With a struggling economy and inflation, finances are often at the forefront of employees’ minds. While leaving your job for a new position might sometimes be the best solution (and if you are job hunting now, make sure to download the FrogHire.aiextension which will help you filter your job search via various parameters—e.g., work visa sponsorship, location, job field), you may have many reasons for wanting to stay with your current employer—so your first solution may be to work up the courage to ask for a raise!
When asking for a raise, you always want to present a compelling case to your manager; just walking in and saying you work hard for the company will not be sufficient.
Here are five key points to bring to your manager’s attention:
Accomplishments and Achievements:
- Highlight specific achievements and contributions you have made to the company. Discuss how your efforts have positively impacted projects, teams, or overall business success. Quantifiable achievements, such as meeting targets or completing projects ahead of schedule, can strengthen your case.
Increased Responsibilities:
- If you have taken on additional responsibilities or roles beyond your original job description (e.g., that little section of our job descriptions which say “other duties as assigned” often grows the longer we stay at a company!), make sure to emphasize this. Discuss how you have successfully handled new tasks and showcase your ability to adapt and contribute to the organization’s growth. Be as concrete as possible in case your manager is not aware of your specific contributions.
Market Research on Salaries:
- Conduct research on industry standards and average salaries for your position and level of experience. Present this information to show that your salary expectations are in line with industry norms. This demonstrates that you are aware of your market value.
Professional Development:
- Highlight any relevant training, certifications, or skills you have acquired since your last salary negotiation. Demonstrating a commitment to continuous learning and professional development positions you as an asset to the company, potentially justifying a higher salary along with the networks you have created.
Future Value and Goals:
- Discuss your commitment to the company’s long-term goals and how you will continue to innovate within your company. Share your career goals and hopeful trajectory within the company and explain how a salary adjustment would motivate and enable you to achieve those goals.
TLDR: Remember to approach the salary conversation with confidence, be prepared to provide evidence supporting your points, and be open to a constructive discussion. If you walk away unhappy with the resolution and find you may need to search for a new position, download the FrogHire.aiextension which will help you filter your job search while also comparing your resume to each job post, helping you with a “skill match percentage” (between the skills you list on your resume and the job opening), allowing you to further refine your cover letter and resume.