According to Payscale, only 37% of employees have approached their superiors about a salary increment. But here's where it gets interesting: out of those who took the initiative, 70% were successful in their request.
The takeaway from these data is that taking the initiative can markedly shift outcomes; hence, the pivotal move begins with adjusting your perspective.
Get used to the idea that asking for a raise is common professional practice and an essential part of career development. In most organizations, discussing compensation openly and transparently with your supervisor or manager is acceptable and expected.
Overthinking is another blocker to asking for a raise. Thoughts like, “She might assume I'm only in it for the money” or “I might come off as arrogant for requesting more” might cross your mind.
Think of a pay raise as recognizing your augmented input since your previous salary review. It indicates your recognition of your worth and contribution. You're not asking for special treatment or expecting a handout.
Understand The True Significance of a Raise For You
A good-timed request significantly influences the outcome. To enhance the likelihood of success, strategically choose a moment when there are minimal barriers to approval.
One of the primary indicators that it might be time to ask for a raise is when you consistently exceed expectations in your role. If you've constantly gone above and beyond, it's a sign that you're contributing more than expected.
Another factor to consider is the duration you've been in your current role without a pay review. If you've been in the same position for a significant time, such as a year or more, and your salary hasn't been revisited, it might be time to broach the subject.