PREPARE WELL FOR THE INTERVIEW
First and foremost, it is important to be well-prepared. Before deciding to request a salary increase, prepare at least three logical arguments.
First, research the minimum, average, and highest salary for your position in your region and sector. A good reason for a salary increase is if you have increased the company’s revenue or reduced costs through your work over the past year. If your position does not allow you to influence these factors, a strong argument could be a successfully completed project, proposing an innovative solution, or gaining higher qualifications.
If you have data on improved productivity, cost-effectiveness, or increased profits, use them to support your request. Propose a reasonable amount that reflects your skills, experience, and contributions to the company.
BEWARE OF INCORRECT ARGUMENTS
When requesting a salary increase, it is important to present relevant and well-thought-out arguments. However, some reasons can appear unprofessional and weaken your request.
Increased energy costs, interest in buying property, or other personal reasons may be your motive but are not appropriate reasons for a salary increase. Your request should focus on your contribution to the company.
Comparing your salary with your colleagues’ salaries can lead to undesirable consequences. Besides potentially disrupting working relationships, your value to the company should not be determined based on salary comparisons. Instead, highlight your own achievements and contributions.
Threatening to leave the job is not an ideal way to gain your manager’s favor. Focus on the positive aspects of your contribution to the company and the value you bring.
TIMING IS ALSO KEY
The ideal time to request a salary increase is at the end of the calendar year. This is when results are clear, and you can base your request on them. Be cautious, however, if the company is in a difficult economic situation. It is better to wait for a time when the company is doing well.
Choose a suitable moment for a conversation with your supervisor, ideally during a performance review. If this is not possible, select another appropriate time when your supervisor is approachable and not overwhelmed with other duties and tasks.
During the conversation, maintain a professional and polite tone. Express yourself clearly and confidently, but also remember to listen and respond to your supervisor’s opinions. If you agree on a salary increase, request written confirmation of the change in your employment contract or in the form of an official email.
WHAT IS THE RIGHT AMOUNT?
It is usually stated that an adequate annual salary increase should be at least 3 to 5% above inflation. If inflation reaches, for example, 2%, then the annual salary increase should be at least 5 to 7%.
This range can be considered reasonable, as it would cover inflation and also provide employees with some real wage growth. If you work in an industry with high demand for labor and a shortage of experienced professionals, the annual salary increase could reach 7 to 10%.
However, it is important to consider other factors, such as individual employee performance, the level of employment in the region, the average wage increase in the industry, and the company’s compensation policy.
CONCLUSION
Requesting a salary increase is a common part of working life. It is important to present your arguments and contributions to the company professionally and confidently. With proper preparation and communication, you can increase your chances of success. Be determined and confident, and don’t be afraid to request the desired salary increase.
