How to Get a Raise?

Is there a smile on your face when you open your wallet? On mine not, especially when the end of the month is just around the corner. The unemployment rate in the Czech Republic is hitting its low, salary freezes is continuing to thaw, and this may be your year to finally go for it.

In business’ view, it’s endlessly cheaper to raise a salary to a current employee than to engage on risky journey of finding a new one. PayScale Compensation Best Practices Report 2016 reveals that 73 % of employers consider their employees to be paid enough, while only 36 % of employees feel that they are fairly compensated.

…and then my boss gave it to me!

The best chance for a salary raise have those who are a real asset for a company. Remind your boss the reasons why YOU are not expendable for the business.

  • First, write down your recent successes at work.
  • Best arguments are specific; for example: “At the meeting last week, we agreed to start a new deal and this will bring such and such assets to the company.”
  • Remind your boss all the overtime work and extra tasks you have been doing.
  • Highlight the fact that you are at work on time every day and are rarely sick.

How much should I ask for?

Salary upticks are usually granted only once a year, although it’s dependent on the mood of the economy and the demand for employees in your industry. For instance, highly competitive business fields such as finance, IT, and engineering are particularly raise-friendly. Czech server Prace.cz claims, the reasonable salary raise in the Czech Republic is between 3 and 10 % of your current salary.

In general, there are only three instances when you can get away with a more frequent paycheck bump:

  1. You’re an all-star performer and can make a strong case for why you DO deserve a raise.
  2. You’re in a super-competitive industry like tech where the demand for quality professionals is sky-high.
  3. You work in retail or food industry. Raises tend to happen every 6 months in these fields, but it’s a tiny increase according to Forbes’ data.

Extra tips for a successful bargain

  • Have you been offered another job? Say it. Make your company know that your skills are precious.
  • Avoid blackmailing tactics such as “If you don’t give me more, I’ll go.” This can cause a counterreaction and your boss might decide that it’s better to let you go.
  • Always focus on your career, don’t compare your performance with others’; for example: “John has been doing nothing since March and takes twice as much as I.” Your boss can decide that John needs to work twice as much – to do your job too!
  • Don’t use your personal reasons as a motive for a raise; for example: “Sarah is now expecting our second and we can no longer afford our living standard.” As much as your boss can be empathetic with your family situation it is nothing that relates to your work performance and hence to a possible raise.
  • Be ready for the worst. Don’t ask for a raise, if you are not confident with your work performance and if you know that you will not be able to accept the worst consequences of your bold move – being fired.

Money is not the only option

If you for any reason don’t feel comfortable asking for financial bonuses, ask for other types of benefits. For instance, you can ask for extra education in your field, language courses, or extra holidays.

Do you feel that your company won’t pay you more? Have you tried and been refused? The easiest way how to change your financial situation is to find a new job. See the latest job openings at JobSpin.czSearch it, find it, get it. Multilingual jobs in Prague and Brno.

Sources:
BusinessNews, 2016: Asking for a Raise? Take These 5 Important Steps at: http://www.businessnewsdaily.com/8101-asking-for-a-raise-tips.html.
Forbes.com, 2014: How To Ask For A Raise at:http://www.forbes.com/sites/learnvest/2014/05/07/how-to-ask-for-a-raise-and-get-it/#35e465af78a9.
Prace.cz, 2016: Veselejší pohled do peněženky: řeknětesišéfovi o lepší plat at: http://www.prace.cz/poradna/aktuality/detail/article/veselejsi-pohled-do-penezenky-reknete-si-sefovi-o-lepsi-plat/.

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