How to Ask for a Salary Increment

Many companies don't give annual salary increments; in that case, asking for salary increments from your manager is the only way to get what you deserve.

 Sometimes, asking your boss for a salary increment may feel intimidating. But trust us, asking for the raise you deserve is entirely acceptable.

You have landed on the right page if you want to know how to ask for a salary hike. In this blog, we will guide you on confidently asking for a salary increment.

Do your Homework Before Asking For an Increment to Your Boss  

Before you talk to your boss about salary raises, you must research and gather the information to support your case. 

When you need help finding a salary range in an industry, you can use some online platforms to see how much people with similar jobs are being paid. If you're underpaid relative to peers, make this a solid reason to support your case. 

Catalog your Wins

When you know that you're underpaid and deserve a salary increment, it's time to list your recent accomplishments. Gather all the quantifiable data showing how you have benefitted the company above and beyond your core duties. 

Special facts, figures, and accomplishments include innovations, efficiency gains, cost savings, revenue generated, new skills acquired, etc., and pack more punch than general statements.

Get Clarity on the Company's Finances

Meanwhile, there is an important thing to consider. Get clarity on the company's finances. Knowing your business is booming or struggling helps you frame your request appropriately. Congratulations if your company is making significant profits; now you have more bargaining power to justify your salary increment. 

How to Ask For a Hike to the Manager: Timing is the Key

Timing is crucial when proposing a pay hike. Try to avoid end-of-the-year budget talks. 

Like most delicate conversations, timing is critical when proposing a pay hike to the powers that be. The money train has likely left the station if decision-makers are already finalizing numbers for the following year.

The best time to ask for a salary increment is after you wrap up a significant project, reach a vital benchmark, or have an annual review. 

Moreover, it would be best to confirm priorities and milestones. All you need to do is scan your boss's calendar to ensure they aren't crammed with critical deadlines that could make them stressed or distracted.

 For salary hike discussions, pick your time smartly and consider when your manager can adequately pay attention to what you bring to the table.

Set the Stage

Confirm the meeting with your boss once you decide on the proper time for the appraisal talk. When you ask for an appointment, give your boss a hint about the purpose of the conversation.

Now, it's time to print out documentation like your accomplishments list or salary research to make your point more valid.

Have a number in mind for a salary bump. Consider the amount of salary hike that seems fair according to your experience level and responsibilities. But, yes, remember to keep some wiggle room for negotiation.

Make Your Pitch 

Now, finally, the time has come for the final Showtime. Before you start the conversation with the boss, show gratitude towards the company for the past opportunities. A little flattery buttering up never hurts, either! 

Present the data and documents that convey why you deserve a salary hike. Be reasonable and ask for a fair salary increment, not a random big number. 

Tell your boss how an increased salary enables you to bring more value to the company.

What If Boss Says No to Salary Hike 

Of course, your boss may say NO to a salary increment, as it represents a significant investment. Don't worry if your manager pushes back. Without any hesitations, ask him the exact reason for the same.

You can even suggest him for a smaller raise now with a built-in review for a more significant bump in 6 months.

If neither of you reach any conclusion, set a subsequent date for a final decision.

What to Do Next?

Regardless of the final answer, express appreciation and thank your manager for considering the request and discussing the concern openly.  

Now, determine which factors influence the final decision the most and make your plans accordingly. 

If you decide to change the company for bigger opportunities, sign up for Xcruit now and get your dream job. Xcruit is the ultimate job search platform with advanced features like CV Parser for effortless profile creation, Video Resume, EQ-Competency Analysis via xVerse, In-App Quiz with a leaderboard for global business insights, and Live Chat for direct communication with employers to make your job hunting experience as smooth as possible.

So, what are you waiting for?? Sign up for Xcruit now and explore thousands of job opportunities globally.