How do you ask for an adjustment
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Now may be the time to ask your boss for a raise.
This is what my colleague Abigail Johnson Hess discovered after speaking to a few economists about the current working conditions in the United States. asking for more money.
“Workers have employers on a barrel for a little while,” Josh Bivens, research director at the Economic Policy Institute, told him. “I don’t think it’s going to last that long. But for now, I think workers are seeing higher inflation, they see employers in certain industries are desperate enough to attract workers, and they think.” I’ll go .'”
This is good news for working Americans, who, on average, have experienced fairly slow wage growth over the past few decades.
That said, asking for a raise can be a scary prospect (I’ve been there). You want to find the right balance between standing up for yourself and showing your value to your business, which isn’t always easy to do.
But there are a few proven tips that can help you earn a bigger paycheck. If you want to ask for more, here are three tips to get you started.
1. Prepare for your salary discussion
First, understand why you want a raise, says Chelsea Jay, CV writer and career coach. Are you overworked or have you taken on more responsibility in the past year? Are you below the average salary for your job?
Understanding your “why” will help arm yourself with the facts you need to make a case for higher pay.
âTo get into a conversation where you’re asking for a raise, you need to have a clear understanding of the market, the value you bring and your financial needs,â says Jay. “Requests for increases always require justification.”
You also want to make sure your timing is right. If your business is not doing well, say it recently laid off workers or put in place a hiring freeze, it might not be able to meet your demand. Also, if you’ve received a poor performance review, you’re probably not in the best position to ask for more money.
2. Make your point
Researching the average salary for your job in your city or state can help you champion your case, or at least give you a rough number to aim for. LinkedIn and Glassdoor offer salary ranges for many positions, which can help you determine how many you’re going to apply for.
Jay also advises bringing any skills or knowledge you have gained or honed since your last pay raise. Joining associations, getting referrals or being recognized for your work, for example through an industry award, deserves to be recognized.
You want to focus on why you deserve the increase, not why you need it. Avoid talking about personal expenses, for example, or talking about a coworker. Instead, itemize your accomplishments and contributions to the business.
When you’ve landed on a number, say something like, âBased on my market research and X projects that brought Y value to the company, I think I deserve Z,â says Kathryn Minshew, Founder and CEO of The Muse career site.
âYou might be tempted to ramble at this point in an effort to complete the number. Don’t do it,â Minshew said. “Stop there, and wait for your manager’s reaction.”
And you don’t have to wait for your annual exam to apply for what you want, says career expert Joe Mullings.
âSet up a meeting with your supervisor and present the accomplishments of the previous period, how the supervisor benefited from them, what the loss would be to the organization if you were no longer part of the team, and what it would cost to replace yourself and the time wasted doing so, âsuggests Mullings.
3. Have a backup plan
Always have a plan of action in case your initial request is denied. Determine if there are other options you can negotiate, such as funding your employer for a new certification or a more flexible schedule. Other benefits to consider include student loan repayment, improved sick and paid family leave, child or senior care benefits, or the ability to work from home.
âKnow your options, understand what motivates you to do a job well done and ask for it,â Jay says. “Bosses and employers who want and value their employees will always do what they can to keep them.”
If you don’t get the raise you want, Mullings suggests asking your supervisor what you need to provide to get one. Then, write down what you accomplish each month over the next year and how your supervisor and your business have benefited.
“The evidence in the hands of your supervisor will allow them to seize the powers that be that decide on merit increases,” he says.
That said, if you’re still not happy – let’s say you’re outperforming and your company still won’t compensate you to your satisfaction – know that many workers get the biggest pay raises when they change jobs. Especially now, you might be able to find a higher salary or better benefits at another company.
What’s your best tip for getting a raise? Let me know at [email protected].
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