In this article you will know 7 steps to learn how to ask for a raise and the 5 things you can’t say while doing it.
The people who go far are the ones who look for the results, and not the ones who wait for them.
So if you are an employee and you do not have enough reasons to be an entrepreneur, but you need more money; to learn how to ask for a raise it’s essential.
before knowing how to ask for a raise correctlyLet’s see the following:
Salaries in Latin America in 2018.
Wikipedia source.
//If you want to know much more information about wages in Latin America, the ILO, the international labor organization, recently published this report//
Let’s assume you earn minimum wage in the country that pays it best. We are talking about $438. I assure you that for everyone you want to do, $438 is not enough.
What’s more, let’s double the figure and add a little more to it, until we reach $1,000.
With $1,000 a month, are you going to have the life you want to live?
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Think about it very well…
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It is clear that with that figure you can live in peace, assuming that you do not have debts; but is that the ceiling you expect for your productive life?
Probably not, that’s why it’s important to know how to ask for a raise so that they give it to you.
How to ask for a raise so that they do give it to you.
1. Do your research.
Find out how much your company and others are paying for a role like yours. With this information, you must find a balance that allows you to argue to your boss that what you want to earn is fair; since for your work, it is what you are worth.
And to do so, you need to follow the next step:
2. Identify your value.
You should tell your employer what you bring to the company. To do this, think about the following:
- Achievements you have achieved.
- Strategies you have adopted.
- Growth ideas that you have to execute.
- new skills.
- Experience gained in the last time.
- Financial impact of your work.
Write as many reasons why you deserve the promotion. Then, align them very well with the mission, vision, and philosophy of the company.
3. Decide how far you are going to negotiate.
Remember that you are trading and one of the most important trading strategies is to anticipate different scenarios.
Are you willing to quit your job if you don’t get the raise? Are you going for a 30% increase but would you settle for 10%?
Another scenario is that they don’t give you the raise right there, but you receive the necessary feedback to know what you have to do to get it.
Do your best to have a counter offer for all responses you receive.
4. Find the ideal moment to make the proposal.
It doesn’t matter how well you do the above steps. If you do not choose the moment well, the chances of receiving a “no” are very high.
So keep the following in mind:
- Do it after achieving an important goal.Our memory fades in the face of the most recent events. So it’s a good strategy to ask for a raise, after you’ve reached a milestone.
- Find out when they make salary adjustments.Many companies make their annual budget at the end of the year. So do your best to have that talk with your boss before the end of the year. This is so that he does not answer: “We already made the entire budget, let’s talk about this in a few months.”
- Don’t ask for it at busy times.The conversation of Salary increase It is not comfortable for either party. So your duty is to do it at the best possible time. So it is important that you avoid having it in times of high stress. If your boss only has problems and problems, avoid becoming another one. Otherwise, a “no” will be all you’ll get.
- Meet with your boss in the early hours of the day.If you talk to your boss at the end of the day, he/she will already be a victim of decision fatigue, and will choose to make the simplest decision: which is to say no to you.
5. Do it personally.
Many people make the mistake of avoiding face-to-face conversation and end up sending an email.
This is a fatal error because:
- You are showing that you are not capable of facing difficult situations.
- You will not have the facility to negotiate.
- Your boss will be able to tell that he didn’t see the email.
- You give him/her control of the response rates.
Give face. It is not easy, but if you prepare in the right way, you will see good results.
6. Dress appropriately.
For this it is not necessary that you overact, but you must show that you are interested. One way to do it is to go well dressed.
Click here for some suggestions.
7. Don’t try to inspire pity.
The point of points 1, 2, 3, is to make sure you map out what the negotiation would look like. If you do them right, you’ll find that all the talk will be an objective argument for why you deserve the job. (A numerical proof is much better)
If you are not well prepared, you will end up saying things like:
- “My partner lost his job.”
- “I have a lot of debts.”
- “I’ve been here at the company for a year now.”
And the only thing you will achieve with those “arguments” is to inspire pity. Remember that your objective is to convince your boss that you are worth what you ask for. Not that I give you a diaper bag for the baby that is about to arrive.
Next we will see other phrases that YOU CANNOT SAY if you want to learn how to get a raise, but first, we need a favor.
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Let’s continue…
Never say this if you want to get a raise.
I know that I am being very repetitive with this, but you must remember that it is a negotiation. So the wrong phrase, at the wrong time, can send everything flying.
As you pitch, avoid these phrases at all costs:
1. “I am doing the work of 2 people”.
If the economy is tough and there’s no budget to hire, chances are you’ll need to do more work; but look closely if you are the only one.
If you’re not, your argument loses a lot of weight. Additionally, if you are doing the work of more than one person, it is a much better strategy to show your boss that you are worth more with weighty arguments; and no complaining because “life is unfair”.
2. “I’m doing everything the way I should.”
If you want to learn how to ask for a raise, you must understand that if you want more, you must do more.
If your argument is that you are doing things well, it is almost the same as saying that you are doing the minimum. And that’s not what your boss wants to hear.
3. “I have personal problems.”
As stated in point #7, your boss needs to hear weighty arguments. Also, if you say too much and tell him all the problems that overwhelm you; it is possible that he sees you as a weak link and prefers to do without you.
4. “Pepito earn more than me.”
If your argument is that Pepitowith your same responsibilities, earns more than you, it only implies that Pepito He is better at negotiating than you.
The objective of point #1 is not to go cry to your boss with proper names. It is to find what is the ideal figure for which you are going to negotiate.
5. “If I don’t get the raise, I’m leaving.”
At point #3, you should know how far you are willing to trade. So it is very important that you do not try to make a bluffif you can’t take the risk.
Conclusion.
Learning how to ask for a raise requires negotiation skills and above all, a lot of preparation.
Once you find the key points of your arguments, prepare the interview very well. Ask a friend to play the role of your boss so you can do various simulations.
It is also important to note that there are only 2 ways to get a lot of money, and it is easier to reach them through entrepreneurship.
So if one day you decide to create your own business, you can read our book “How to create a company while working: Discover how to manage your time, manage your money and motivate yourself while creating a company and working for another” , where you will find all the information you need to found your own company, without having to leave your job.
