“How Often Should I Get A Raise?”

 

Some companies offer automatic raises once per year, but often times the raises aren’t enough to notice the difference after taxes, 401k, etc. are taken from your check…Am I Right?

Instead of waiting around to your yearly increase, be proactive, and ask for what you want!

Know The Deets:

You don’t need to wait until it’s automatically applied to your salary. However, timing is everything. Do you typically receive a receive at the end of the year? Around your start-date anniversary? Knowing this will tell you when to prepare. One thing, though, do not wait until you have your yearly review. If anything, start preparing and ask three months before the discussion so you can have a definite answer by the time you have the review.

Plan:

There are multiple ways you can approach this, but let’s focus on two. If you are simply looking to make money and is not in the mood of starting a new job search, be willing to put in some work!

Reach out to your manager and ask if you can help with some additional projects/tasks. If the projects are relatively short-term (less than a few weeks), continue asking to help until you feel you are ready for a raise! Once you determine your deadline ( 3, 6, 9 months) and your manager or boss hasn’t brought the subject up, start working on your proposal.

On the opposite end, if you were involuntarily assigned additional projects/tasks due to being short-staffed or the team learning that you’re really good at doing X even though this isn’t what you signed up for, you should ask for more money if it’s become an on-going thing beyond six months!

Take Action:

Have your salary range in mind, and potential proposal together as soon as you are ready to take action in the event your manager may want to meet with you right away. Every manager is different, so plan to ask according to your manager’s personality and characteristics. I am going to provide a general scenario that can work with many industries. Ask to schedule a quick meeting to discuss your duties and salary. When you two finally sit down, say, “I was hoping we could discuss my salary. I’ve taken on a few/many new responsibilities over the last [ time frame], such as [fill in the blank], and I’d like to discuss increasing my salary to a level that reflects that.”

If you have a boss who is oblivious to what you actually do day-to-day, have everything extra listed in your proposal of what you have done that you did not have to do, but have made the whole team’s day-to-day smoother.

Negotiate:

In a beautiful world, you’d automatically receive the pay because you deserve it. However, companies have budgets just like you and me. Be willing to negotiate before saying you’ll quit if they don’t offer you x amount of money. If you receive a firm no, ask, “What would it take for me to earn a raise in the future?” Based on their reply, you know how a roadmap of how to receive your receive.