Need a raise? Remember these 8 useful tips

Everyone could do with a raise in the salary. Priyanka Chaturvedi lists out are some of the things one must keep in mind while asking for one

So it's appraisal time and like everyone else you desperately need a raise too! The hitch is you don't know how to ask for it!

As a recruitment consultant, I am often asked this question and I always feel it is best to discuss one-on-one rather than on email.

Sure you can use the email but use it only to fix a time for the meeting.

But what are the things you need to know and do before you send out that email and more importantly after it.

These according to me would be the ten things:

1. Know your market worth

Research the market pay rates for your job.

You could do that by networking with peers in your industry. There are various networking forums online and also the industry grapevine helps one to connect with people in the same line of work.

Even networking within the company will keep you posted and give you a good idea of industry pay norms.

Keeping in touch with recruitment consultants also gives one a fair indicator of your market worth.

If you are already in a pay bracket close to the industry norm it would be difficult to negotiate for a raise.

In such a case job raise is only likely if the market value for the job increases.

For instance a few years ago if you were in digital marketing space your salary would have reached a plateau but today with the advent of social media and the potential of growth in the industry you would be paid much more.

Illustration: Uttam Ghosh

Priyanka Chaturvedi is Director at MPower Consultants, a recruitment firm specializing in Media recruitments. She can be contacted via mail at consultants.mpower@gmail.com

This is the singularly most important factor to bear in mind when you ask for a raise.

There are some of us who are hesitant in asking for a raise because we aren't sure whether we deserve it. However if you think you deserve more than you have received make sure to highlight it.

Back your demand with documents and highlight your accomplishments.

For instance if you have helped the company cut costs, make sure you bring it up. If you've exceeded targets or handled additional responsibilities you must ensure that this is brought to the notice of your supervisors.

Illustration: Dominic Xavier

I admit it can be hard to get a raise but it is equally important not to fall into the trap of not asking for it at all.

Have confidence in yourself.

See this as an opportunity to show that you care enough to develop a career path that works for both you and your employer.

While asking for a raise remember that you don't want to end up making your boss feel that you are unhappy with the job and if the raise is denied you will look out instantaneously.

You need to make them feel that while you are satisfied and look to grow in the company, you would be happier if the demand for a raise could be met.

If denied, do find out what you could do to make them consider an increment.

Illustration: Uttam Ghosh

So you want to buy a house or that new car you've been lusting after but that is NEVER a reason why your company will give you a raise.

The reason for asking a raise should be professional and not personal. Your personal aspirations and what you'd do with that money should not even be on your mind when you're thinking of a raise.

Always remember that a discussion about a salary raise will be successful only if you highlight your merit and accomplishments and never on why you need additional money.

While your employer may care about you, providing additional money for your personal financial shortcomings and your lifestyle is not your employer's responsibility.

So don't bring the topic of that car or the new iPhone to the table at all. Better still don't even think about it.

Illustration: Uttam Ghosh

When you enter a discussion, enter well planned and prepared.

Know the market trends, pay scales for your role, and why you deserve this raise for you to be in a better position while negotiating.

Entering a salary negotiation without preparation will only end up making you fluster and flounder at questions thrown your way.

Illustration: Uttam Ghosh

When discussing a pay raise keeping your job responsibilities, your number of years of work experience and the current market scenario in mind ask for a specific amount of increment and realistic amount of increase.

If you know that the trend is 8 to 10 per cent increment, ask for a figure close to this.

If the industry you are working in is hit by recession or is not making enough profits asking for double digit salary hike would not only make you come across as unrealistic but could also jeopardise the job you have in hand.

Illustration: Uttam Ghosh

Do not threaten to quit if demands are not met in the argument since it only ends up reflecting poorly on you and reeks of unprofessionalism.

Even if you are denied the raise do make it a point to ask for the reasons.

Find out if a raise isn't possible could they offer you a designation change.

Ask them what you can do to make them consider a pay raise and fix a time frame.

If all fails, start looking.

Illustration: Uttam Ghosh

Please remember this is not the time to gripe about the management, its policies, your co-workers, your work conditions etc.

As tempted as you may be, avoid comparisons with other co-workers with regards to salary, work responsibilities or anything else that will threaten to steer the discussion away from the topic.

Keep the meeting focused on your work, talk about your achievements, your willingness to take on more responsibilities if your demands are met.

Finally, remain flexible in the negotiations.

Illustration: Uttam Ghosh