Quintessential Careers Blog

If you aren’t earning what your talent and sacrifices are worth, it’s time to ask for a raise. Though this is easier if you’re already at the higher end of the wage scale, it doesn’t mean earning a raise is impossible.

 

According to the recent release of an annual report published by Payscale, workers who earn lower salaries are less likely to ask for raises than those who earn more. In fact, just under half of all workers in the US have asked for a raise. Most of these workers already have salaries in excess of $60,000 per year. Those who have never asked typically earn salaries below $59,000.  At the same time, the odds of a positive response to a raise request appear to increase as individual salaries increase.

 

So we’re more likely to ask for more if we already have more. And the more we earn, the more likely we are to receive the raise we request. In order to join the population of higher earners, you need a foot in the door. As you work towards this goal, keep a few considerations in mind.

 

Negotiation is within your control

 

Some aspects of your earning potential may lie outside your influence. For example, if you work in a small niche industry, your employers can’t pay you a salary on par with Hollywood actors. And if you can’t move, you’re bound to the salary trends that prevail in your local area. But your decision to ask for a raise is always within your control. So make the most of this fact and leverage this option as soon and as often as you can. Remember: You miss every shot you don’t take; even a minimal increase in your salary can make a big difference in your finances.

 

Speak with confidence

 

If you know what you’ll do regardless of the outcome of your request, then you have no reason to fear. Before broaching this conversation, know exactly how you’ll respond to a yes or a no. If it’s a yes, great. But if it’s a no, be ready to contemplate your next move. Do you stay and work to finesse your skills? Do you shift your attention to other opportunities? Keep your resume file updated and ready.

 

Conduct research beforehand

 

Before you meet with your boss to make your case, spend some time online. Determine the median salary for similar positions in your geographic region for employees with your experience. You can also search for parallel positions in other industries. Try Glassdoor and Salary.com to start.

 

Recognize the metrics

 

You may calculate your ideal salary by factoring in your long commute, your difficult tasks, and your expensive education. But your employer will use only two metrics to make this assessment: Your replicability, and the amount of money you make for the company. That’s why Lebron James gets paid so much: his every move makes lots of money for many people. Plus, there’s only one of him. So as you set the bar for your salary increase, use metrics. Let’s say you struggle with a long commute. You may calculate your ideal salary by factoring in your unique talents, impressive work ethic, then explain how your long commute adds stress and therefore threatens these attributes. If you were to obtain a salary increase, the stress of commute expenses (bridge toll, gas, parking permits, train tickets, and so forth) would be eliminated.

 

Ask nicely

 

The way you ask can—and will—influence your results. Set the stage. Arrange an appointment with your boss; don’t blurt your request the next time you catch her. When your appointment takes place, frame your request in the right tone. Emphasize what she stands to gain by saying yes. Keep the focus on what’s good for the company, not just what’s good for you.

 

React appropriately

 

If you request a raise and receive a no, push back, bounce back, or move on. Ask why you were rejected. Ask what you need to do to earn a yes within six months. And if this last move doesn’t work (or doesn’t seem appealing), start looking for opportunity beyond these walls. Turn to QuintCareers and use the tools and guidelines on the site to take your career in a new direction.