How to Get the Raise You Deserve

According to SHRM, one third of Americans are not satisfied with the amount of money they earn. Being underpaid weighs heavily on performance. With stagnant wages, inflation, and the rising cost of living in Hawaiʻi, being underpaid doesn’t just affect your ability to live a stress-free life at home, it can also cloud your judgement and hamper your productivity at work. If you think it’s time for an increase in pay, here are a few steps you can take to get the raise you deserve.

Document your success

Write out the ways you have improved throughout the year. Focus on the positive changes and impact you made in your department and for the company. Document projects you have undertaken and how you’ve expanded in your role.

It’s best not to use circumstances beyond the company’s control to justify your request for a raise. Everyone feels the increasing costs of rent, daycare, and food. However, these may be valid personal reasons for a raise, they aren’t a professional justification.

Know your company procedures

Corporate environments are often highly structured in how they allocate raises. Some allocate a percentage of salary increases per year for each department, while others tie increases to annual reviews. Smaller companies might not have a formalized process.

If you’re unsure of how your company determines raises, talk to an HR representative, or speak with a supervisor. The better you understand how decisions are made to allocate increases in pay, the more likely your request to get a raise will be successful.

Convince your boss first

Your boss often has less power to give you a raise than you might imagine. However, earning your direct supervisor’s support is essential. In many cases, they must advocate for you with upper management.

Carefully time your request

Make sure things are going well for the company before you ask for a raise. It’s a terrible time to ask for a raise after your company has lost a big client or there has been a great deal of turnover.

If pay increases are tied to annual reviews, speak up well before the review cycle begins. Bringing it up during the review may be too late to take action or demonstrate your readiness for higher pay.

Know your worth

Have a well-sourced number for what your compensation should be by taking a look at the Department of Labor’s pay scale information. It’s often difficult to find accurate information for certain industries and positions in Hawaiʻi. Press your professional network outside the office to inquire about market rates for someone in a similar position.

Once you have a number, determine whether or not to share it with management. Requesting too much money might make you seem out of touch, while requesting too little could prevent you from taking home a bigger paycheck.

Negotiating compensation can be an emotionally taxing experience. But by turning inaction and worry into positive forward movement with research and planning, the raise you deserve becomes that much more attainable. And remember, keeping your options open can give you the confidence you need to know that your skills are valued in the marketplace.

Read more:

• Salary Negotiation – What NOT To Do
• How I Was Able to Find an Additional $10K Without Increasing My Salary