Yoram Yasur Izz | Asking for a raise may be outside your usual comfort zone, but if you do not ask for it you will probably never get the just pay for the job you do. The first to value your contribution to the company must be one. Here are some tips to get the raise you feel you deserve.
How often should you expect a raise?
Let’s face it, we live in difficult economic times. In the past it used to be the norm to expect a raise once a year; Is no longer the case, so it is up to you to apply for a salary review.
Preparation and planning:
Determining how much to earn is not easy, but there are useful pay calculations that will help you determine the range you should expect. The other option is to look for job advertisements that cover your skills and experience to get a benchmark. If you do, you must add an element of realism to the process, so do not set your expectations with the highest salary. Choose the average of the job postings you have researched.
Once you have a figure in mind, review your accomplishments for the past six months and identify how they have benefited the company. If you have changed the way your company does something that has resulted in cost savings, estimate how much it might have been. If you have helped win new accounts, then having the amount on hand will also help. This helps guide the negotiation phase away from cost and towards value.
Synchronization is everything:
“Your annual review may not be the ideal time to ask for a raise as budgets for the year can already be signed. A general rule is to start talking to your boss about 3 to 4 months before your annual review. Try to measure the financial performance of the company and the time of your application accordingly. Keep your eye out for earnings an-nouncements or large clients to determine the timing of your score correctly”.
However, there are other cases where it is perfectly acceptable to request a salary review regardless of the company’s per-formance. This could be if the team is reduced and performs more work as a result or if it was promised a salary review at a point of time spent long.
Bringing the subject up:
All this boil down to what kind of boss he has. If they are frank and direct, you can ask them for a meeting to discuss your current salary. Ideally, you have organized a meeting for discussion where you can present your case and get feedback on it.
Make sure you are well prepared, highlight elements of your preparation that are in your favor and discuss them openly. Highlight your loyalty to the company, your achievements in the last year and how they have positively affected the compa-ny.
It is important that you remain calm and considerate and accept their reaction before negotiating further.
It is often best for your boss to suggest a number first, as it may be higher than you were willing to consent. If it is lower than the counteroffer, suggest a compromise between the two if you feel it is reasonable.
What if it’s a no?
It is always difficult to be rejected at anything, but do not be discouraged. It’s an ideal opportunity to ask, “What do I need to do to get the raise next time?” And prioritize your workload to get that. It is an opportunity to align with the company’s goals and work towards them to demonstrate their true value.
An Alternative Approach:
Yoram Yasur Izz websites experts commentary:
“An innovative approach is to be much more proactive. Identify an area of the business that is not work-ing as well as it could”. Create a project and describe what it would do differently and how much money the company could save / earn. Introduce him to his boss and offer to run the project to his conclusion to check his salary.
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