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How to Ask for a Salary Raise

If you believe you should be paid more for your work, the only two options are to find a new, higher-paying job or to request a salary raise. If you like your current job and believe you can advance there, negotiating a raise should be your top priority. As simple as asking for a salary raise may appear, it is a difficult task. As a result, this article published on The Economic Times explains in detail how to ask for a pay rise easily.

The article provides several important tips for navigating the process of requesting a salary raise, the first of which recommends having complete information about your company’s compensation structure, pay comparisons across levels and the responsibilities that go with them, knowing your key results area, and knowing the reward policy for achieving and negotiating the salary. The article emphasizes that whether or not you will receive a salary raise is dependent on your documented performance. You must keep an eye on your key result areas and ensure that both your team’s and your boss’ goals are met. According to the article, the size of the pay raise will be determined by how well you, your team, and the company perform. Hence, it is imperative for you to work well on your results in order to receive a salary raise. Another important tip mentioned in the article is to research the trend of pay raises in your company over the last three years. This will not only assist you in determining how much of a raise you can request, but it will also assist you in crafting a realistic request for a salary raise. The manner in which you communicate your request to the appropriate person determines whether or not your request for a salary raise will be granted. As a result, the article believes it is critical to figure out what works best with your boss when it comes to negotiating a salary increase. It is critical to consider what mode of communication will be most effective; does the request needs to be fully formal or emotive, and will an assertive approach or a polite request work best for them. It is also critical to determine the best time of day or work cycle to request. One of the most important tips to ask for a salary raise is to schedule the right time. According to the article, you should present your request three months before the fixed performance review cycle, or preferably immediately after you have achieved a significant milestone. Avoid discussions if your company is undergoing cost-cutting measures, advises the article. Some of the most important recommendations include preparing to ask for a salary raise before actually asking for one. The article suggests treating this as just another meeting, writing a script, acting it out, and then actually doing it to prepare yourself for your boss’s logical questions.

As the article nears its conclusion, it lists some strategies for dealing with a ‘NO’ if your request for a salary raise is denied. These include asking when you can expect a salary increase if your boss is ambiguous about the reasons for rejecting your request, requesting a better designation if your boss wants to reward you differently, and negotiating the work content in exchange for a salary increase. These pointers will assist you in dealing with a request denial effectively.

It is critical to request a salary raise if you believe it is well deserved. A pay raise increases your motivation and dedication to your job. However, the process of requesting it is an overwhelming one. The process is undoubtedly daunting, but the tips listed in this article published in The Economic Times will undoubtedly help you make it a little easier on yourself.

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