14 Sep How to ask for a raise – and actually get it
Note: If you truly want to live a happier life in the occupational phase of your life, you NEED to become an entrepreneur! If you don’t know how to get started, this is a good place to start. BUT … if you absolutely have to stay at your W-2 job, here is a good outline of how to go about asking for more money.
No matter how much you’re currently making at your job, chances are you wouldn’t mind making even more.
However, for some of us, a pay raise is a very real need. Perhaps you’ve started a family or have debts you need to pay down. Whatever the reason, asking for a raise is rarely an easy thing. If you do it right, however, it can be an extremely rewarding one.
Before you ask for a raise, get an idea of how much money you’re actually worth. Missing the mark on either side will not end well for you. Ask for too little of a raise and you might actually get it, only to be disappointed later. It will also let your employers know that you are clueless about your actual value. On the other hand, if you ask for too much, you’ll be all but guaranteed a flat “no.”
Keep in mind that just because you’re worth a certain amount doesn’t mean the company will give it to you. They may not be able to afford it, for one. It might also be that what you’re worth on the open market isn’t what you’re worth to them. So be sure a large part of your research is figuring out what you’re actually worth to your current employer.
Once you know how much you’re worth, ask for it.
Don’t ask for less out of some sense of modesty. Just make sure your request includes a rationalization. Explain how you came to the final number. Then confidently seek that amount. If you mince words or otherwise show you’re not sure about your value, don’t expect an employer to do you any favors.
Many people go too far in their attempt at convincing an employer they’re worth extra money. We’ve all heard horror stories about someone threatening to quit. Don’t become one of those yourself. Even if you get the raise you wanted, providing any type of ultimatum will most likely not go over well with your boss. You should fully expect that your new salary, and time with the company, is limited, as they no longer feel they can rely on you.
Lastly, practice making your pitch. Practice it over and over until it sounds natural. Then ask for your raise as soon as possible. The longer you put it off, the harder it will be. Plus, if someone beats you to the chase, your chance at success just dropped.
Requesting a raise can seem difficult, but not if you adhere to the above advice. By dedicating yourself to this goal, you’ll be guaranteed a much better shot at success, which could mean more money in your pocket.