End of year reviews are around the corner so you know what that means: you may be in line for getting a pay raise!
With 2016 being a solid year for the US economy, now is a promising time to go about asking for a salary increase. While some companies budget for an increase in salaries for their employees in the new year, many others choose to do so only when certain requirements, such as those based on merit and promotion, are met. Regardless of your current employer’s policies, you might be anticipating this conversation about your salary in 2017; a meeting that can stress even the most experienced professional out!
That being said, how should you go about asking your supervisor for a pay raise? Consider the following best practices:
Back yourself up with facts
Before asking for a raise during a performance review, do your own personal performance evaluation from the past year. Are there major projects you worked on? Did you present at a conference? Have you taken on more responsibilities altogether? If the answer to any of these questions is ‘yes,’ make sure you’re prepared to discuss them.
When you sit down with your supervisor about the potential for a raise, be sure to bring up any new responsibility and accomplishment you had this past year. While you may have already been in line for a raise, further demonstrating just how much you offered the company over the past year can put you in an even better spot than you were already in.
Do your research
Along with the time you spend going over your work history from the past year, don’t forget to put in time researching what salaries are like in your role across the industry. Not only should you look into what other people in similar roles in your geographic area are making through online job sites, but you should also put out feelers to members of your network and ask for their input.
Be positive, no matter the outcome
Before going into your annual review, accept that you may leave without meeting your original goal. This could be due to a variety of reasons, ranging from your employer’s established plans to give you a raise that is less than you expected, or their unwillingness to give you one based on your performance over the past year.
While this can be frustrating, the last thing you want to do is lose your cool and say something that puts you in a negative light. It’s also important that you refrain from feeling dejected or bitter if your request is turned down. If you do find yourself in this situation, ask your supervisor what you can do over the course of the next several months and/or year to get a pay raise. Instead of viewing this as a complete