You have been working in the same organisation for over two years, but it seems like the senior management has completely forgotten about giving you a salary hike; even after you were declared the employee of the month thrice last year. The only feasible solution you can think of is to look for another job that pays better.
This situation is that many employees today encounter, but most of them choose to sit on fence fearing the consequences. For them, there's no balanced approach to deal with an issue as critical as a salary hike. But that's not true!
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You can always have a discussion with your manager and sort this issue out. However, before you do that, you need to pay attention to a few very important steps. These will not only increase the chances of you convincing your manager for a hike but also prevent any unexpected outcome that may affect your candidature.
Show them your worth
Don't act like you deserve a salary hike just because you've worked two years in this organisation. Perhaps your manager expects a lot more than just a mere tenure from you. You know how dedicatedly you work on a daily basis and how it adds value to the company. Calmly explain explain all this to your boss, with physical proof like revenue reports, client data, or anything else that can support your claim.
How much do you deserve?
Ask for a standard pay raise that doesn't upset your manager. Before doing so, check out how much other organisations are paying those employees with profiles similar to yours. You can use Glassdoor to check this data or take the help of your contacts in the industry to get exact numbers. Don't ask for a 60 percent hike when you know that another prospective company won't offer you more than a 20 to 25 percent raise.
Timing is key
You do not want to discuss a pay raise right after your company has lost its biggest contract or your manager a few big clients. So, rather than showing up in their cabin without any prior appointment, gather some information and figure out the best time to have this discussion. In any case, you would not like to finish your meeting with them in just two to three minutes.
Don't let your emotions run over your logic
For you, it might be an emotional decision which will allow you to pay off your education loan sooner or buy your favourite smartphone with ease. But for your employer, it's a financial decision which will increase the overall expenses. So, think from your employer's perspective and ask yourself whether you deserve this hike or not. In any case, don't let your emotions rule the roost.
There's no point in delaying something that's not letting you work freely. But at the same time, you shouldn't do something foolish and get fired. Pay attention to these tips and have a formal discussion with your manager regarding pay raise at the right time.
Have you ever faced such a situation in the past? How did you handle it?