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No matter how good you know you are at what you do, making the decision to walk into the boss’s office and ask for a raise is one of the most stressful things you will ever do.
Doubts will accumulate in your mind, and what seemed like a great idea the night before will suddenly seem like something super stressful that you could easily avoid by just returning to your desk.
The reasons to do it far outweigh the reasons to avoid it. Of course, having more money in your bank each month is always a priority, but there is also the impact on your potential to progress further within your organization as other managers will undoubtedly hear about your success.
Also, don’t underestimate the knock-on effect it will have on your confidence and therefore your contribution at work and your performance levels in what you do.
With careful preparation, the right approach, and a pinch of determination, you can increase your chances of success.
Lisa Johnson reveals her top five tips on how to successfully ask your boss for a raise
I’m Lisa Johnson, a global business strategist who runs That Strategy Co in London and helps ambitious people create passive and semi-passive income streams – that is, regular income from a source other than their employer.
I’m a Sunday Times bestselling author and a 46-year-old mum of twins who went from being £35,000 in debt to earning £16m in just six years – and I teach others how to do it too.
Here’s my step-by-step guide on how to ask for a raise… and get it.
Preparation
The old saying “if you don’t prepare, prepare to fail” will play a big role in your success here.
Coming fully prepared means you won’t be searching for reasons or stumbling over your words as you present your proposal, because, let’s be clear, what you’re doing is presenting a proposal to your boss.
While you may be 100 percent sure that you are the best at your job and worth much more than what you are currently paid, know some facts about the industry standards for your position, taking into account factors such as experience, location and skills, will always be useful. be a good idea.
Write down your achievements, contributions, and any additional responsibilities you’ve taken on since your last pay raise, so you can include them at the appropriate time if your boss asks for more evidence to support your proposal.
Mindset
Lisa is a 46-year-old mum of twins (pictured together) who went from being £35,000 in debt to earning £16million in just six years.
Many doubts will pass through your mind. Am I really worth it? Do I know enough to justify a salary increase? Surely there are other people here who know more than me? Will this make my boss see me as a troublemaker?
That is why the most important aspect of this plan that you need to sort out before presenting your case is to make sure you are in the right frame of mind.
First, get rid of what is commonly known as “Imposter Syndrome.” We all experience this from time to time, but what it really translates to is the “they’ve been doing it longer than me” syndrome.
How long someone has been in a position has no bearing on how good they are at it or their potential to advance.
Therefore, it is crucial to really know your worth. Keep the conversation focused on your performance and value to the company and be sure to emphasize your contributions in the workplace, perhaps making comparisons to industry standards if appropriate.
Be sure to keep all of these tips in mind and approach the discussion with a positive and confident attitude, but be careful not to make demands.
You don’t want to go overboard and have a negative impact on the discussion before you even begin.
Moment
Lisa said you should try to overcome your “imposter syndrome” and know your self-worth to get a pay raise.
Think about this. You should choose an appropriate time to ask, ideally after completing a successful project or receiving positive feedback.
Stay away from Monday mornings: No boss will be generous when trying to catch up on all the problems that have landed on their desk over the weekend.
Also, consider your company’s financial situation and performance. Are things going well?
While you may feel confident that you can play a valuable role in improving productivity and profitability, asking for a salary increase during times of financial stress could decrease your chances of success.
Follow up and be flexible
If the worst happens and your request is rejected, don’t react confrontationally.
Take a deep breath and then ask for feedback on what you can do to improve your chances in the future.
Suggest that you set a schedule for a follow-up discussion, giving your boss time to reconsider your request and also to respond to the feedback you received during the initial meeting.
If you’ve been told they can’t offer a pay rise at this time, think about what other benefits could be negotiated – perhaps extra vacation, flexible working hours or career development opportunities.
Don’t see this as giving up fighting for the promotion you know you deserve. What this will do is show your boss that you’re thinking ahead and adept at digesting feedback, while also showing that you’re passionate about being worthy of a raise, which you can discuss in more detail in the follow-up discussion. that you have programmed.
Know what to say
Lisa is a mother of twins and likes to share her smart tips for maximizing your money online.
This sounds obvious, but while the tips I’ve listed above will give you the best chance of success, having your initial tactic clearly defined in your mind before you knock on that door will be invaluable.
First, be sure to schedule the meeting in advance so they have time to prepare.
Every employee/manager relationship is different, depending on a number of factors, so you’ll be best on what language and tone to use, but something like this will be a good starting point.
‘Hello. Thanks for seeing me. I just wanted to take about ten minutes of your time to talk about my performance since I’ve been here.
‘During this time I have always been proactive and enthusiastic, and I have also assumed [specific responsibilities or achievements]and I truly believe that my contributions have positively impacted the team and the company as a whole.
“Therefore, I would like to discuss the possibility of an increase to reflect my increased responsibilities and the value I bring to the company.”
Also, make sure you have some ideas ready about what you would suggest to improve or develop existing systems and processes.
This will show that you are not only good at what you do, but also have the potential to contribute more to your workplace.
Remember, the point of this chat is to demonstrate how important you are to the company, so be professional, positive, calm, and remain yourself.
- Lisa Johnson is a money expert and global business strategist who runs That Strategy Co, helping ambitious people create passive and semi-passive income streams.