to ask for a raise (and actually get it!) //

Are you being paid what you deserve or what you want to be? In fact, 46% of employees feel that they are underpaid. PayScale’s Gender Pay Gap Report 2023 also concluded that there is still a disparity in the way men and women get paid. The data also shows that the gender gap is larger for women of colour, women with higher levels of employment, and women who work in certain industries and occupations.



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It can be difficult for many to ask for a pay raise.

In my 12 years of experience in recruiting, I have hired thousands and trained thousands to find employment. In the last seven-years of my career in recruiting, I have made 400 job offers and negotiated a hundred salaries. Implementing the strategies below to get a salary increase, I grew mine by 57% with the same employer.

You’ll learn my tried and true tips to get a raise to ensure that you are paid what you deserve.

You can also use a few email examples to start a conversation with your supervisor.

What to do Before You Ask for a Raised

You must understand market values before you can ask for a pay raise. Why does the manager of the store make more money than the cashier? The cashier’s job is to operate the cash register, check out customers, and provide friendly customer service. The store manager’s responsibilities include managing employees (hiring and firing), driving sales, managing P&L and maintaining inventory.

Why does the manager of the store make twice as much money as the cashier?

The skills and value that they bring to the store, as well as the level of responsibility they have are what separates them. The market value of a skill set is its relative value to a company in a specific industry.

Five factors that affect your salary

To get a raise, you need to know your value, improve your skills and increase the value that you bring to your employer. Your income will often be based on the value that you bring to the market.


These are the five factors which determine your salary:

  1. Skills A set of abilities you provide to a company as compensation.
  2. Experience Your level of expertise as demonstrated by your previous results.
  3. Company: A specific company that you provide your services to in a particular industry.
  4. Industry: Your company’s industry (retail, banking and e-commerce; insurance, technology etc.). ).
  5. Geography Location of your job in the country or world

Examine each factor and learn how it impacts your market value, as well as your ability to request a raise.

Befor we continue, let me make it clear that when I say something has “low value” and “high value”, this does not have anything to do with the intrinsic or moral worth of a person. It is more about the business value of the market.

You can also learn more about

Dan Lok is a well-known entrepreneur and investor who often talks about “high-income skills”. The skills that are associated with a higher salary include public Speaking, Cybersecurity, Supervising, Copywriting, Teaching, Sales, Web Design, and Digital Content Creation. These are highly specialized and complex skills which require time and training to master.

To create a higher salary and to get the raise that you want, it is important to learn skills for high income.

You should also consider your job title. Most job titles are based on experience and skill, so you need to take this into account when deciding how much of a raise you want.



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Experience

Which doctor do you prefer to have perform your heart surgery, a rookie or a veteran? The veteran, of course! Why? You can be more confident that the experienced doctor will do the right thing because of his or her experience. Your employer will also evaluate your performance when deciding whether to give you a raise.

Your experience is a combination of four elements:

Take advantage of opportunities for professional development that are associated with your industry and job to enhance your experience. Do your job well and work to improve over time.

Companies

Blockbuster or Netflix: Which is better? I can’t believe these two companies were once competitors. They both started out in the video-rental industry, but ended up with two very different results. Blockbuster was clearly the market leader when Netflix launched in 1997. Netflix’s value was $203 billion by 2020. Blockbuster has only one store left in Bend, Oregon.



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Leadership, strategy and execution of a company can make a big difference to its position within an industry. Your chances of receiving a raise are affected by how well your company does. When you ask for a raise, be aware of the current situation at your company and that of its competitors.

Industry

In the last few years, different industries have been affected in different ways. The pandemic affected industries such as travel, entertainment and restaurants. While some of these industries are beginning to show signs of improvement, others have been affected by supply chain problems. rising prices have had a major impact on most industries.

Be aware of the latest trends in your field and their impact on your job and company. You can use this information to determine when and how much you should ask for a pay raise.

Geography

Salary levels for the same job can differ depending on your location due to differences in taxes, cost of living and other factors. I’ve hired people who took a pay cut of nearly 50% to move to Texas because it has a lower cost-of-living. Use tools such as PayScale’s Cost of Living Calculator in order to compare your city to other cities.

After you have a good understanding of market value and five factors that affect my salary, your next step will be to determine when to ask for an increase.

