26 Jul How do I ask my employer for a pay raise?
Are you an employee that believes you deserve more pay? There is a chance you are being underpaid, and you may be completely entitled to receiving more. If you are planning to ask your employer for a raise, there are answers you can find on your own before going to your boss.
How should I prepare?
Start the process by first assessing whether you are eligible to receive more pay in your current role. Determine whether you are accomplishing your tasks proficiently and to the standard your employer wants on a consistent basis. Also, track how many times you were responsible for a task outside your individual responsibilities and were successful at it. This process is measuring how much your work has impacted the company positively, which could help assess your value, and come up with a more suitable salary.
Further, do some internal research. Look into the criterion that resulted in raises for others in your role. You may be able to locate this information in an employee handbook or within certain company policies. This information may demonstrate how your employer chooses how to compensate their employees. If your employer routinely re-evaluates employees and their pay after 2 years of working for the company, consider using that as a guideline when you have this conversation.
You can also engage in external research on how much other companies pay for your role and skills. If your company has established a ceiling salary for your role, this may be important information to have when negotiating a number that demonstrates your value. When you are researching, make sure you are keeping the research local, so it is more relevant.
How should I engage in the conversation?
Do the research that was noted previously before you schedule a meeting and know the amount of salary increase you think is fair. Before scheduling the meeting, it may be wise to receive legal counsel. We suggest reaching out to KCY at LAW so that we can help you assess your Employment Contract and what financial opportunities could be likely.
When you are in the meeting, be clear and precise about why you have scheduled this time. To address the situation directly, arrive at the meeting with all the research you have engaged in, know the amount of raise you will request, and be prepared to present it to your employer.
During the meeting, you need to be ready to hear no. Your employer may not believe you are ready to receive a raise, and this may be fair. In this case, ask your employer how you can improve so that this raise can become an eventual reality.
If your employer provides any new documentation for you to sign in response to your new raise, seek legal counsel. Kathy Chittley-Young will review this document and make sure it is in your best interest to sign.
If you want to determine a reasonable raise or require any contracts to be reviewed before signing, please contact KCY at LAW by filling in an online consultation request or contact us by phone at 905-639-0999 to book your consultation today.