You are long overdue for a raise, and your boss doesn't seem to be doing anything about giving you one. Even if you know you deserve a higher salary, you, like many people, can be hesitant to ask for a raise. You have three options. You can do nothing, but then you may stay at the same salary indefinitely. You can look for a job that pays more, or you can ask for a raise. Clearly, sitting around and waiting for your boss to make the first move hasn't worked so far, and looking for another job can be a big hassle. So, your best course of action could be to ask for a raise.
Research What Others in Your Field Earn
Before approaching your boss, you need to do some research. It's time to learn about typical salaries in your field so that you can then figure out if you are earning less than you should. You can try talking to colleagues in your field. However, be forewarned that this may be in direct violation of your employer's policies. Also, many people are reluctant to discuss what they earn with a coworker.
Your better choice is to look at salary information from published resources. Websites like the Bureau of Labor Statistics publish median salaries for a variety of occupations based on government data. You can even find salary information by state. If you belong to a professional association, check to see if it has salary information available on the organization's website. "Glassdoor.com" is also an excellent resource for salary information.
Determining Your Possible Earnings
Remember that because of factors like education and experience, your salary may differ quite a bit from the median published salary for your field. You must be realistic when thinking about your expectations. Consider the number of years you've been working in the field, your education and credentials, and the length of time you've worked for your current employer.
Another major factor is where you live. You should even take the location of your job into account. Jobs in major cities, for instance, usually pay more than those in small towns.
Evaluate the Financial Health of Your Employer
Be very cautious about your timing. Don't ask for a raise if you know your employer is having financial problems or if there is a lot of uncertainty in the industry. While, as an employee, you are probably well aware of your company's financial health, you shouldn't rely only on what you observe. If the firm is a publicly-traded company, do some company research, which includes looking at financial reports and following business news.
Prepare Your Case for a Raise
Once you are sure the timing is right and you have all the relevant information, get ready to meet with your boss. Start preparing to make a case for your raise. Even though you think you deserve one, that might not be as obvious to your boss. It's up to you to convince him. Sell yourself just as you would if you were trying to get a prospective employer to hire you.
First, make a list of all your accomplishments. Start with the most recent ones and work your way backward. Describe how those accomplishments benefited your employer. Be very specific. For example, don't just say you increased profits. Prepare to tell your boss how much they rose and what role you played in making that happen. Next, make a list of your relevant skills—what makes you successful at work. Include your hard and soft skills. Finally, get ready to describe all the things you plan to do for the organization in the future. Remember to give details!
Getting Turned Down for the Raise
Before you walk into your boss's office to ask for a raise, think about what you will do if they say "no" or agrees to give you one that is much smaller than what you want. Will you quit your job or will you wait a while and then ask for a raise at a later date? Your answer may depend on what your boss says. For example, did they turn you down because of your performance or because of other circumstances? Perhaps you are earning the highest salary allowable for your position.
Set Up an Appointment
Now that you've done all the preparation, it's finally time to speak to your boss. It is not something you should discuss with him in passing — it's serious business. Treat it as if it were a meeting with a client or a job interview. Set up an appointment to discuss your request. Don't ask for a raise by email, at the water cooler, or by telephone. The only reason for not having this conversation face-to-face is if you and your boss don't work at the same location.
Present Your Case
Your boss may agree to give you a raise immediately. Wouldn't that be nice? You may have to do nothing more than ask her for one, which may leave you wondering why she didn't offer before you asked. It is more likely you will have to present the material you gathered.
Stay calm and stick to the facts. Getting emotional will not benefit you, and may even harm your negotiations. Don't bring up your personal expenses because they are not your boss's problem. In your employer's eyes, your salary has everything to do with how you benefit the employer and nothing to do with your needs.
Respond to a "No"
Your boss may turn you down. What should you do next? It all depends on the reasons he gives you. If they say they are rejecting your request because of your performance, you have to decide if the feedback is valid. If it is, think about what changes you can make to turn things around. If you conclude that your boss is just making excuses and their criticism of your performance isn't valid, you may want to change jobs to where you will feel appreciated.
Find out if there is any chance the situation will change. If you learn that is a possibility, get your boss to commit to a time to revisit your request. For example, you might want to have another conversation during your next performance review. Ask your boss to help you come up with a plan for what you will need to do to improve your chances of getting a raise by that time.