CEOWORLD magazine - Latest - Executive Education - 7 Brilliant Ways To Ask For A Raise & Get It

Executive Education

7 Brilliant Ways To Ask For A Raise & Get It

No matter how much do you deserve it, asking for a raise is a tough task. You may dread it, you may avoid it, but deep down inside – you really, really, want it. So, why not prepare well for it and get the raise you badly want? Yes! You can get the raise you want! All that’s needed is a bit of preparation and a lot of confidence to get going.

Here’s a list of some brilliant ways that can help you ask for a raise and get it.

  1. Research about the market scenario

Rather than wasting your time fretting over not getting the much-deserved hike on your salary, it is better to do a comprehensive research instead. Try to get a hang of the market conditions and know the average salary of people who are in positions similar to yours and who possess the qualifications and experience just as you do. You can spend some time browsing websites like Glassdoor and PayScale to get an idea of what you should be taking home every month as your salary. Once you get a clear idea of the industry standards, then move ahead on your mission to get a hike.

  1. Time it right

Even though there is no good time to ask for a raise, you still have to time your salary raise request right. Experts suggest that you should avoid asking for a raise right after holidays or weekends – for obvious reasons. Instead, you can ask for a raise after you have closed a great business deal, when you think that your boss has started seeing you as a valuable resource to the company, when you are assigned an important project, when you have over-achieved your targets by a huge margin, or when your company’s profits have increased by leaps and bounds and you have a considerable contribution to make that happen.

  1. Plan your pitch

When you talk of your raise, don’t simply start with the need of having more money or the salary that you think you deserve. Be thoughtful of your boss’ feelings and talk about projects, performance, and revenues first. When you set in the conversation flow, then slowly move towards the matter that you want your boss to address.

  1. Keep it formal

Don’t be an eager beaver when you are discussing your salary hike. Avoid getting personal or bringing your family reasons into the meeting. Try to keep it as formal as you can. Talk about your contributions to the organization, not about the problems that you are facing because of the low salary. Don’t let the meeting wander towards subjects that have no significance to the company. Your boss may snub you if you do so, and then you will be heartbroken. Rather than acting from your heart, act from your mind. Be rational, not emotional and try to prove your worth to the company. Because at the end of the day – that’s all that matters.

  1. Politely respond to a ‘No’

Be prepared to get rejected. Don’t be overbearing in such a situation where your boss straightway refuses for your salary appraisal request. And never ever lose your temper or be rude. If you think that your boss is not ready to listen to your case, then ask for a suitable time when you can talk about it again. Tell him that it matters to you and if you will not be happy, then you may not be able to give your 100% to work. If you are truly a valuable resource to the company, then your boss will have to pay heed to your words.

  1. Don’t be scared to ask questions

Never rush to a conclusion. Just because your boss thinks that a said amount is good enough for your salary hike, it’s not necessary that it will be. Thus, take time. Breathe slowly and think again. Ask questions like, “Do you think this salary is justified for the work that I do and the contribution that I make for the company?”, or “What can I do to get the salary I think I should get?”, or “Do you want me to take bigger responsibilities to get the hike I really deserve?” This will set the pace of negotiation and you will give your boss a chance to think again, before concluding the meeting.

  1. Finally, take it all down to your performance

Your achievements can take you to places. Whatever you have attained so far – the number of projects you have handled, the long list of clientele that you have brought to the company, the number of times you have gone the extra mile to do something that you weren’t even responsible or accountable for – every little thing needs to be mentioned and brought into the limelight. You can write your achievements on paper and create a file or a presentation. Do all that you can to show your performance and how it helped the company reach this far. Be so good that it becomes difficult for your employer to ignore your raise. And, then just go and get it!

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CEOWORLD magazine - Latest - Executive Education - 7 Brilliant Ways To Ask For A Raise & Get It
Prof. Dr. Amarendra Bhushan Dhiraj
Prof. Dr. Amarendra Bhushan Dhiraj is a media and technology executive, macro-economist, strategic thinker, chair, and chief executive officer of the CEOWORLD magazine, one of the world’s most influential and recognized global news publications. Under Dr. Amarendra's leadership, CEOWORLD magazine has become the world's most iconic news organization, whose rigorous reporting and unsurpassed storytelling connect with millions of business leaders daily. Additionally, he serves as the chair and founding member of the CEOWORLD magazine’s Inclusion Advisory Board.

In his current role, he counsels and collaborates with c-suite executives of large multinational corporations, helping them drive change in their companies to improve their competitiveness. Dr. Amarendra has extensive experience in serving on numerous boards. He leads and supports a globally dispersed team of columnists, correspondents, editors, journalists, reporters, researchers, and industry analysts.

He received his Ph.D. in Finance and Banking from the European Global School, Paris, France. He also received his Doctoral Degree in Chartered Accountancy from the European International University Paris, France, and a Doctorate in Business Administration from Kyiv National University of Technologies and Design (KNUTD), Ukraine. He earned his Master of Business Administration degree in Finance and his master’s degree in Chartered Accountancy (CA) from European Global School Paris. Dr. Amarendra also holds a Master of Business Administration degree in International Relations and Affairs from the American University of Athens, Alabama, United States.

As CEO, he transformed the CEOWORLD magazine into a highly efficient, digital-first, profitable enterprise. Today, CEOWORLD magazine is a standard bearer for modern responsible journalism. Dr. Amarendra retains a strong desire to continuously improve his skills and abilities and believes that the first step to being a true leader is to inspire others to lead with you.

Prof. Dr. Amarendra Bhushan Dhiraj is the CHAIR, CEO, AND EDITORIAL DIRECTOR of the CEOWORLD magazine. Connect with him through LinkedIn.