How to ask for a raise
Category: Economics - Business
Status: 1 token - Active
I've been in my current company for a year and inflation has hit. Should I ask for a raise and if so, how do I go about asking for one?
Doing a quick google search on your position and the average salaries can help give you a good estimate of what to aim for. Since companies usually base raises on job performance than the cost of living you should also look into the salaries of people across all industries. Yahoo finance suggests using the current inflation rate to base your request on and then adding additional money related to your performance. Consider what perks and benefits you want as well. If you don't get the raise you want you can at the very least get some accommodations like a gas refund or flexible hours to work from home.
To prepare you should have your request written out so that there's a paper document. Ask yourself why you want the raise in the first place and brainstorm your thoughts. The best time to ask your boss for a raise would be around November and December since most companies give out raises at the first of the year. This way they'll have your request to consider ahead of time. You should approach your boss with confidence and be well-researched to answer any questions and make important points. Here are some more in-depth tips on how to ask your boss for a raise.
Don't be afraid to follow up on the request, at the end of your meeting you can ask if it's ok to get back to them about it after two weeks or so.
I’m constantly alarmed by how many people tell me they’ve never asked for a raise. They feel awkward about initiating the conversation, or feel like they never get an opening to do it, or they’re worried they’ll sound greedy, or they just have no idea how one would ask for a raise at all. Instead, they rely on their employer to notice their good work and offer them salary increases — a strategy that can leave people earning far less than they could be receiving if only they’d speak up.
Forbes has a better insight about asking for a raise. Meanwhile, there are ways to go into the conversation with confidence—and come out of it with a raise–or at least something else desirable you want. However, find key steps to remember when you negotiate salary, and what to do if the response is no.
Here is exactly how to ask for a raise based on inflation, according to career experts It’s worth noting that all the usual raise-talk advice applies when you’re asking for a raise based on inflation—that is, don’t spring the meeting on your supervisor spur of the moment, and be empathetic and generally positive. But, there are a couple of key factors to keep in mind when you’re thinking about how to ask for a raise based on inflation at the present moment. In fact, the “present moment” is key here, as you’d be wise not to wait until your company’s regular performance review cycle to bring it up. Here are four things to know about how to ask for a raise based on inflation, in particular.
Personally, I will follow the advice in the last paragraph. I hope you find this useful.
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