3 Things to Remember Before Asking For a Pay Hike

3 Things to Remember Before Asking For a Pay Hike 0 Flares 0 Flares This guest post is contributed by Brenda Harris, who writes on the topic of executive mba programs. She can be reached at her email id: brenda.harris91@gmail.com. Some people do it timidly and with hesitation; others are brasher and more open about demanding it as their right; and yet others threaten to quit if they’re not paid more. While we all feel the jitters when we want to ask for an increase in our salaries, we adopt different methods to go about this act because there are no fixed rules or regulations to follow. But no matter how you ask for a pay hike, you must keep a few things in mind before you talk to your boss or put in a request in some other way because if you don’t, things could backfire on you in a bad way. So if you’re mulling over a salary increase, think over these things before you go ahead with the idea: The current market scenario: If the world in general or your company is going through a lean period and your co-workers are getting fired or laid off by the dozen, then it’s definitely not the time to bring up the issue of a pay hike. You would think that this is pure common sense and that people will know that they’re lucky they get to keep their jobs in such a scenario, but there are times when people get ahead of themselves and convince themselves that they are indispensable to the company and that they should ask for and receive a raise. Your present standing at work: If you’re in the doghouse with your boss, then it’s sure not the time to bring up the issue of your salary hike. You must wait for the dust to settle and work on getting back into your superior’s good books before you can broach the subject. This does not mean that you must toady up to them; rather, let your work do the talking and your salary hike request cannot be denied without adequate consideration. The probability of you getting the raise: If you’ve just received a raise in the recent past, then your current request is probably going to be denied, unless there are extenuating circumstances. Also, your status within the company counts a lot when the issue of a raise comes up. Your boss may feel that you don’t merit a pay hike because you’re just not that valuable to the company. They’re not worried that you may quit if your request is denied, so there is no compulsion for them to cater to your demands. So holding the threat to leave over their heads may not be a good idea unless you are relatively confident that they will cave in or you have an alternative position lined up. Salary negotiation is a tricky minefield that could end up hurting you badly if you’re not careful. So tread carefully, like you would on eggshells, read the situation well, and use the right opportunity and time to ask for your pay hike, preferably when your work is receiving rave reviews from your superiors.