Before we go any further discussion, let’s quickly touch on what is a hike exactly. A hike is simply increasing your pay without a change in your job role or your requirements. A raise, which often includes a hike, is a change in job title and job responsibilities. When asking for a hike, you are asking for more money to be paid for the same amount of work you are already doing currently.
At the time of appraisal, many employees think about switching to a new job in the hope of getting a good salary hike. However, not many employees realize that growth is also possible at the current place.
Always be professional. Before you approach your boss, ask for a hike, you have to do a little research. You can walk up to your manager and declare that you deserve a hike on your current salary.
Prove your hard work and your responsibilities. Be prepared for any outcome that will come in front of you. It may be positive or negative. You should be calm. Do not justify your request for vacation, interior your home, or you have to start saving for your kid's education. Instead of talking about all these needs, focus on your contributions to the company which is valuable and the current job market.
1. Employee feedback is the best way to ask for a salary hike.
You should have always an honest and open conversation with your boss. If you have been in your current role for the last eight to nine months, then go and communicate with your manager to let them know that you are doing everything for success. You should always ask for their recommendations on how you can improve more in your current role and what you can do for the next role. Then implement the feedback so you know you are on track when it is time to ask for your feedback. You have to mention your overall and relevant experience and tell your ability to handle more challenging work assignments.
You have to ask if there is anything you can do better. This all will create a base for the management of your company to decide the promotion and salary increment.
2. How to show your accomplishments and added value at work.
You have to show your value in your organization. You want to show that you have taken on more responsibilities, as well as provide your specific details about all your accomplishments. You should have to show examples of the projects that you have completed and how they have positively impacted the business.
Is there any increase in revenue? Did you save a customer? If you have got received positive feedback from your colleagues or your seniors regarding your work, be prepared to share that with your manager as well. These are all not only good indicators of your contributions to your project but also of your future also.
You don’t send your request via email. You have to save the conversation for a time when you can sit with your manager and make your case face to face.
You are doing a great job and working many hours are not enough to get a hike. You need to show how you have to work and beyond to add value to your company.
3. First, you have to do your research
Before you have to go to any salary negotiation, you have to research your market value, what is the market value?
You have to study salary trends for professionals in your organization and industry with similar job titles, responsibilities and qualifications.
Check the timing: when your organization gives a hike after the formal end of year process?
You have to find out or you have to know the market rate for your current role.
You have to research the market rate for your current role on sites such as Glassdoor.com, salary and you should see what others in your field are being paid.
You have to find out what is the average salary for this designation and your experience, your industry, what is the size of your company, and where is the company located? How does your current salary compare to the organization?
Use all this above information to help you create a good hike that you can share with your manager.
You should always give yourself a performance review.
You have to evaluate your performance since your last hike for promotion.
Ask yourself - Have you exceeded your goals this year? How has your role developed? Have you taken any responsibility; have you taken any bigger projects?
If you don’t know anything about the company then talk with your manager to learn more about company policies and salary ranges.
If you don't have any idea about what is meant by internal and external pay comparisons, ask for an explanation to your HR or senior team lead
4. You have to be ready to hear no
You should prepare there is a chance that the answer will be “no”.
If you don’t get the hike or higher position that you requested to your manager, it does not mean that this is the end of your negotiation.
You should request a performance appraisal with clearly defined your goals and your salary adjustment
You have to tell how seriously you take your career.
If your hike is not going to happen right now, then ask for things beyond salary, such as development opportunities or higher position.
If you are really like your existing position and your current job, then do not hesitate to discuss this with your manager.
You have to keep in mind always, payroll is the biggest expense to any company and your current organization may not be able to match this.
You have to tell that, you can settle for a smaller increase if working is there meant everything to you.
The worst situation that can happen is that your manager says no.
5. Stop comparing yourself to others
You should not compare your salary to your colleagues’ is dangerous and it could get you are fired.
Don’t say I know Salary received a 4 percent increasing and I work much harder than her so I should at least get a 5 percent increment. It is not okay to use that information when you are discussing a hike with your manager.
You should not make the conversation with your manager about another employee; always remember this is all about your performance and the most important value that you are creating for the organization.
6. Don’t give a presentation to your manager
When you are giving a presentation, you have to make assumptions about what you think your manager wants to hear from you.
Instead of all this, you have to ask your manager to a lot of questions so you can find out her position, issues, and objectives.
For example, ask your manager where they want to see you in the future.
• How would they like to see your department development?
• What are some of the biggest challenges?
7. Ask yourself why do you deserve a hike?
Before you can convince your manager that you deserve a hike, you need to believe that you have earned it.
Everyone wants to make more money, but do not give personal reasons like your rent increasing, or saving for a child's education, plan an expensive birthday party for my kids, for vacation.
Are you happy with the work you are doing currently in your organization?
Are you the only employee doing your job or are there others around you doing the same thing?
