Think it’s time for a raise now? But don’t know what to say?
Here is a detailed guide which will assist you in your salary-hike pitch……
Express your appreciation for opportunities
Do not create the impression that you are frustrated with an inadequate pay. It will just piss your boss more. Rather, have a mature conversation about how you appreciate every single learning opportunity given to you by the company, and how you wish to take up more responsibilities head on, thereby contributing significantly to the growth of the company.
Lead the conversation with your gratitude to better grease your raise pitch.
Explain the increase of responsibilities and your contribution
If you are asking for salary-hike, know that it doesn’t matter how long you have been with the company; your initiative is the only thing that matters. Initiative encompasses taking on more responsibilities within the organization, coming up with ideas for better performance, increase in personal contribution to the company’s growth.
Before demanding salary hike, make sure you have made a note of all of these points and presented them clearly before your boss. Be confident when you present them.
Name your price clearly, but not at the beginning
You should never start a salary-hike pitch straightaway with the finances. Instead, it’s better to start with your responsibilities and the increase in your contribution to the company.
When demanding salary hike, have a firm number in mind; how much increase do you need to see in your salary? You should be clear about the number, demand for it confidently but not arrogantly and of course, be reasonable.
Focus on your work rather than on the figures
Also, in your salary-hike pitch, remember to focus the conversation more on your responsibilities and initiative and lesser on the finances.
Have a plan of action for “no”
If your Boss says “Yes”, well and good, but what if he says “No”? Have a plan ready beforehand.
If you think that you have given 100% to your work and still get a “No”, think of what would be better for you…staying on or leaving the company.
If you think you can stay on, ask your boss directly what are is expectations and how you can fulfill them. If you feel that resignation is the way to go, state that clearly to your Boss.
Also, be ready with a similar plan of action if your boss does hike your salary, but not as much as you had hoped.
Be prepared for a “Maybe, let me think about it” too.