3 Useful Tips on When to Ask for Your First Raise

Being A Young Employee Means That You Are A Valuable Force For Any Company To Have Due To Your Energy And Thirst For Innovation

Being a young employee means that you are a valuable force for any company to have due to your energy and thirst for innovation, but it also entails having to strive harder than those with a senior position. Nevertheless, when you love your job and are motivated to do it right, this will be more of a challenge than an inconvenience.

If you’re young and haven’t had a job for that long, navigating the sometimes turbulent waters of employment seems extremely confusing and complicated. However, a healthy dose of ambition and a bit of believing in your value as a worker can get you far. With the right attitude not only can you get a substantial pay raise, but you might also stand a chance for an actual promotion to a more fruitful position in the firm.

How to Get Your First Raise

If you’ve been working at your current job for around the one-year mark, then you are eligible for a salary raise in most firms. Nevertheless, some employers might not throw such an offer at you just like that. Therefore, you need to kickstart the process of persuasion. There are many ways to ask for a raise, so here are three useful tips on how and when to do it.

1. Timing Is Key, So Choose the Right Moment

You might have heard this one in several other contexts before, but according to Forbes Magazine, one of the most revered publications of the business sector, the cliché according to which timing is everything applies perfectly in this scenario. What you need to do first is find out when the company you are working for generally gives out salary raises. Some companies do it at the end of each year, others after quarterly evaluations and so on.

When you’ve been at the same job for an extended period of time, you sort of know these things instinctually. You might have heard from word of mouth or you might have even read it in the employee handbook. But what you might not realize is that if you ask in the wrong moment, you might not get your raise.

Therefore, it’s important to find out such details if you’re not already privy to them. You can ask your colleagues or even your manager for more information on this process. After all, it’s a normal thing to wonder about after you’ve worked somewhere for a considerable amount of time. Nobody will judge you for being interested in better career opportunities.

2. Know Your Employer and Make a Strong Case

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Before marching in and asking for a bigger salary, do a bit of research regarding the financial situation of the company or establishment you work in. Is it going through a rough patch financially? If the answer is yes, you might want to wait for a while before pressing on with your demands.

Furthermore, certain firms make it easier for their employees to advance in the company. For example, one of the main benefits at Applebee’s is the opportunity to receive a pay raise and even a job promotion once you’ve been a team member for a while. There are special job offers for such cases, and it’s far easier to become Restaurant Manager or even get transferred to the Corporate Office.

On the other hand, there are companies where you must put in a lot of extra hours to get promoted, especially as a new employee. By knowing these things about your place of work, you can make a strong case for yourself. Know what you’re worth, but also what your company is willing to give you, and you’re sure to succeed.

3. Don’t Be Discouraged by Rejection

If for whatever reason, your boss said ‘no’ to your sensible proposal, you shouldn’t let it discourage you from trying again in the future. Katie Donovan, a salary negotiation consultant, states that you need to see a rejection as an opportunity to not only find out what you can do better, but also what potential problems your company is encountering and if there is any possibility of higher pay in the future.

By becoming a better employee, you will be an irreplaceable asset to your workplace and they might even offer you a higher salary instead of you having to ask for it. On top of that, you will gain a lot of experience in your field, which furthers your overall level of education and preparedness. This is useful to your self-growth as an individual as well, not only for performing your tasks.

Unfortunately, this can also mean that you will have to look for a new job if the place you are currently working it is certain they can’t afford to up your pay. While these circumstances are sometimes out of their control, you need to know what a valuable asset you are and how most companies in the field would be lucky to have you.

Conclusion

Asking your boss for a pay raise is never an endeavor without risks. Still, by knowing how much you’re worth and how to pick your battles, you can achieve amazing benefits. All you need to start you off is the necessary courage and ambition to further your position in the company. After you’ve got that handled, it’s time to plan your moves.

A good business strategy to apply in this situation is comprised of multiple factors. First, you need to know when to pose the question. Second, you must make a strong case for yourself, and the only way to achieve this is by knowing both yourself and those you are working for.

Last, but certainly not least, be aware of the possibility of rejection, but don’t let it bring you down if it happens. You will have plenty of other opportunities to shine in the future, especially after you’ve grown as an employee and gained more momentum with your bosses. And remember, never stop fighting to get what you want.