How To Get A Pay Raise
Getting a paycheck bump is a dream of many. Even a mere $50 increase will lead to an annual overall increase of $600, and that excludes your bonus and Annual Wage Supplement (AWS), also known as the 13th month salary. While many hesitate to request for a pay raise, the truth is that it is absolutely possible. In fact, there is no harm in asking for a pay raise when done right.
First and foremost, it is imperative to know your value to your direct supervisor, within your department, and to the company as a whole. If you have a strong case for why you are deserving of a raise at this point in time, make sure that you are able prove it with tangible outputs. Perhaps your scope of work has expanded. You may have taken on new responsibilities due to manpower adjustments. In essence, you need to be able to convince yourself first before justifying it with your boss. At the same time, remember not to underestimate your worth and do not discredit the fact that retraining a new staff takes time.
More importantly, you need to check if your boss is aware of the extra effort that you have been putting in. Were you efforts consistent over an extended period of time? Keeping your boss in the CC of e-mails is insufficient as he may be overwhelmed by hundreds of e-mails a day. It is easy for your boss to miss it, especially if he is often not in office or is busy with handling multiple projects with different stakeholders.
Another thing to note is that timing is crucial when actually asking for a raise. Put yourself in the shoes of your boss, as well as the boss that your boss has to report to. When are raises dished out? Asking during the annual performance review may be too late as the budget may have not been set aside three to four months ago. If your sector is extremely structured and mid-year pay raises are highly unlikely, perhaps there is a specific time frame for pay raise requests.
When trying to approach your manager, do not be intimidated. Find out if he has a preferred way of being approached for such a sensitive subject. Most bosses preferred to know about the agenda of the meeting a few days beforehand so that he is prepared to provide answers and explanations. Does your boss prefer a straightforward request? Will he prefer a formal meeting or a discussion over lunch? Be prepared and have concrete evidence to support your argument. If you exceeded the KPI, know how much you have exceeded it by. If you have historical data to compare against, you can even show how well you have performed compared to the department average over the course of the past few years. Note all these points down before meeting your boss for your easy reference. Understand that a raise needs to be justified with valuable contributions.
When trying to ask for a pay raise, have an actual number in mind. This can be either a specific figure, or a percentage increment from your current basic pay. Giving a desired pay range can be helpful too. It will be good if you can quote fellow staffs’ praises as an endorsement of your performance. To know how much to ask for, know where you are on your pay grade. Perhaps you can approach your Human Resources department or ask around. If you are at the higher end of your pay grade, there may be a need to get a promotion first for the pay increment to be realised.
Remember to not threaten to leave unless you do have the intention to leave if the pay increment cannot be granted. A threaten can reveal that you have been searching for a new job, and that your heart is no longer with the company. In a similar vein, do not bring up personal issues as it is unprofessional and cannot justify a pay raise most of the time.
If you intend to stay with the company or leave on a good note, the way that rejection is handled and dealt with matters. You can prevent an awkward silence if you enquire about what else you can work on to earn the raise. This way, you can find out the reason behind your lack of pay raise or promotion as well. If your boss is unable to give you an answer straightaway, know that it is normal. Perhaps he needs to seek clearance with higher-ups to raise your pay.
As you can imagine, asking for a pay raise is a highly delicate conversation. If you can, practise it with a trusted friend. Always start on a positive note on how you have enjoyed working and how much you have learnt since you joined. It can be tempting to go on and on about what you have done, but remember to pause and observe your manager’s body language. If he seems to be not listening, then perhaps you can ask if he has any questions. Listening to their side of the story can be helpful.
(By Vanessa Ng)
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