Nobody WANTS to ask for a raise. It's uncomfortable and scary, and most people are worried it will backfire. If you're like most people, there's probably a little voice in the back of your head telling you not to ask for more money, that it seems greedy and it might make your team members or boss uncomfortable. But at the end of the day, asking for a raise is totally worth it.
Asking for a raise can feel nerve-wracking. After all, you're essentially telling your boss that you don't think you're being paid fairly—and that's not exactly a conversation most people look forward to having.
But there are lots of reasons why you should go ahead and ask anyway. The worst that can happen is they say no, but if you don't ask you'll never know.
And the best that can happen? You walk away with a bit more cash in your pocket, which can make a big difference in your life.
If you've ever worried that asking for a raise might make you seem too ambitious, or come across as ungrateful, this article is for you!
Prepare For Your Performance Review
Your performance review is an appropriate time to bring up a salary negotiation. You'll want to use this opportunity to demonstrate your value as an employee and articulate how your work has contributed to the company's success. The more you can prepare for this conversation, the more effective it will be.
Before you meet with your manager, make sure you have a list of examples of what you've accomplished during this period—what initiatives or projects did you implement that positively impacted the company? What are some areas where you exceeded expectations? What did other employees have to say about your performance? Having these examples in mind will help illustrate how much you've grown and contributed since your last salary adjustment.
Prepare for potential obstacles during your negotiations by researching salaries for equivalent positions at competing companies (especially if they're geographically closer). This can impact what salary ranges are reasonable for someone in your position, especially if there are cost-of-living differences between locations.
Since You Can't Meet In Person, Use Video Conferencing Tools
The price of remote work is that we can't meet in person every day, and therefore have to rely on video conferencing. This can be frustrating because you miss out on some of the more subtle non-verbal cues that your boss might give you. Video conferencing is the easiest way to get as close to an in-person conversation as possible.
Ask For What You Want
Ask for what you want, and don’t be afraid to ask for more than you think they might actually agree to. For example, if you think your salary should be $90K/year, tell them you want $100K. It is good practice to research what the market rate is for your position before asking for a raise so that you have some perspective on what is realistic.
When talking about a raise, it’s important to be confident but not arrogant. You need to believe in yourself and your abilities.
Don’t be afraid of negotiation if an employer does not agree with your initial request. Be prepared to negotiate and have some numbers in mind before speaking with your manager about getting a raise.
In addition to knowing how much money you would like to make, it’s important that when the time comes, you speak with the exact number in mind rather than just saying something like “a bit more money” or “more than I am making now.” It makes it tougher on the company as they will then need to ask you how much money exactly we are talking about here?
Be Prepared To Negotiate
Keep in mind that you’ve already done the preparation, so you should be able to get close to what you want.
Be prepared to negotiate. Prepare your expectations, and know what you’re willing to give up and what is non-negotiable. What does your company value? Make sure they know how you add value to their company and don't just focus on salary or compensation! Consider other things like time off, match programs, health insurance coverage, and more.
It's important that they understand why their business needs someone like you (your skills, experience and passion) and not just a generic new hire. If there is an opportunity for negotiation, leverage your research into the company and your job title.
Have a backup plan: If the outcome doesn't go as planned, remember that it isn't always worth staying at a job that doesn’t appreciate your contribution!
Be Prepared For Rejection
If you're asking for a raise, you're already ahead of your peers. But don't let a “no” knock the wind out of your sails! Be prepared to be rejected—and if you are, don't take it personally. Take some time to reflect on why they said no and what they suggested as next steps. Then come up with an updated plan to achieve the same goal (a raise!) in another way.
As adults, we have to learn how to manage our emotions and deal with rejection without feeling like it reflects on our self-worth. This is a skill that's useful in all aspects of life, not just work!
You Can Learn How To Talk About Money
Employees who feel comfortable discussing money tend to get paid more.
Asking for a raise is never easy, but doing it in a remote environment adds another layer of complexity. You have to be comfortable talking about money, and you need to be able to articulate your value.
Employees who feel comfortable discussing money tend to get paid more. With this in mind, start by looking at what you’re currently earning—and make sure that number is accurate and up-to-date by searching for information on glassdoor.com or salary.com. Next, think about the economics of your company: how much revenue does it generate? What's the market rate for someone with your title and expertise? Has the company been growing rapidly?
When you feel like you deserve a raise, make sure you can back up that feeling with facts —and don’t be afraid to ask for what you want (or walk away if necessary).
