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How do I request a salary increase?

Welcome to Burning Questions, Fast Company’s mini-advice column. Twice a week, Deputy Editor Kathleen Davis, host of The New Way We Work podcast, will answer the biggest, most pressing questions in the workplace in less than a minute.

Q: How do I request a salary increase? A: This is one of the most common (and difficult) questions in the workplace. In fact, according to surveys, about 50% to 70% of employees believe they don’t earn enough money.

Wouldn’t it be nice to say to your boss, “I think I should earn 10% more” and he would agree? Or better yet, if all salaries were transparent and everyone received fair and equitable compensation?

Unfortunately, that’s not how it usually works. Just like negotiating your salary when you get a job offer, there are a lot of factors to consider. timing. Know when raises are usually given. Is it during end-of-year performance reviews? Mid-year reviews? Knowing when dividends are most likely a planned part of the company’s budget makes you able to take advantage of it. This does not mean that you can only get a raise at these times, but it does make it easier to get your request for a raise approved.

2. Decide what you are asking for and be clear but flexible. If you want a raise and a promotion, that’s a different conversation than if you just want the raise to stay at your current job. You should also know the amount you are asking for. You don’t have to drive by it, but you should have a target number in mind, as well as the minimum number you expect to get. 3. Be prepared with a “why.” Life circumstances (childcare costs, loss of a partner’s job, inflation, buying a home) may be what prompts you to ask this question. Unfortunately, you can’t lead by the reasons you need to make money. The “reason” you deserve a raise must be because of the work you did.

So, bring your receipts: Come to the conversation with a list of your accomplishments and put a dollar amount on it if you can. The message between the lines is this: “I’ve made this much money for the company; don’t you think you should pay me more so I can keep doing this?” The final part of the “why”: What are you going to keep doing—or doing? More of it – once you get the raise.

Want to feel more prepared? Here’s some further reading:

  • This is exactly how to ask for a raise no matter your role
  • Now is the time to ask for a salary increase. Here’s how to do it well
  • 5 mistakes you should avoid when requesting a salary increase
  • How to ask for a raise – and get it

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