Ask for a Raise With This Formula
When you ask for a raise, you will do better by focusing on the value you bring rather than your own needs. You probably don’t want to blurt out, “Hey, I have to pay the bills, and you haven’t raised my salary in three years,” even if that’s true. So what do you say?
It helps to think of your query as a formula that looks something like: Introduction + Cost + Price + Conclusion. Here is the gist of each factor.
Introduction: First, preface your request with a short introduction. Something like, “Thank you very much for agreeing to meet with me. I have been working at [Initek] [5 years]. During this time, I have helped the company grow, and I grow with it. “
Value: Then remind them of your value. List a few of your major recent accomplishments (which is why, as corny as it sounds, it is helpful to keep a list ). Define as much as possible. “I helped the company attract 2,000 new customers in just three months. I created a presentation, which is now being implemented in five of our other offices. The standard rate for someone in my position with this level of experience is $ 55,000. “
Price: After you have determined your cost, state your price. What exactly are you asking for? For example: “I want my salary to match the growth that I have at this company, so I want to ask for a $ 5,000 pay increase per year.”
Conclusion: Finally, complete this. Close on a high note and express your appreciation. Focus on adding even more value. “I am committed to helping this team grow even more in the future, so I appreciate your attention.”
You don’t want to follow this script because it sounds like a script. However, it is helpful to keep this structure in mind.
when you are trying to figure out exactly how you will justify the increase in salary based on your own achievements and skills.