Compare how other employees are performing and how do you perform?
You have learned any new skills or completed your training that makes you more valuable as an employee?
8. Don't show you are too excited
Think once to take the first offer that they will give you.
This is one of the common mistakes in negotiations.
At the same time, you have to make it clear that you know your work is so valuable that you had to be an asset to any company that hires you.
When the first offer comes across to you, it is very important that you don't have to show that you are too excited. You can always go back to that original offer if you don't get what you want from this organization.
Do not accept too quickly can also helpful for future salary negotiations.
9. How to ask for a hike
Most of the people think that they will need to make a detailed presentation about why they deserve a hike, but mostly your request can be brief.
First why you think you have earned a hike, that your responsibilities or the level of your contributions in the organization has increased but you don’t need to walk in with notes. You can simply say,
“I am really appreciating or thankful for the opportunities you have given me for higher responsibilities. I have been getting good results as we want in those areas over the last two years and I have exceeded the goals that we had created. I just want to ask could we talk about my salary to consideration this higher level of my contribution.”
“I’m just hoping that we can talk about my salary hike. It has been a year since my last hike, and I have taken lots of new responsibilities and handling many new projects.
I was even able to clear out that long-running issue with the operation team, which is very helpful for saving us time in the last few months. I think things are going really well, and this is the time we should talk about increasing my salary for consideration of my new work.”
Before you ask for a hike, establishing the following three things:
1. Your Target Salary—what is the specific raise amount you think you should have to earn? You will start with your current market value and then adjust your market value for your specific situation
2. Your accomplishments—what are the valuable responsibilities and new projects you have taken? When your salary was the last raise? First, make sure to identify your achievement itself and then the business value of the creation whenever it possible.
3. Your awards—till now what awards have you gotten from your colleagues, other managers, or your clients? These things can help your manager understand the value of your work even if they have been focused on other things.
10. Make yourself valuable
You have to think and ask the reason why you are not getting a hike.
That is the only way that you can work harder at making yourself more valuable and present more to the company to changing your manager's mind.
Complete your daily tasks and responsibilities in your current role, and then start solving the problems that you are currently working on.
You should take on more responsibilities or be learning new skills. You should always find new ways of improving your skills or develop your knowledge with new things which are helpful for the current role and discuss them with your manager.
All things that will make you are more valuable, and when you ask for a hike again to your manager, your manager will never be able to say no because they are aware that you are giving the good result to the organization and you are valuable for this company.
And everyone knows that it’s much easier to hire skilled employees rather than train a new one's employees.
11. You should work hard to reach your goal
When you and your manager build a goal and a timeline, it is up to you to keep this on your manager’s radar.
Make sure to check all the updates with your manager regularly to discuss your development and confirm that you are still on track.
In the end, bargaining a hike in addition to your annual merit increase can be sticky.
But there are many things you can do to start a conversation with your manager and maybe even get a hike in right away.
It is helpful steps to negotiate a hike in addition to your annual hike increase:
1. You should set your expectations
2. You have to start a conversation with your colleagues, manager, seniors.
3. You should set your goal and establish a timeline
4. You have to work with your manager to reach your goal
5. You should have to figure out timings
12. You should always respond to the employee’s request
Whether you should accept, reject, or accommodate your employee’s request, you should need to have a conversation about your reasoning or argument.
In an organization, there is almost thirty-five percent of employees who were denied a hike received.
When you give employees your hike request determination, you should give them as much information as you can.
Rejecting a hike request: If the employee does not deserve the hike then you have to talk with employees so they can take on more responsibility or improve their work, develop new ideas. Or, you may have to tell a deserving employee that there is no budget in an organization at this time.
Accommodate a hike request: You may decide to give an employee a raise but alter their request.
Accepting a hike request: When you accept the employee’s hike request, tell them why you are accepting there hike request you have to give examples of the great work they did or appreciation for completing projects within deadline and how it benefited your organization. You may also consider giving the employee more responsibility or trust with the hike.
13. Practice makes perfect.
Once you start negotiation with your manager, especially for a salary, you have to be comfortable and calm. For getting a good salary hike, you should know how the appraisal system in the organization works and you have to mention your overall experience.
One of the best ways to prepare yourself is to practice with someone you trust always. Only that is the way you will know exactly what you are going to say.
If you don’t want to practice with anyone or you don’t want to share with anyone then you can also even practice in front of a mirror.
14. You should talk about the future
You have to show that your efforts are invested in the company. You have to start the conversation with positively, and you have to explain how much you like working for your organization and with your senior’s and manager.
You should have to explain clearly what you want to do in the future, and how you plan to work on it.
You have to explain the new responsibilities and new assignments you would like to take on and how it will help the organization to grow and make more money for our company.
I hope all with this information, sure to have gives some expressive ideas about how do ask for a hike from our current employer. If you think there can be something more to it, let us know in the comments section below!
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