When was the last time you asked for a raise? For me, it always feels like an awkward conversation to ask for more money. I don’t want to come off as greedy or not happy in my current job. I just want to make more! Often you need to ask yourself, when will you be happy with your salary? If you are always looking for more money every year, you most likely should go into sales or become a doctor.
Being a sales leader, I often hear employees complaining about money or passively asking for a raise without any thought. Sometimes it is done publicly and sometimes it is in 1:1s that are unplanned and unorganized. In this blog post, I will break down some best practices on asking for a raise.
Now, I hate to break it to you but if you are looking how to quickly get a raise this blog post is most likely not directed to you. Unless you have already been doing the below things for over a year. Then you are ready to ask!
6 Months to 1 Year in Advanced:
1. Take on more responsibility
Being in sales now for over 10 years, people never want to take on more responsibility before they got the raise. This is the biggest downfall most go through is thinking you deserve more money before taking on any new tasks. Often this is the opposite, I never have received a raise by doing my standard job.
I am not advising you to take on new responsibility if you are not excelling at your current responsibilities. There is a process, take time to get really good at your job and when you are a little faster, a little better, start adding additional tasks to your job because you have time to do them. If you had more responsibilities and you are currently not ramped in your job, it will have the opposite affect.
2. Discuss Goals/Objectives in every 1:1
Every time you have a meeting with your manager, have your short terms objectives and goals ready to discuss and how you are doing against them.
Most employees don’t take this initiative, they wait until their manager follows up on the things you mentioned in your career development session or your quarterly business review.
3. Ask for Feedback
This ties into the tip above, during your 1:1s its important to ask how you are doing against your goals. If you only wait until your career development sessions or your end of year review you might be in for a shock when you hear feedback. It’s hard to ask feedback; the ones that can ask for it are further ahead in their career.
4. Demonstrate your Accomplishments, wins and value you have in the business
Now I recently posted on Instagram that no one is going to announce your wins and hand you a seat at the table.
You need to continue to be your biggest champion. The most important thing that you can do is consistently exceed expectations. It is an accomplishment to do your standard job but it is more of an accomplishment to do your job effectively as well as go above and beyond
5. The Meeting
Set up a specific meeting about 1-3 months prior to when typical pay raises are issued. You want to come prepared and have all your accomplishments noted down for your discussion. Practice!Practice!Practice! I know it sounds silly, but most of the time people are not comfortable having this conversation. The best way to get better is to practice with a friend, spouse, in front of the mirror. Ensure you are confident, you know exactly what you are going to say and prep objections that you may hear from your manager.
After doing the prep work, your conversation with your manager will feel a lot easier!
Good Luck out there! If you don’t succeed, ask for feedback and figure out how to fill the gaps.