Here's How To Ask Your Boss For A Raise
As women, a lot of times we are guilty of not asking for a raise when we know we truly deserve one. We are also guilty for not negotiating our compensation offers when we get a new job.
Statistics show that women earn on average ~25% less than men (much more if you are a minority) and are leaving behind hundreds of thousands of dollars of life time earnings due to not negotiating their salaries or asking for raises! Now that’s crazy.
Here are 4 quick tips to help you become a better negotiator and help you get what you are truly worth:
1. Don't be afraid to ask
Fear is the number one reason why we don’t ask for raises or negotiate our offers, but what are we really afraid of? The worst thing that could possibly happen is that the request is rejected and that’s it. So instead of being afraid or intimidated, come up with a plan on HOW to make your request.
Practice your spiel in front of the mirror, type it up and read it out loud and then ask yourself, “what’s the worst thing that could possibly happen?”. Understanding that your request for a raise is not a life or death matter will help you put things in perspective and put your fear back in it’s place.
2. Treat your request like a business transaction
As women, we tend to tie our emotions to the things that go on in our lives including our careers and asking for raises. When our emotions are involved, we sometimes tend to show vulnerability or we might even look like we are complaining because we’ve associated our feelings to the situation and so a request for a raise might not come across in the way that you want it to.
So how do you get around this? It’s all about your delivery. When you make your request do not make any excuses or complaints. Instead think of it as business transaction – present your case and why you deserve a raise, talk about your accomplishments, not your complaints and keep it strictly business.
3. Leverage what makes you unique and valuable
Know your professional worth and capitalize on it! When you make your request, talk about your accomplishments so far, what you’ve created or improved upon and the success that your work has driven.
4. Do your research
When asking for a raise it’s important that you make sure you are being realistic. Do your research and understand what the industry averages for your role are in your location (and the associated cost of living). Don't expect to be given a raise comparable to a city where the cost of living is 30% higher than where you currently live.
Asking for a raise or negotiating a better compensation offer might seem difficult or intimidating but it really isn't that hard - remember you are simply asking for what you are worth and the worst thing that can happen is that they say no.
Bola Onada Sokunbi is the founder of Clever Girl Finance & Clever Girls know who loves all things fashion, beauty and living a full live!
What she's most passionate about: Empowering women to ditch debt, save money and build real wealth.
Her Clever Girl Super Power: Putting her money to work for her.
Keep up with her at CleverGirlFinance.com