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Money is one of the main motivators in professionals and everyone likes/needs/desires salary hikes. Unfortunately, one of the most tricky conversations to have in your professional career is to ask for a salary hike. Like it is with every delicate subject, the best thing would be just to go ahead with and demand it, but back it up with proper justifications and don’t come across as greedy. Position yourself in a way that the extra money you will pocket is justified because of your performance in the past year(s).Based on many reads and articles, I have listed down a simple yet effective 5 point strategy to ensure that you get the pay raise you deserve.

1. Identify the average market offering for your role:

Before requesting or demanding a salary increase (I personally would go for the first one), the first thing is to ask yourself, ‘am I receiving what I deserve?’

Research and find out the approximate salary information for your current role. You may already have a brief idea of how much your colleagues are earning, but do not offer a comparison with other colleagues when presenting your case for a raise. Try reaching out to others within your industry and know how much they are paid – social media and networking events are good places to source this information. Google for salary trends in your region to get a ball park figure specific to your role (ex: http://www.gulftalent.com/home/Project-Manager-Salaries-in-UAE-169765.html).

Now compare and decide. You may choose not to discuss with your employer about how other companies are paying more as that creates a repel effect.

2Proof of performance – are you seen as an asset or a liability?

Once you have a basic/detailed understanding of your market value, figure out key points/elements that will back your claim for a hike. Market value alone may not fetch you a raise as your performance plays the most important role. So, check your performance for over a considerable time frame. Quarterly/mid-year/annual reviews and their outcomes are a good source to analyse your performance.

If your work has been praised for over a period of time, if your reviews have been positive, your performance productive enough for your managers to talk about the value you add to the organisation, why not tell them this is one of the key reasons for a raise?

3. Discuss your personal and professional expenses:

Growing inflation and increasing costs have a direct impact on your spending. Calculate how much you are spending each month for both personal and professional purposes. While personal expenses show how much money you need and will be left with – if any – post spending, professional expenses will act as proofs for growing prices. Have the rentals increased? Transport/fuel charges? Groceries and utilities? Children/parents to take care of? You wish to enroll for new classes/courses? Factor all of these.

You may think your boss will not care about your expenses and hence hesitant to speak of it. However, by discussing these figures, you are increasing your chances. You’d be surprised for your manager would reflect back to his/her expenses and nod inside their head, in acceptance or denial. He/she can briefly know whether your current salary is justified or not just like how theirs may or may not justify.

4. List down the less noticed contribution:

Things will get overlooked, it’s a sad reality of the fast paced life we live. List down all achievements and positive contributions you brought to the company, and go over ones that were ignored or less noticed. Perhaps you established a partnership or relationship with a person or an entity, or repaired burnt bridges or went the extra mile to add value to your organisation.

Sometimes, certain subtle nuances add value yet go unnoticed. Do not brag about them, no one likes that but just politely remind your manager that you are bringing about a positive change.

5. Plan a good value proposition:

Show passion, optimism and most importantly, willingness to take on more load. Discuss all the extra roles and responsibilities you’ve taken on recently – solicited or unsolicited – and how your company benefited from it. Offer to take more load in lieu to the raise. After all, you will invariably end up with more work as you grow professionally so why not offer upfront? Everybody is calculating ROI, even you, so it’s only fair if you offer a good return to your employer.

Instead of bluntly saying you could do so much more, specifically highlight the additional responsibilities you can absorb and the areas/aspects you can add further value to. Assure that your services to the company are constantly increasing. Demonstrate passion and optimism and let your capabilities speak loud for you.

So what are you waiting for? Go ask for that raise you’ve been wanting to for a long time. You will get it if you deserve it.

PS: Employers please excuse me if you witness a surge in salary hike demands.

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