For every employee, the amount they earn is never enough. Have you ever heard anybody saying that they earn enough? Though some people have hidden talent to ask for raise without even asking, a few are hesitant. We don’t blame you– asking for more money is an awkward task. But the biggest question you need to ask yourself before having “the talk”- Do I deserve a raise? How do you decide that the company should be investing more money in you?
Here’s a checklist of 5 signs that it’s a good time to ask for a raise. Read the points before going up to your boss and asking for a hike:
You’ve exceeded goals
If you’ve performed exceedingly well and have surpassed the goals set by your seniors, you are all set to get much-deserved raise. Keep a track of all your accomplishments and list them out when you discuss the pay-raise with your boss.
You have a better offer
If you’ve recently been offered a hike by a competitive brand, you have a strong case. You can always site this offer as a reason why you’re worth more than what you’re getting paid. Remember, use it as an example– not a threat to resign!
You’re underpaid according to market standards
Do your research and find out what your peers are earning in different companies. If you fall below the average pay-scale, you need to have the talk with your boss.
The company is doing great financially
If your company had an amazing financial year or huge win and you played an integral role in this, you need to strike the iron while it’s hot and discuss that raise.
A New Skill or Degree
If you recently completed a training course or procured a new degree that further diversifies your skill set, it’s a good reason to take action.