Your performance evaluation is done, you have got good ratings, but you do not know how to ask for a salary raise or how to negotiate the salary raise given to you by your employer.
Negotiation for a salary raise is basically the last step of performance evaluation or appraisal cycle. It starts with you working hard throughout the year and giving a good performance. Because without that you will not be having anything to prove, hence nothing to ask.
And once you have performed well the whole year, it’s time to make a good strategy to get what you want. And for making a good, workable strategy to get your desired pay raise, keep some parameters in check.
(Before Salary Raise Negotiation) Do the groundwork :
Keep everything documented –
Your achievements throughout the year, projects you have completed, clients you have required, or target you have achieved etc. Make sure to keep writing them throughout the year, so that you can have a quick look at them before the discussion.
Have industry data in hand –
Do the industry research, find out what is the average salary of someone with the same experience as yours in the industry. You can find this kind of data on various websites such as pay scale, monster, glass door etc. Talk to people within your network, they can also give you a rough idea.
Find out the latest industry trends, how valuable your skills are in the market and how much other companies are willing to pay to someone with similar skills as yours.
Read these for better understanding: Salary Negotiation
Learn new skills or get new certifications –
Along with the results you have achieved, you have to add some new skills to your portfolio. Focus on learning those skills which are new and high in demand.
(During Negotiation ) – Build up a strong case :
Talk about figures –
Once you are done with the performance evaluation discussion with your manager, it’s time to ask for a salary raise.
Be very clear about what you want along with explanation, as if your manager get a sense of you not being clear about things he might try to manipulate you into accepting something lower than what you deserve.
Justify what you ask for –
All the groundwork you have done, not its time to use that.
- During raise discussion, highlight your achievements and remind your manager of the values you brought to the organization.
- Talk about salary trends across the industry, point out how much others (with the same skills and experience as yours) are getting in terms of compensation.
- Mention about the new skills and certification you have learned, and how beneficial it can be for the organization.
Share your goals and future plans with them –
Although you are demanding raise on the basis of your past work, yet you need to assure your manager that you will keep doing the good work and bring results. And for that, you need to share your plans and goals with them. If possible make a presentation on this.
With this basically, you have to make them realize that how beneficial your association with the organization is. And how by giving you a raise they are reaching a win-win situation.
So this is how you should present your case during salary raise discussion, If you feel you have contributed well in the organization’s growth then you should not shy away from asking a raise. If your organization values you then they will have a logical discussion with you, if they will not agree to your demand then they will justify their reasons.
And if they are not accepting your demands without even proper justification. Then it’s a high time that you should make an exit from such an organization.