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Asking for a raise is an indicator of one’s realization of their value and worth. Look for signs on when you should ask for a raise at work.

There is no greater love than self-love, not even the romantic one. When we make space for self-love in our lives, our entire worldview changes for the better. More importantly, how we view ourselves changes drastically. We value ourselves more and start fighting for what we believe we deserve and are worthy of. This includes a better life for ourselves, demanding more understanding from our partners, striving to achieve the best education, becoming self-reliant, etc. This also includes asking for a raise in salary or remuneration at your workplace. Whether you are in the service industry, research, IT, communications, etc. asking for a raise (when the time is right) is the right thing to do for yourself and your career. 

The following are some indicators to help motivate you to ask for a raise:

1. Performance Review

You have worked hard all year round giving up on personal commitments to make way to fulfill the ones at work. You’ve stayed in the office late, sacrificed sleep to prove how dedicated you are to your work, tackled challenges, shared ideas, and more. Now, it’s time to make it all count, make your efforts count, and increase your value as a person and as a professional. So, make no bones about the fact that you want a raise. Be honest with your reporting manager and/or HR and sincerely list out all the reasons why you deserve to get that raise. Don’t be shy or have any inhibitions. Manier times, it is we who stop our own progress. So, market your achievements, abilities, and what you bring to the table.

2. Your company is making progress

If your company is making strides in business, acquiring another company, striking business deals, and raking in heaps of revenue, it’s the perfect time to ask for a raise. After all, why shouldn’t you reap the benefits of your company as well?

3. If you find you are underpaid

Our generation and the forthcoming ones are very lucky to have the digital revolution transform the way information is shared. Information is now available at one’s fingertips and can be received at the speed of lightning. LinkedIn, for example, is an excellent professional networking website. It helps analyze comparisons in salary/remuneration in your industry with your contemporaries. It is important to do your research in terms of salary in order to ensure you are getting fair pay. If you find that this is not the case, then take up the matter with your manager and/or HR.

However, manier times this is not the case. The reasons are many. You may have restarted your career after a long break which makes you a weak candidate for negotiation. The company simply didn’t budge when you wanted a particular pay package and you took the job because you didn’t have another option, nothing else interested you, etc. In these cases, it may be difficult to negotiate a raise but don’t be afraid to try.

4. If you are doing more than you should

Learning new things at work and cross-functional skill development is a wonderful thing for your career. Therefore if you get the opportunity to try something different, don’t say no. However, pay attention to the workload and act accordingly. Don’t let managers take you for granted simply because you can’t say no to work. Remember, more work is coming your way because your company recognizes your talent and values it. At the same time, it is important that you realize this as well and not be afraid to ask for a raise if you think you are doing work that goes beyond your KRAs (Key Responsibility Areas). Don’t be taken undue advantage of and respect additional work as a compliment and a learning curve. If you are getting varied types of work from your company, it means that they trust your talent and abilities.

5. If you have aced a project or given a good idea

Do not shy away from taking the credit and making your company realize your worth if you have contributed to a project and made it a success. If your suggestion, for example, for the stronger brand building has worked in the brand and/or the company’s favor, then it is time to ask your company to give you due credit and a raise. 

When Not To Ask For A Raise

Well, who doesn’t want more money? Even the richest want to be richer and will stop at nothing from making more money, then why should you? However, there’s a fine line between demanding more money based on merit and being greedy. You don’t want to come across as the latter especially in your professional circle and workplace. Thus it is important to take care of the following before asking for a raise:

  • Don’t ask for a raise if your company has incurred losses. We are no longer strangers to the unpredictability of the economy and market forces. In a business, loss, and gain is a daily phenomenon. In case, your company has been hit badly as a result of a bad decision or fall in stock prices, etc. refrain from asking for a raise. If you do, it will only cause friction as your colleagues and managers will see you as an unreasonable and selfish person. 
  • Don’t expect a raise if you don’t deserve it. Honesty is the best policy especially in the workplace and it is all the more important to be honest with yourself. If you have nothing to prove or show why you deserve the raise then it is best not to ask to save embarrassment and dejection.
  • Do not ask for a raise if you have recently joined the company. We all take time to adjust to a new environment and vice versa. Don’t be in a hurry to ask for a raise after a few months of joining. Ideally, one should wait for a year to analyze and evaluate one’s own performance and make a case for a raise. A year gives you and the company enough time to get a better idea about your performance, and your value to the company. It also gives you time to showcase achievements. So, be patient and ask for a raise when you have spent enough time in the workplace.

Conclusion

Every individual must learn to value themselves before expecting anyone else to. Self-love and a sense of self-worth are extremely important to make progress in life as a person and professional. Asking for a raise is an indicator of one’s realization of their value and worth. If you get it, well and good. If you don’t, be patient. A raise or hike in salary is a touchy issue and there are certain things we must bear in mind before we ask for a raise in pay. You don’t want to come across as greedy and impatient. However, if you sincerely believe that you have proved your worth and helped the company gain something, worked above and beyond the call of duty, and if the company is making good progress, then it’s only fair to expect and ask for a raise. Remember, keep it professional!

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