How to Ask for a Salary Increase?

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Asking for a salary increase is often embarrassing and stressful for an employee. To be fully ready on the day, you must be perfectly prepared. You don’t want to be too cool and arrive with your hands in your pockets. 

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The most important thing for a salary raise is to have the correct arguments, to have in mind the salary policy of your company, to do it at the right time, not to stress, and to talk to the right person.

Reasons Why You Should Ask for a Salary Increase

Generally, you don’t get a pay raise for any reason. Different aspects influence managers and are a great reason to offer you the opportunity to negotiate a raise. Find out more about these aspects.

When Objectives Have Been Met

If your various objectives have been met, you have already completed a significant challenge, and success after success, you should ask for a raise because you simply deserve it.

Important point: a raise and an exceptional bonus are not the same. The complete success of a project does not necessarily justify the request for a raise. For such a situation, a bonus is usually a more justified reward. Often, a raise represents recognition for continued work or a change in responsibility.

If Your Salary is Not in Line with the Market

For various reasons, your compensation is below the average for your position, considering your experience. For this case, a salary catch-up of around 5% should be discussed in the annual budgets. The employee should not present his manager with the given fact but discuss this point with him well before the budgets are closed.

Knowing how to prepare the employee before the negotiation is opened is essential. Make sure you are well informed about your company’s salary policy. This will prevent you from being too greedy. If the group is used to giving increases of about 4%, don’t ask for double or triple!

Know the Financial Health of the Company Before Asking for a Raise

First, we recommend you learn more from your manager about the realities of the company’s economic health: 

Is the company close to bankruptcy? Has the company managed to keep its head above water? Has the group benefited from the Coronavirus to make a profit? Depending on the answer to this first question, you will be able to see whether or not you can apply for an increase.