There are still ways to ask for a raise even in this difficult time for many businesses as it is no secret that COVID19 has taken a toll on the economy. Many workers are worried about asking for a pay raise. Here are the five best ways on how to ask your employer for a pay raise.
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But if you feel that you are being underpaid, and that you deserve a pay raise, it is important to speak up. Here are 5 tips on how to ask for a pay raise during COVID-19:
1. Do your salary research
Make sure you know what the going rate is for your position and experience level. This will give you a good baseline for negotiation. You’ll not get much more if the sum you’re asking for doesn’t meet your current job requirements.
Do you know how much a competitive wage will cost a person for a specific position & position in the area? Consult salary websites such as the latest Robert Half salary guide– it shows salaries in hundreds of jobs across several professional domains. It also details salary benchmarks and salary ranges and salary trends.
Also ask the human resources department to provide the salary figure for a similar job title in your company. Reach out to other supervisors (not within your area) for advice on negotiating salary increases.
If someone researches the numbers they will also show their manager you are using dependable and reliable data compared to their own estimates.
Think About Why Your Boss Would Want to Give You More Money At The Time of Year
Can you list the duties and additional responsibilities in this job that no other employee is capable of doing? Is raising the subject of a raise to ensure a stable management role for a manager?
Will your raise prevent you from exiting your current employment? Does your current role have a client focus and did you have an important role in securing an important client?
2. Be confident and be prepared
Remember that you are worth more than your current salary. Go into the conversation with a sense of self-worth and authority. We want you to arrive at your scheduled meetings and be able to prove that there’s an undeniable case for raising your salary.
It pays to have your desired salary firmly in your mind; you’ve arrived at this figure based on you knowing the salary range for similar professional organizations.
It also helps to be honest and go through a self evaluation process to know where your strengths and weaknesses are as part of your preparation.
Know your worth
In addition to knowing the average salary for your position, you should also know your own worth. This includes taking into account your skills, experience, and education and if you have taken on added and new responsibilities that were not part of your original position description. If you feel confident that you are being underpaid, then it’s time to start negotiating for a pay raise.
Has it been more than a year since your last raise? Do you know what the average salaries are for the same skill set in a similar industry?
It helps when putting together a storage account or an email account to hold all those notes where you were praised by clients, bosses, and colleagues. We’ve referred to it as your “smile file,” a repository for your great works and positive feedback from past and existing clients.
Always bring data and numbers
Negotiating a raise with the current company gives your employer a great benefit because your boss knows about your work and accomplishments. Whether or not they are, it’s time for them to show you what they’ve done. Tangible examples from past projects are very effective, but quantifiable examples are best. It is best to prove the amount of money saved by you in the company and the amount of money you spend.
With self assessments, your records show all the past accomplishments you achieved or are achieving today. This information is the anchor of your question because nothing speaks as loud as data. If you are specific to what you bring to your roles, you will be easier to get your salary raise.
Numbers are convincing, use it to highlight your achievements. For example how you helped your company save money, increased turnover, improved services, took on more responsibilities above your current position description.
As with the salary negotiation when interviewing for the job, it’s advisable your request should show the value you add to the position. Isn’t it difficult to let go of a hard question to explain why you’re worthy of a raise?
3. Be prepared to compromise
This is a negotiation, not a hostage situation. Making ultimatums or demands will only serve to alienate your employer and put them on the defensive. Instead, frame your request as a win-win proposition. For example, you could say something like, “I know that finances are tight right now, but I’m confident that I can help increase revenue if you give me a raise.
If your employer is unwilling or unable to meet your desired compensation, be prepared to negotiate. Perhaps you can ask for additional vacation time or other benefits instead of a pay raise.
Try to be flexible. One way to increase your chances of getting a pay raise is to be willing to compromise on certain points. For example, you might be able to agree to a shorter pay raise period or ask for a smaller pay increase.
Some people might still want to ask for a pay raise when their company is going through tough times. That’s a good idea, but it might be hard to get what you want. If your employer can’t meet your full ask, be prepared to negotiate. You might be able to get more vacation days or other benefits instead of a pay raise.
4. Choose the right time and place
Timing is everything when asking for a raise. Avoid asking during busy times or when your boss is under stress. Instead, schedule a one on one meeting specifically to discuss your salary request.
You also don’t want to ask when your company is going through tough times financially. Instead, wait until things are looking up and there is more money in the budget.
When asking for a raise, you should determine a good period in your career cycle where you want your employees to have a conversation. Do companies offer salary raises only after performance reviews? Consult employee handbooks to understand how your annual review is conducted.
Take into account whether your organization recently lost jobs or is undergoing a hiring freeze. If you raise your wages for people who were furloughed or had lower revenues, you could be getting nothing.
5. Be polite but firm
Thank your boss for their time and explain that you feel you deserve a raise based on your skills, experience and the added value you have given your employer. Be assertive but respectful.
It’s important to make your case clearly and confidently, but remember to listen to your boss’s response and take their feedback into consideration. Human nature is such that we expect an immediate answer in the affirmative.
Don’t take no for an answer. If your boss turns down your request for a pay raise, don’t give up! Ask them what you can do to earn a raise in the future.
Be patient. Remember that pay raises are often given at annual or semi-annual reviews, so if your request is denied, don’t get discouraged – keep up the good work and try again at the performance review coming up.
Make notes of the key points discussed; by paying attention to their responses and have follow up questions prepared, you will be in a stronger position at your next performance review.
