Do you think it’s time for a raise? Salary negotiations can be a daunting process, especially if you and your boss aren’t on the same page. The trick is to always be prepared, calm and confident. Here’s our fool-proof guide to getting that raise…
The career experts at bayt.com have crafted a list of do’s and don’ts to follow while negotiating a salary raise. Here’s how to get a pay rise:
Do Check Your Current Market Rate
It’s important for you to know what your peers and counterparts are being paid in your industry. If you are being paid less than average, it’s a good time to ask for a raise. Remember that it’s okay to quote an amount during the negotiation process. Aim high at first, and it will eventually lead to a mutually-agreeable figure. The bayt.com Salary Search is a great tool to help you find out. Another way to find out is by asking people in your professional network, or by checking online forums.
Don’t Be Unprepared
Being prepared is essential before beginning any conversation about a salary increase. It’s unwise to simply go to your boss and complain about not being paid enough without doing your homework. Did you do something extraordinary for the company? Have you not received a raise in the past year? Are you consistently reaching your targets and you feel under-appreciated? Always start a conversation about a salary raise with proof in hand. Prepare a list of counter-questions and arguments that your manager might bring-up, so that you don’t fumble in the negotiating process.
Do Have Face-To-Face Discussions
Face-to-face discussions are the best when seeking a pay rise. Avoid trying to have the discussion by email or over the phone. Set a time and place to meet with your manager in a private setting such as a meeting room. The bayt.com Employee Engagement in the MENA poll, April 2014, reveals that seven in 10 professionals in Middle East and North Africa are comfortable enough to voice their opinions to their manager, so don’t worry! Always be calm and confident, and never get emotional while putting forth your case.
Don’t Ask At The Wrong Time
Always ask for a salary raise at the right time. If you have already received a raise in the past six to nine months, then you should probably reconsider asking for one again. Observe your surroundings and the state of your department. Is your boss talking about not being able to meet the budget, or cost-cutting? Has your company been going into losses lately? If this is the case, it’s better to put off the conversation until the situation improves. The same principle applies for new employees as well.
Ideally, the best time to ask for a raise is at the year-end performance appraisal. This is because budgets are usually being reviewed at this time, and you and your manager can have an in-depth discussion about your performance. It’s also the best time for you to be open and honest with your manager.
Do Think Like Your Boss
When the question of a raise arises, your boss will probably think about the value it will generate for the company. After all, they will have to justify the raise to their superiors as well. Think in terms of numbers. Can you measure the value that you have accrued for the company, over the years? If giving you a raise will better your performance, and improve upon your already-amazing track-record, no manager will have a problem. But in order to assure your boss that this will happen, show them measurable records of past achievements and walk them through tangible goals for the future.
Don’t Over-Promise In Exchange For A Raise
If your boss expects you to put in double the hours in exchange for a raise, it’s not worth it. By this, we don’t mean that you shouldn’t take up more responsibilities. It just doesn’t make sense to put in 12 hours for an eight hour work day. Remember… work-life balance is really essential! In fact, 65 per cent of professionals in the MENA, are willing to accept a pay cut for extra free time from their job, as stated in the bayt.com Work-life Balance in the MENA poll , September 2012. At the end of the day, you might end up becoming frustrated with your job, and any satisfaction that you may have gotten from the raise will be lost.