It is not an easy task for an individual to ask for an increase in salary. There are no proper steps involved in asking for a salary increase. However, we provide you useful tips which would assist you in the task for raising your salary and promotion. These tips will increase your chances of getting an increase in your salary.
Tips for asking a salary hike are mentioned below:
- Before asking for increase in the salary, it is necessary to check out whether the company opts for such salary hikes or follow certain time span to provide salary hikes to its employees. You should also check out the procedure of pay rise in your company by referring to the company policy. Research about the market rates, salary scale or the average salary received by an individual at the position you are currently working in.
- Once you are informed about all the information related to position, then ask for a meeting where you can discuss the salary increase. Prepare a report which clearly specifies about your special initiatives undertaken, deadlines met, and products or services improved by you. It should include the information about your contribution towards the company in terms of revenue earned and saving money, satisfaction of the customers and much more in the report.
- In the meeting clearly justify your claim for salary hike. Avoid threatening the boss by saying that you are leaving the job or demanding a salary hike. It is necessary to keep options for negotiations open. In case, if your request for salary raise is rejected then you opt for negotiating for other benefits.
- Besides these, you can also opt for sending letter asking for salary hike. However, it is not an effective medium for asking salary rise as it fosters only one way communication. You can also opt for a combination of these two methods such as sending a letter as the first step and asking for a meeting to discuss it in much better way.