You work hard, long hours, and deliver consistent results, why shouldn't you get paid more?
Julie Wojnar of Virtual HR Management, an expert in employee training and retention, says it's not uncommon to ask for more money at some point during a career. Wojnar says If you have the chutzpah to request a pay hike, it's wise to start with the right approach:
1. Do your research
Learn what others are earning in your field. Then determine if you are making less money than you should be.
2. Be realistic
Remember that factors such as length of service, education/credentials, and total length of time in the field effect salary. This may account for the discrepancy between your salary and the median salary published for your field. Make sure that what you're requesting is realistic.
3. Review your company's financials
Review your company's financial reports if you have access to them. You don't want to ask for a raise at a time when the company is having financial problems. You want to make sure that getting a raise is financially possible.
4. Prepare your case
Be prepared to provide examples of your accomplishments and successes, as well as the reason(s) why you feel you deserve a raise.
5. Timing is key
The best time to ask for a raise is typically at your performance review. Make sure it is a scheduled meeting where there will be enough time to address the issue. You do not want to ask for a raise in an unrelated meeting, or when there may not be enough time to sell your case.
6. Prepare your response
Lastly, make sure you think about and prepare how you will respond if you are told no, if you are given far less than you had hoped.