Bonus Tip Number 6
Have a positive attitude
Lastly, when asking for a pay raise, it’s important to have a positive attitude. Be confident in yourself and your ability to contribute to the company.
Do not discourage anyone who’s looking into raising the money. Sometimes external factors are playing an important role, so don’t get frustrated. Your boss should be your ally, not your enemy,” he said. Even in the most difficult situations, it’s a good option to stick around for a longer period and look for a more rewarding salary.
Things To Avoid Doing When Asking For A Raise
Here’s what you don’t want to do when asking for a raise:
Don’t ask for a raise at a terrible time
Find out what is happening to your organization. How many employees are in the job market? Did the government announce major budget cuts? Is your job frozen? Did they lose a big customer and present poorly? Do you have any colleagues that want raises on their salaries?
Take careful note on timing. Although you might only wait a couple months, you will be glad that you did. Sometimes tough times do last longer. We also wanted to note that asking for an increase just because you worked at an organization for some time isn’t an appropriate reason.
Don’t focus on personal reasons when asking for a raise or let emotions overwhelm you
Maybe you feel burnt out and underpaid, but you must let that be so for a productive conversation. Money is money, no emotions. So stop thinking subjectively, so you can start thinking about the raw data and facts.
Your overarching role in negotiations will be to replace compromising or fearful negotiations with decision-based negotiations. Raw emotions rarely lead to an agreed agreement. Keep calm and professional. While the request for a pay increase may be financially motivated by the circumstance in your household, keep your discussions strictly a business relationship with your supervisor.
Don’t Give a Presentation
In presentations, you are making an assumption of what the managers want and they know from the star what you want. Ask your managers many of your questions to learn of their concerns and goals. The answers will give you an idea about how to tailor your responses to fulfil your manager’s needs. This is so that she can ultimately understand how to help you reach her goal.
Ask your manager what they consider the most challenging for talent development? His/her answers can be tailored to your argument for raising.
Don’t Fudge Numbers or Take Undue Credit When Asking for a Raise
Most projects run in a team, so your boss knows all of this. Don’t tell us “I work 60 hours / week”. You helped increase sales by a total of 223% last quarter. Please give credit where credit is due. If your team contributed to the result, make sure you mention this.
Taking too much credit is a pay raise killer, whether you are talking about salary or commission. Fudging numbers creates an environment of distrust and will erode any pay raise negotiation from the get-go.
1. How do I know if I’m entitled to a pay raise?
The current COVID pandemic has created a lot of uncertainty in the workplace. It may feel like a tricky situation and many people are wondering if they are entitled to a pay raise during this time. The answer to that question is not always straightforward, but there are some factors you can consider to help you make your decision.
- Have you been with the company for a long time and feel like you are due for a raise?
- Has your job description changed or expanded since you started working for the company?
- Have you taken on additional responsibilities that are outside of your normal job duties?
- Are you performing at a high level and meeting or exceeding all of your goals?
- Have you received positive feedback from your supervisor or other members of management?
These are just some of the things you can take into consideration when trying to determine if you are entitled to a pay raise. If you feel like you are deserving of a raise, it is important to start preparing for a conversation with your supervisor.
2. Must I have a specific reason for asking for a pay raise?
You may feel like you need to have a special reason or justification for asking for a pay raise during COVID-19, but the truth is, you don’t always need one. If you feel like you are being underpaid or that your salary is not keeping up with the cost of living, then you can ask for a pay raise without a specific reason.
3. What is the best way to approach my boss about a pay raise?
The best way to approach your boss about a pay raise will vary depending on the relationship you have with them. If you have a good relationship with your boss, you can simply ask them for a pay raise. However, if you don’t have a good relationship with your boss, or if you feel like they may be resistant to the idea of a pay raise, you may want to approach the conversation differently.
One approach you could take is to explain how your pay raise would benefit the company. For example, you could explain that a pay raise would motivate you to work harder and be more productive. Alternatively, you could explain that a pay raise would help you cover some of your living expenses or allow you to save up for a major purchase.
4. What should I do if I’m denied a pay raise?
It’s not always easy to ask for a pay raise. But it is necessary if you want to improve your salary and better meet your financial goals. It can also help you get more recognition at work, which may lead to other opportunities down the line. Sometimes people are afraid of being rejected or turned down; but there are ways to make this process less daunting.
If you’re denied a pay raise, don’t despair. First, try to understand why your request was turned down. It could be that your company is facing financial difficulties or that your boss doesn’t think you deserve one at the moment. If it’s the latter, use this as an opportunity to reflect on what you could do to improve your performance and make a case for why you deserve a pay raise next time. You can also try asking for other benefits, such as more vacation days or flexible working hours. Finally, remember that it’s okay to negotiate – just be respectful and professional.
5. How much should I ask for in a pay raise?
Bear in mind you want to ask for a pay raise during COVID-19, with an emphasis on asking for the right amount.
Ask too little and you might be met with excuses or even turned down altogether; but go too high and your boss may see it as unreasonable.
So what’s the magic number?
Unfortunately, there is no one-size-fits-all answer to this question – it will vary depending on your individual situation and what you feel you can reasonably ask for. However, there are a few things you can keep in mind that will help guide you to the right number.
First, consider what you were earning pre-COVID. If your pay has been impacted by the pandemic, then it’s likely that you will be able to negotiate a pay raise that reflects this.
Second, think about what you believe you are worth and what others in similar positions are earning. This will give you a good benchmark to work from.
And finally, don’t be afraid to ask for what you want! If you feel like you deserve a pay raise, then go for it – worst case scenario is that your boss says no, in which case you can always try again later.