A Professional Tip Brought to You By: Felicia Avalos, CPC

Did you know…that on average, US employers increased wages by 3.4% in 2022 which stands to continue in 2023? Furthermore, the US pay growth is being dictated by the labor market and labor supply issues resulting from the pandemic over the last several years.

Therefore, you are in a perfect position to approach the difficult subject of asking for a raise. It can be daunting to approach your place of work and ask for a raise if you are ill-prepared. In fact, a study by Payscale determined that 37% of individuals never asked for a raise from their direct supervisor yet chose to exit the organization. It is all about being prepared, here are several simple tips on how to successfully ask for a raise and what to say in the process.

  • Two important factors to consider before asking for a raise – Preparation and Timing
    • Consider the mood and environment you are walking into. Here is the best ways on how to prepare:
      • Collect all positive feedback and accomplishments from the last year – quantify how you have added value to the company.
      • Consider what you will bring to the table in the future – how will you make an impact to the organization going forward?
      • Know EXACTLY what you want – salary, benefits, etc. Gather salary data for your specific position within your market.
      • Make sure the timing is good for your direct supervisor and company as a whole – schedule a meeting in advance to discuss this specific topic.
      • Build a script, practice/rehearse it, and FINALLY record yourself making the ask.
    • No-No’s when asking for a raise….
      • Don’t focus on personal reasons – money is money, there is nothing personal about it. Focus on the RAW DATA!
      • Don’t use longevity as a basis for a raise – don’t expect a raise without having contributed anything worthwhile.
      • Timing is everything! Don’t request a raise at a terrible time – did the company just go through layoffs or massive budget cuts? Is there a hiring freeze? These are all important factors to consider when it comes to timing. Wait a month or two if necessary – in the long run, waiting for the right time will result in the desired outcome.
      • Be honest – don’t inflate accomplishments. Your boss knows all too well the kind of work you have produced.
      • Don’t sell yourself short! This is not the time to be modest. It is time to brag on yourself and truly showcase the contributions you have made to the team and organization.

Finally, don’t be afraid to negotiate if your boss says “no.” It is a common knee-jerk reaction to take a “no” as a hit to your ego and confidence. Pause and salvage the situation by learning as much as possible about why it is a “no.” In most cases, a “no” is just a “not right now.” Find out how you can become eligible for a raise during the next review cycle. Determine if there are ways you can improve your impact and set yourself up for a future raise.

Just remember, it’s expensive for employers to recruit, hire and onboard new talent. This is an excellent opportunity for you to embrace these conversations with your boss and avoid selling yourself short.

It is all about preparation and timing – Good Luck!

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