There are many effective ways to get a pay raise increase. People frequently have a good deal of fear and apprehension regarding the topic of getting more money in the workplace. But with the right approach, you can get that raise you want and still sleep soundly at night.
1. Make the Right Preparations
Waking up one morning and deciding that you will go after a pay raise later that day can be risky business. Like so many large undertakings in life, preparation is essential. This means that you absolutely must formulate a strategy well in advance. Successfully landing the pay increase you are seeking means planning.
2. Highlight Your Productivity
Do you feel that you are productive? Do you feel as though others realize just how much you are getting done each and every day? Most importantly, does your boss know how productive you are? If your employer doesn’t understand or notice your level of contribution in the workplace, then you need to begin subtly looking for ways to highlight just how productive you are. Every situation is different, so step back and evaluate what you do in a given day. If you can find ways to point out how productive you are without seeming too pushy about the topic, you will do a lot for your cause of getting a pay raise increase.
3. Take on More Responsibility
You might not be eager to take on more responsibility, but if you really want that pay raise increase, you may have to shoulder more work. If the opportunity to take more responsibility comes your way, take it. The more valuable of an asset you are to any company, the greater your job security. Plus, you'll be far more likely to get a raise.
4. Be Strategic!
Timing is important in most endeavors. With this in mind, be careful about when you ask for a raise. Asking for a raise just after your company has received bad news obviously isn’t a great idea, regardless of your own personal situation. Conversely, if your company lands a major new client or customer, you could be “sitting pretty” so to speak.
Mood, culture and corporate climate are all very important factors in determining whether or not you land your pay raise increase. If the mood is good, then strike while the iron is hot. But if the climate or “vibe” is bad, you should wait. Asking for a higher salary at the wrong time can actually damage your long term prospects of getting that raise and even damage how you are perceived at a company. You always want to see like you are putting the needs of your company first! If you’re employer feels that you are a team player, then your chances of being rewarded with a pay raise increase are far better.
5. Evaluate the Timing
Finally, if someone else in your department asks for a raise, you must wait at least a few months. Why? Your odds of being told "yes" will be diminished regardless of whether or not your coworker got a positive answer. Additionally, asking just after a coworker could also make you look like a follower, and this could negatively impact your future advancement at your company.
Follow these five tips and you will increase your chances of a pay raise increase. Above all, if you are told “no” when asking for more money, remain calm. This will indicate that you are a dedicated team player and increase your chances of success at a later date.