When To Ask For A Raise (& Tips To Make Sure You Get One!)


Research shows that 2 in 3 workers who quit their position cite an inadequate salary as the driving force behind their decision. In many cases, it may have been possible to avoid quitting by proactively seeking a raise. However, any expert in this field will confirm that timing is everything.

When is the right time to ask for a raise?

Pay progression is usually linked to legal requirements (minimum wage increases), a reflection of increased living costs, increased market rates, performance-based payor your length of service.

You may feel that you are deserving of a salary increase, but it counts for very little if you are unable to convince your bosses that you are not currently compensated to the level that you deserve. The following five instances are all good indicators that your hopes Of securing a raise will be high.

The market rate is higher for your position

Perhaps the most effective way to determine whether you’re underpaid is to compare your salary to the earnings of other workers who do the same job. There are plenty of online platforms to value your resume While checking job listings and speaking to other people in your industry should provide further clarity.

There are other factors to consider, such as your experience and location, any clear discrepancy between your earnings and the average salary for someone in your role should not be ignored.

It’s time for your annual review

An annual review is the opportunity moment to bring up your hopes of an increased salary. A lot can change in a year ranging from living costs to your experience and achievements. It is particularly useful when you have gained positive feedback from your boss or when you have successfully completed your first year with the company.

If it is your first review while working for the company, you should ask for advice on how the meetings are usually handled. This will help you prepare and find the opportunity moment to raise the topic.

You have had an increase in…


Source link

Recommended For You

About the Author: News Center