Have you asked for a raise in the last year? That’s why you should

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Now is a good time to look for more money.

Key points

  • New data reveals that most workers who have recently applied for a pay raise have managed to increase their salary.
  • If you approach that conversation strategically, you are more likely to get a pay raise.

It is fair to say that most of us would rather make more money in our workplaces than our own. But nowadays, getting a pay raise is especially important.

First of all, many people have had to clear their savings accounts or collect their debts in order to cope during the pandemic. And if you’re still recovering from that blow, then a magnification can definitely help you move on.

Also, right now, the cost of living is rising because of inflation. It costs more money than ever to buy gas, cover utility bills, and put food on the table. A raise could help, however.

In addition, at the moment, a lot of companies are struggling to get their business started. And so your employer may be more likely to accept a pay raise in an effort to keep you on board.

In the last year, 28% of workers have demanded a salary increase, according to recent data from Employ. Of these workers, 72% saw their earnings rise as a result.

But if you are going to ask for a raise, it is important that you approach that discussion strategically. Here are some ways to prepare.

1. Research salary data

One is to ask for more money just because, but another is to ask for a raise because you can prove that the average person in your area with your job title earns more than you. That’s why it’s so important to research your salary data before talking about money with your employer.

Sites like Salary.com allow you to find out about earnings that you can put in front of your manager to justify more money. And having this information could also help ensure that your request is reasonable.

For example, you may want to increase your current salary from $ 65,000 per year to $ 80,000. But if the average salary for a job in your area is only $ 72,000, it might seem unrealistic. And that’s not what you want.

2. Prepare discussion points

Maybe last year you ran a major project that made your company more profitable. Or maybe you have a solid history of solving problems when other colleagues can’t.

However, before you have that salary discussion, make a list of specific ways to add value to your business. That should give you more of a foothold to stand on when you ask for a pay raise.

3. Practice your pitch

The spoken word can be annoying. After all, there are many on the line. Therefore, it may be a good idea to run through your terrain before you get in front of your boss. You can practice in front of a mirror or use the help of a friend to be your sound card. If you go down this last path, that friend might give you some tips on how to make the most effective argument.

Go for the money

With living costs rising in general and so many people spending more money on essentials, now is the time to get a raise. Just make sure you prepare for that conversation accordingly.

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