How To Ask For Salary Increment

How To Ask For Salary Increment: Key Steps

When you’re wondering how to ask for salary hike, it’s essential to first assess the level of your performance at your organization. Employees who have been unfailingly producing quality work are most likely to have their request for salary increase granted compared to employees who have been consistent slackers. Here are the key steps to keep in mind when you decide to ask for a raise:

Ascertain Your Value

If you’re wondering how to ask for salary hike, you probably have the target amount you want in mind. However, it’s important to check whether your expectations align with your performance within the organization and the current pay trend in your line of work. There are a lot of salary information websites available today that can help you get a fair idea of the current range of salary with respect to your position, experience and city. Compare your current salary with the trends to determine what a suitable raise amount would be.

Research

When you ask experts how to ask for salary increment, many will swear by detailed and thorough background research as the most important step because it helps you lay the foundation on which you’ll eventually build your case. Look into your organization’s policies and employee handbooks to find out what the trend for salary increments is. Is there a specific compensation policy in place? Do pay hikes usually occur after performance appraisals? This information can help you make a well-timed request for salary increment.

Prepare

Once you’ve ascertained your value and researched organization policies, the next step is preparation. Go through all your recent assignments and projects where you went above and beyond expectations. Quantifying your performance with data helps you make a solid case for yourself when you put in that request for salary hike. The various types and methods of performance appraisal that organizations use can help you gain a comprehensive understanding of your strengths and weaknesses. Work on your problem areas to better your chances of getting that raise. It’s also a good idea to practice your pitch for a raise with a friend or colleague before going in to have that conversation with your manager.

Ask For Feedback

Managers appreciate proactive employees who make a conscious effort to improve at their job. Have open and honest conversations with your manager regarding your performance. Ask for feedback and recommendations on how you can improve and take on more responsibilities. Implement their feedback to better your chances of getting the raise when you finally request for salary increment. Being overly pushy while asking for feedback, however, can do more harm than good.

Set Up A Meeting

The worst mistake you can make while asking for an increment is springing the question on your manager when they’re least expecting it and catching them unawares. Set up a meeting with your manager well in advance and let them know you’d like to discuss your performance and compensation with them. Remember to focus on why you deserve that raise instead of on why you need it when you step into that meeting. It’s also important to pay attention to the way you behave during a conversation on salary increment with your manager. Courtesy and professionalism go a long way in demonstrating your suitability for that much-coveted raise. Express your gratitude for being able to work for your organization, convey your future career goals with enthusiasm and exude confidence through body language.

Do you now have the answer to how to ask for a raise? Asking for an increment, however, doesn’t always mean you’ll get one. Instead of letting rejection dampen your enthusiasm, ask for ways in which you can get more involved in the organization, seek professional development opportunities and establish specific goals and timelines for yourself with your manager.

How To Write A Salary Increase Request Letter

Many employees choose to make the ask for a raise in writing to ease that sense of discomfort an in-person discussion often brings. A written request also leaves a paper trail and helps you formally document your request for salary revision. If you’re wondering how to ask for salary hike in writing, we’re here to help. While the basic steps of asking for an increment remain the same, here are the most important points to keep in mind while writing a salary increase request letter:

Dos

Use formal language

Highlight any additional responsibilities you may have undertaken during your tenure at the organization, especially ones that helped boost organizational profits and/or productivity

Include all rewards, incentives and accolades you may have received within your organization for exemplary work, such as successfully spearheading an important project

Mention the exact raise amount you’re expecting. This shows your manager you’ve done your research and know your value. However, it’s important to set realistic expectations

Conclude your letter thanking the addressee for their time and consideration

Don’ts

Don’t compare your pay scale to that of your colleagues and peers. You want to focus on the value you bring to your organization and not on how much money your coworkers make

Steer clear of complaining about organization policies and workflow

Avoid putting in any personal or financial concerns you may have while asking for a raise

If you’re still unsure of how to write a letter to request for salary hike, there are plenty of sample letters on how to ask for salary increase available online. Tailor your search to your requirements to find the perfect sample letter requesting salary increase for employees and craft the perfect request to ask for a raise.

When To Ask For A Raise

You know how to ask for a raise in salary. You know how to write a letter to request for salary increase. But when is the perfect time to ask for a raise? Let’s find out:

Annual Performance Review

Organizations usually look to reward high-performing employees with pay hikes after their annual performance review process. Therefore, one of the best times to request for salary increment is after receiving a positive performance appraisal report. A request at such a period is not only expected but also timely and hence more likely to be granted.

After Significant Achievements

Looking at and assessing your recent wins can help you gauge the best time to request for salary increment. Have you just achieved a significant milestone in the organization? Have you successfully helped your organization crack a huge deal? If yes, you could consider putting in that request for salary hike. Make sure you document all your recent accomplishments in one place to make your manager’s job easy. They’ll be mentally thanking you for not making them sift through a stack of heavy files!

It’s also important to be aware of the financial health of your organization before you place a request for salary increase. A particularly stressful period for your manager, whether in terms of workload or other concerns, is also not the best time to ask for a raise. Rather, being mindful of their needs and postponing your request for salary increment will present you in a favorable light before them.

The Next Big Leap

Harappa’s Ask For A Promotion pathway can be your guide to asking for an increment the right way and bagging that promotion you deserve. This pathway will arm you with data to support your request, while also helping you exhibit confidence and stitch an effective promotion pitch. You’ll be able to put forth an authentic narrative that highlights your contributions and defines your value in the organization. As you pick up Thrive Skills such as Competing Fairly, you’ll learn how to build strong allies and negotiate smartly. Sign up today for Harappa’s Ask For A Promotion pathway and learn how to properly ask for a raise as you take the next big leap in your career.