So, you have been at the same old job for ages now and your boss has never mentioned a raise or even hinted at any type of increase for your hard efforts. In this day and age where we are seeing the cost of living rises at the annual rate of around 2 to 4 %, this generally means most staff want their salary to increase as well, so that they are properly awarded and can sufficiently survive. If you are not happy with your compensation, then you need to do something about that. You may have gotten to your current position through a variety of apprenticeship pathways and then gone the further mile with applying yourself with undertaking some employability skills training. After all of this hard work and time has passed, it’s now time to get your reward for effort.
There will be times when you are given a substantial raise without needing to ask for it but it that doesn’t seem to be happening over several years then you need to take care of that yourself. It may happen annually after each year passes, but that increase may not be what you believe you deserve for your work. Don’t wait for the boss to ask you if you feel like you need or deserve an increase, check out these few signs that it is a good time for you to mention it.
When you ask for a raise you need to ensure the timing is just right. It wouldn’t be a good idea to ask for raise if your company is laying off staff or if you received performance feedback that wasn’t so good. If you don’t do it at the right time, then you will be denied, and the idea will close. If you want to be seriously considered for a raise, then ask for one at the right times such as:
Have you aced a massive project?
If you have just landed a major client or just closed on a record-breaking deal, then you should be getting some recognition for that. This might be the best time to approach your boss for a pay increase. Put yourself in the shoes of a factory worker who has just undergone a beneficial training course in 3d wire forming to further your understanding in wire work, then used these new skills on a huge development for a new building, this is the perfect time to raise your case. Recognition may come in the form of a congratulations from the boss, a bonus or even a bigger responsibility. This is great but in fact all you want is a raise. You have earned it. An accomplishment highlights your value to the business and use this when asking for a raise.
Your company is performing great
When the business is good and there are great prospects for growth in the future, the decision makers are happy to be investing in the business and allow for some extra bonuses, particularly if the cash flow is increasing significantly. If the business just landed a major partnership or something was completed that has exceeded expectations by far then you should consider asking for a raise. If you think you can demonstrate you have contributed well to the positive results, then you could be in with a good chance and be on your way to making your career even more substantial and successful.
Are you underpaid?
A raise can feel like a necessity sometimes so if you are feeling underpaid then you can speak to your boss or seek professional advice from a variety of business and lifestyle coaches. If you think you are underpaid it can lead to a discussion that helps others understand if there needs to be a salary adjustment or if you are in fact getting paid correctly. Feeling underpaid could have a damaging effect on your quality of work as you may be feeling undervalued and unmotivated. This change in character could have some long-lasting effects on your professional self, so you really will need to address this as soon as you begin to feel any doubt set in.
Is it time for a performance review?
At certain times employee salaries will be reviewed as they are assessing the individual performances of each employee within the company. If you have a review meeting coming up this could be a time to approach the boss and ask about a raise, as you are already discussing your own performance as an employee, the raise will be topical. This will give you clarity on your chances of getting the increase as you sit down to talk about your performance. Many companies have a calendar for performance management and compensation which becomes effective on a particular day every year. If you know increases are happening soon ask a month or two beforehand ahead of that date.
You may feel as if you’ve earned some reward due to all of your hard work. Sometimes it takes a little nudge to get what you want and to be confident in asking for that increase in pay. Know your worth and value yourself highly and your employers should follow too.