When to ask for an increase

No rule exists regarding how frequently you can request a raise. There are certain times when getting a raise is more likely.

Salary Review

The majority of companies have a salary review schedule. My last employer had annual salary reviews. Some companies review employees’ salaries at least twice per year. Ask your HR department if you’re not sure about your company’s salary review cycle. You should ask for a pay raise now.

Performance Review

Performance reviews are conducted by companies more often than salary reviews. My last company conducted performance reviews quarterly. You can ask for a pay raise by meeting with your supervisor to discuss performance.

Outlier event

Companies that are good will reward exceptional performance. You won a big account. You optimized a workflow and saved your company millions. Implemented a program of recognition that increased retention 50%? You can ask for a pay raise any time you do something extraordinary for the company.

Four simple steps to request a pay raise

It’s now time to ask for an increase. You know what determines your salary and when you should ask, but you don’t know how much. Follow these three easy steps to ask for a raise.

1. Know your worth

You can use salary research tools like PayScale Glassdoor and Indeed to find out your market value. To get the most accurate valuation, you can include parameters like job title, experience and location.



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You can ask others about their salaries if you are bold. Document the salary you are offered by recruiters or other companies every time they call you.

Take as many data points you can, wherever you can. These data points will be used to help you build your case for a raise. The most effective way to request a raise involves using logic and data, not emotions.

2. Specific

As with all negotiations, ask for anything you want! You must be able justify your request.

The average market salary is 35% your current salary. It will depend on your company, your industry as well as individual performance and experience.

3. Build your own case

You need to produce great results if you want a raise. Document every success, achievement, and result that you have produced to move the company forward. Yes, I am asking you to maintain a record of your results.

You will become a better worker because you are more aware of your contributions to the company. The greater awareness you have will increase your confidence in asking for a pay raise.

You should document the best results you can, such as cost savings, time saving, revenue increase, and efficiency.

Here is a real-world illustration: When I started my new job with my former employer, there was a pile of receipts for staffing agencies. Staffing agencies typically charge 20% of the candidate’s salary base as a placement fee. A $100,000 software engineer will cost you $20,000 in hiring fees. My job as an internal recruiter was to reduce the company’s dependence on staffing agencies in order to cut costs. In my seven years at this company, I hired 400 team members without paying a single placement fee. I tracked every hire and calculated how much an agency would have charged us. This is how I grew my salary 57%, and was ranked among the top 1% corporate recruiters across the country.

4. Ask for it

Directness and results are key. Preparation is the key to a successful ask. Speak in terms that your manager will understand.

These are the actual points that I have used to get me raises.

You can see that I am a big believer in tying results to cost reductions and increased efficiency. This is an effective way to get a pay raise. It should also show you how you should and can structure your results.


Email examples that you can copy and paste to request a raise

It can be challenging to ask for a pay raise, but the first step is not difficult. You can use these email templates to create your own.

Remember, though, that it is always better to discuss a raise in person or virtually so you can talk with your manager and hear their feedback.

Email template 1: Starting the Conversation


Dear [insert the manager’s name],


I’d like to schedule a time to talk about a performance-based pay increase. In light of the points below that have helped the company move forward, I think my performance is worthy of a review.


[Insert your supporting points]


[Completed] [specific task] created [measurable result] which resulted in (quantifiable benefits to company).


Let me know what time and day you are available to talk with me.

Email template #2: Scheduling salary review


Dear [insert the manager’s name],

I’d like to schedule a time to discuss my salary. According to PayScale, Indeed, Glassdoor, and PayScale, according to the market information cited by them, [your title] has [# of experience] in [your location/city] earns an average salary of [avg. Market salary]. I am currently earning [%] less than the average industry salary.


In our next meeting, I would like to respectfully ask that my salary be reviewed to make sure it is in line with the average market rate. Please let me now if you need any more information before this conversation.

Get your raise now!

To get a raise, the best strategy is to make yourself more valuable to your employer. By improving your skills, showing effectiveness and producing excellent results, you can become more valuable. Know your worth, show results, be confident in your argument, and ask for what you want!

Author

Julian Placino, a Senior. Julian Placino is a Sr. Home can be found on on YouTube or on LinkedIn. You can also visit his site.

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