Everybody wants to earn a little more, especially those who are still earning a considerably low wage in relation to the cost of living. However, due to the current economic crisis, and the general scepticism of management, a raise is something that is typically hard to come by and depending on the financial situation of the business, sometimes impossible. Despite all of this it is important to know your worth and when you are deserving of money for the work that you put in, you should definitely approach your superiors on the subject. In order to conduct this conversation professionally and with dignity there are a few things you need to be sure of.
Advanced Skills that Benefit the Business
If you have developed your skills beyond what you were initially hired to do, and your work has a direct effect on revenue, winning clients, launching new products or getting into new markets and generally earning or saving your boss a lot of money then you deserve to be recompensed for these gains.
Taking on Greater Responsibility
You certainly are within your right to negotiate a raise if you are taking on a significantly greater amount of responsibility than you had when your current pay was agreed upon. For example if someone has left your department and you have taken on their work, your employer is saving a huge amount of money and some of that should come back to you.
Other Employers Pay Staff in Your Position More
One of the simplest ways on knowing if you are ready for a raise is if other businesses within your industry are offering a higher salary to those who do the exact same job as you. If your skillset is in high demand in the marketplace then you should raise awareness of this amongst your employers.
You are an Integral Part of the Daily Operations
Asking for more money is valid claim if your work is essential in the fundamental processes of your company. If your success or failure has a direct impact on your employer in ways that it previously was not then you should look into renegotiating your salary.
Your Pay is Far below Average of Others in Your Role
Whether it’s others in the same role as you within your business or other companies, if your pay is currently largely less than your earnings it is time to have a conversation with your boss. This can happen if you have been in the same role for an extended period of time but your duties and responsibilities have stayed the same. Employers tend not to match their salary levels to external standards as much as they should.