Asking for an Income increase

Random Hero

Random Hero

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Hi,

What is the best way to ask your boss for an increase.

I have been with this company since April last year so I am waiting for a full year to pass before I get to this conversation if the company does not initiate it first.

I have added a lot of value and definitely helped in growth. I have received recognition in the form of rewards. But I really know what my worth is and I do feel that I deserve a lot more than I am currently earning.
I really like the company and feel like this is a very sensitive topic to discuss with management. But I have done a lot and done more than is expected.

What is the best way to initiate this conversation?
 
In my opinion.... Wait for the 1 year to pass. Document your achievements and your the ways in which you see yourself adding value to the company in the future. Do this professionally. Set up a career assesment meeting in the diary of your manager. Do a great presentation
 
Random Hero said:
What is the best way to ask your boss for an increase.
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There isn't.
They'll just say that you are already in the earning range of your title and klaar...
And you're not even there for a year yet? lol
 
Random Hero said:
I really like the company and feel like this is a very sensitive topic to discuss with management.
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Depending on the company, it shouldn't be a sensitive topic. If you feel your salary should increase to reflect the work you do, then make the appointment and have the discussion. But be careful of walking out of there bitter & resentful if they don't agree or even consider it. Because if you get a chip on your shoulder about this you start being a kak employee.
 
Always tricky but given the rewards perhaps ask your manager what the annual salary review period is. Most companies do this Dec-Jan or Feb-March. Not many do it outside these.

Additionally some companies have rules on increases being after 12months.. tho typically it’s just don’t same time as company.

2ndly most companies define how performance reviews are done with goals/kpis
 
Companies have yearly budgets so you can't ask for raise outside the annual salary increase month.

The only way out of it to go to manager and say you have better offer. It doesn't matter what you built for them, if a new employee doing the same job will cost them more they might offer you an increase to not resign. If not they will say tough luck or treat you like a pariah
 
skimread said:
Companies have yearly budgets so you can't ask for raise outside the annual salary increase month.

The only way out of it to go to manager and say you have better offer. It doesn't matter what you built for them, if a new employee doing the same job will cost them more they might offer you an increase to not resign. If not they will say tough luck or treat you like a pariah
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Never keep an employee, by offering a raise, that has considered other job offers. They will end up leaving in a few months in anyway....

So OP, do not claim you have another job offer you're considering unless you are prepared to leave.
 
TBH you won't get more money. You've been there less than a year and while you may feel you know what your worth is, the reality is that you are in a marketplace and you accepted the job knowing the salary, and if you could have gotten more elsewhere I'm sure you would have gone there.

Suck it up, wait for your annual review, and see what kind of increase that brings.
 
cerebus said:
TBH you won't get more money. You've been there less than a year and while you may feel you know what your worth is, the reality is that you are in a marketplace and you accepted the job knowing the salary, and if you could have gotten more elsewhere I'm sure you would have gone there.

Suck it up, wait for your annual review, and see what kind of increase that brings.
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Exactly this. 1 year isn't enough to start pushing for an increase.

I've been with the same company for more than 10 years and we get annual increases, but lately it has been below inflation, which kinda makes one think about going elsewhere. But at least I have more than 10 years experience.
 
cerebus said:
TBH you won't get more money. You've been there less than a year and while you may feel you know what your worth is, the reality is that you are in a marketplace and you accepted the job knowing the salary, and if you could have gotten more elsewhere I'm sure you would have gone there.

Suck it up, wait for your annual review, and see what kind of increase that brings.
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I agree with this sentiment. What is a little strange is that there is no company wide review cycle - @OP, is this the case or do you just not know about it?
 
Venomous said:
Never keep an employee, by offering a raise, that has considered other job offers. They will end up leaving in a few months in anyway....

So OP, do not claim you have another job offer you're considering unless you are prepared to leave.
Click to expand...

Usually it’s more than just money that’s driving a good employee to leave (if they weren’t good, there wouldn’t even be talk about a counter offer). If the additional item can be addressed along with the compensation deficit, it can certainly be worthwhile to retain the employee.

I once nearly left, but was offered a compensation counter as well as a role change. That was over 5 years ago.
 
EVIDENCE EVIDENCE EVIDENCE.

It's pointless coming to your boss and stating how you added value without being able to prove it.

And that value needs to lie outside of just doing your job as per your contract.

But really after barely a year you probably won't get far.
 
Venomous said:
Never keep an employee, by offering a raise, that has considered other job offers. They will end up leaving in a few months in anyway....

So OP, do not claim you have another job offer you're considering unless you are prepared to leave.
Click to expand...

Not necessarily, I had an offer in 2012 at my current and accepted a counter offer, they basically offered me almost double my predecessors income to not leave. I'm still here many years later. Many of my colleagues went the same route, also still here.
 
I got a very nice increase after 7 months, I do believe I proved my competence though :D
 
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