Need a raise? Here’s how to get one

KARACHI: Talking about finances is not an easy task for many people. We made a list of things you need to look out for to get the raise you deserve! To make a compelling argument, we spoke to a risk advisor at an insurance consultancy, Fawad Ali Khan.

Dos

1. Know your worth:

Anything you demand should be well-researched. Review your position and benefits and discuss with your boss. As soon as you feel that you deserve more, there is no harm in putting a case forward. “It is important because increment and appraisal is part of your overall growth,” says Khan.

2. Pick the right time:

Timing obviously matters! In some organisations, there is a proper appraisal system in place and you are given the opportunity to discuss it with your boss. If such a system is in place at your workplace, be patient and wait for it. If it’s not, look for an opportune moment and discuss it face-to-face. The ideal time, according to Fawad, is a year into your job. You should be able to see where you stand in terms of remuneration.

3. Highlight your achievements:

This is crucial. You should highlight any value addition you have made to the organisation. Don’t forget to include market practice and norms. Make an argument knowing what the industry is paying and how vital you are to the organisation. You should be able to justify yourself with the quality of work you are doing. Your boss may compare you with other colleagues for benchmarking.

Donts

1. Golden rule:

Do not threaten the manager or the organisation with a resignation. Even if you have another opportunity, do not use it as a threat. A subtle hint always does the job.

2. Avoid mixing personal with professional:

Do not ask an appraisal or increment based on a family problem only; that is not always entertained. Also, not negotiating with the company’s best interests in mind can be a deal breaker.

Here’s how we think you can get a raise. Good luck!