How to Ask for a Raise

Asking for a raise is one of the most important and most challenging conversations that you can have with your boss. It does pay to be assertive and you should not be afraid of having these conversations but how you handle it is critical.

Here are effective tips that can help you get the salary that you want.

  • Know the dynamics in your company in terms of timing but also how the business is doing. Some firms hold salary negotiations strictly during annual reviews and appraisals whereas others are more fluid. Take that factor in consideration when planning to ask for a raise. You should also consider the financial condition of your company. Your career will not be helped by asking for a raise insensitive to the fact that the company is struggling.
  • Research on the salary range of your position and industry.  Talk to head-hunting companies like Mongolia Talent Network to understand what your ‘fair market value’ might be.
  • Be prepared to justify your request through your accomplishments and skills. Be ready to take on additional responsibilities and commitments. A raise can mean increased tasks and bigger obligations.
  • Maintain professionalism. Be fair with your boss. For instance, do not tell him that you have another job offer from another company when there really isn’t one. If you really deserve the raise, you will be given the raise. Other tactics could backfire, particularly in the current job market.
  • Set up a meeting. Don’t just corner your boss during lunchtime. Set a formal meeting in a private space, so that you converse in private and can establish the seriousness of your intent.
  • Be ready for anything but don’t feel the need to respond immediately. If your boss doesn’t feel that you merit the increase at this point, try to understand whether or not there is anything he can offer in terms of training and development or in another area that would help you feel more valued. Try to understand when a pay rise might be possible. And don’t feel the need to respond immediately. Take time to think through a response and certainly do not make threats (like resignation) that you are not 100% sure you will follow through.

Ultimately, the best way to get a raise is to do more than what is expected of you. Do your best in all the tasks that are entrusted to you, and you will be recognized for the hard work that you do for your company.

Search Jobs

Advanced Search