Landing a job is a huge accomplishment. Getting a raise in the first 6-12 months of that job is even bigger. It can be done, but it require savvy strategies. Here are 9 tips to score a pay raise in the first year of your new job.
Do More Than You’re Asked
Doing the bare minimum is not a way to score a pay raise. You need to take initiative and demonstrate that you go the extra mile no matter how small the task. Don’t wait to be asked to do something.
Extending yourself is a surefire way to get noticed and build a favorable reputation for yourself early on.
Be Resourceful
Finding innovative ways to transform work so that it can be more efficient or streamlined is a great way to score a pay raise. Being resourceful and solutions-oriented are some of the strongest qualities to possess for any job, and are key ingredients to market yourself.
When you have spare time outside of your routine job responsibilities, do work that can help your manager and/or team and perhaps can increase your team’s efficiency.
Do Your Research
Do your due diligence ahead of time. Research what the industry benchmark pay (plus the higher end of that range) is for your position and what others can earn in lateral positions to you with relatively the same experience and skill set. Use that as your baseline for underscoring your request.
In addition, look at the skill set demanded by your current job and see if you fit the mold for the position above you. If there is increased demand and compensation for particular skills or certifications, this could also work in your favor when trying to score a pay raise.
Take Initiative
No manager likes someone who sits back and waits for direction. Taking initiative will show your manager that you care about your job and are interested in going above and beyond what is expected of you. This could include taking on extra tasks or volunteering to take on projects outside of your normal work scope.
The more you do, the more valuable you become—and the more likely you are to score a pay raise.
Seek Opportunities Within Your Company
Actively seek out opportunities within your company where you can demonstrate your value and build connections. Most companies offer team building activities or group outings, even in this predominate hybrid work culture.
Your participation shows your superiors that you are an engaged team player focused on contributing to the company culture, which could give them reason to consider granting you your requested raise.
Set Goals
It’s essential that you set goals for yourself from Day One and communicate them clearly to your manager. These goals should include both short-term and long-term objectives, and they should be realistic yet challenging enough that they will push you to work hard.
Having well-thought-out goals will show that you are driven and forward-focused. This is especially important if there is no clear career path for employees in terms of promotions or salary increases—you want to make sure that management sees that you’re putting in effort towards keeping yourself engaged and are serious about your growth.
Be Prepared to Negotiate
When asking for a raise, know what kind of salary or compensation increase you would like to receive and be prepared to negotiate with your manager.
Be confident but not cocky when negotiating; managers appreciate employees who are passionate about their work and willing to fight for what they want. But arrogance is not the way to go.
You manager shouldn’t get the perception that you’re trying to take advantage of the situation. Respectfully communicate why you deserve a raise with the right information to back up your request. Though it is essential to stand firm on granularities, also understand that there may need to be compromises made on both sides.
Be Poised
Asking your employer for a raise can seem intimidating, but if you are poised and prepared with all your due diligence about why you qualify for a raise, it’s much easier.
Remember, even if you are denied the raise, this will show your manager that you are unafraid of courageous conversations, which might make your manager more inclined to give you more responsibility long-term.
Provide Your Request In Writing
Though this step might be forgotten or overlooked, remember to provide your request in writing. This documentation of your request will help ensure that you’re both on the same page and will reduce confusion about precisely what you’re asking for.
You can either write out your request in an email or prepare a brief written statement outlining your request; be sure that it clearly states what you’re requesting (a higher salary, more benefits, etc.) and why you believe this increase is merited.
EDITORIAL DISCLOSURE: This website is for general information purposes only. The views and opinions expressed in this blog article are solely the views of the author. The content on this website is not intended to be relied upon as advice and/or a recommendation. You should not rely upon the information on this website as a basis for making any financial, lifestyle, career, or other decision. Any action taken from the information on this website is strictly at your own risk. While efforts are made to keep this information up to date, NoWayKnowHow.com makes no guarantee, expressed or implied of the completeness, accuracy, availability, or reliability of the information, products, and services mentioned on this website. NoWayKnowHow.com will not be responsible for inaccurate or incomplete information contained on this website. NoWayKnowHow.com is not liable should this website be unavailable due to technical issues or deactivated for any reason whatsoever.