Is it Okay to Ask Your Boss for A Raise?
The art of asking for a raise is a delicate one that has been studied by both workers and experts for generations.
Whether, in fact, it’s okay to ask your boss for a raise depends on a number of factors, and these matters can help, or hurt, your odds of success in achieving your goal.
Timing is Everything
Understanding the importance of timing your request for more money is paramount to getting your raise.
When salary freezes are in effect, employees should understand that this means the company is making fiscal adjustments that can be critical for the future.
Even in normal times, raises are generally doled out once a year.
Positions such as financial advisor or other levels that are time or tax sensitive levels may receive compensation at, or after, the end of the year.
Start making your request known two or three months before the scheduled review. Unless there is some extraordinary circumstance that will favor your request for a raise, you should time your request to dovetail with the company’s timetable for financial matters.
Know Your Strengths
Before approaching your boss for a raise, you should have set the groundwork for making a case for an increased salary.
Make note of your contributions to key projects or additional hours you have worked to advance the company’s stated goals.
Your boss may not always be aware of your dedication to these projects.
It’s your task to ensure that he or she is aware how valuable your contribution has been.
Don’t be afraid to sing your own praises so that the boss knows the details of your accomplishments with the company.
Be Realistic in Your Expectations
Experts recommend knowing what you want and ensuring that it is a realistic request given the nature of your work, as well as the current financial position of the company.
If you have only been at the company for a short time, have recently had to take a leave from your duties or have not otherwise provided significant value for the company, you will have a difficult time making an acceptable case for a raise.
Instead, re-double your efforts make your work contributions noticed, in preparation for a salary increase in the future.
It’s also important to make yourself aware of the traditional rate of increase in the company, and don’t go too far overboard in asking for more.
If Refused, Find Out What You Can Do Improve Your Odds
Rejection can be hard to take, especially if you feel you have been giving your all to your job over the past year.
A “no” answer right now doesn’t necessarily mean a “no” answer forever. Pay increases are most frequently based on merit, and you can use this fact to help your chances in the future.
Don’t be afraid to ask your boss what it would take to increase your odds of a wage increase in the future. Express your willingness to take on additional projects to help make your case in the future.
This enthusiasm for your job will help you to get a more favorable response at another time.
Planning to apply for a new job?
Speak with the experienced financial advisor recruiters of Willis Consulting Inc.
They can help you land the position you want.
See our open positions at
www.willis-consulting.com
Willis Consulting, Inc. Los Angeles Office: Corporate Headquarters 719 Yarmouth Road, Suite 203 Palos Verdes Estates, CA 90274 310-373-7400 PST Scottsdale Office 8970 E Raintree Drive Suite #300 Scottsdale AZ 85260 New York Office 244 5th Avenue, Suite 1855 New York NY 10001 212-726-2041 PST