I often get asked the question, “How much of a raise should I ask for?” While this number varies depending on skill and industry, the path to your next promotion is generally the same. A lot of times women will accept a salary far below the market value of the position. We usually justify why we make less: we don’t need the money; we like the job; our husband makes more than enough, etc. If you’re an overachiever, always meeting deadlines, and outperforming others on your team – chances are you are eager for a raise and rightfully so. But to answer “how much,” we have to examine a few conditions before approaching the boss’s office.
Here are some things to consider before asking for a raise:
1. How long has it been since your last raise or promotion? If it has been less than 6-9 months, you might be asking too frequently.
2. Understand the market value for your position. Good sites to research the market value of your position include Indeed.com, Payscale.com, and Glassdoor.com. You can use their salary locators to look up your area and job title to find the average pay for your area as well as the national average for that position. Using this research will help you see if you’re being underpaid. You don’t have to use these numbers when asking for a raise, but it’s a good tool to build your case. You can also talk to your employer/HR department and see if they have pay ranges for certain positions.
Another option is to join a community or Facebook group filled with people who are in the same line of work as you. These groups are perfect for asking questions regarding the average salary for your position. If this is the route you’re taking, be sure to ask a variety of people, not just one. Asking these questions is going to help you understand what others are making with your qualifications in your specific industry and will hopefully give you the confidence boost you need to ask for what you deserve.
3. Anytime you approach your boss, make sure the lowest number you’re asking for is the one you’d be satisfied making. More often than not, bosses will go with the lower number or you’ll have to negotiate up. Give them a range to work with.
4. Anytime you go in to ask for a raise, ensure you have a promotion plan ready; it’s always better than walking in empty-handed. Visit maryguirovich.com and learn how to put one together yourself so you can be ready for your next promotion!