It’s Time to Negotiate Your Salary – Here’s How to Ask for a Raise
The great resignation has resulted in millions of employees across the country leaving their job for better work conditions, improved work conditions, and, in many cases, increased pay. With employers competing for talent, this is what’s considered an employee’s market, which means the employee, in this case, you, can leverage your value and negotiate your salary.
With the job market being as competitive as it is, the ball’s in your court when it comes to getting a raise. Below are five tips to negotiate your salary and ask for the raise you deserve.
Do your research
Understanding what others in your role are earning is essential to ask for a raise. However, simply researching the pay for your job title won’t be enough. When doing your research – get specific. Look up what someone in your shoes gets paid in your area. Oftentimes, location plays a big role in an individual’s salary, so having a clear understanding of the average pay can be helpful.
Draft your elevator pitch
Asking for a raise can be nerve-wracking, so come prepared with an elevator pitch that can help you break the ice and get right to the point. Keep this pitch short and sweet, after all, the majority of your time will be spent going over all the other details. During the meeting, don’t read off your script, instead, touch on the major points and improvise as you go.
Bring the data
While the elevator pitch can help you set the stage for the conversation, you’ll need numbers and examples to make your case. In addition to the salary average in your area, make sure to have specific examples of the impact you’ve had on your team and company. This will prove to your supervisor that you’re not just asking for more money, you’re asking to get paid for the value you bring to the team.
Schedule a meeting
If you already have time scheduled to meet with your supervisor and review your goals, this meeting might be the perfect opportunity to bring up your thoughts on a raise. If you don’t have a meeting scheduled, reach out to your supervisor and request at least 30 minutes to talk.
An elevator pitch and strong data can set the stage for a raise, but expressing enthusiasm and planning for the future will wrap everything in a pretty bow. Your company wants to know that you’re not just completing tasks for the now, but that you’re thinking of how everything plays a part in the future. Like I mentioned above, this is an employee’s market, and employers should be doing what’s in their power to keep their team feeling empowered and valued.