Money Talks – Fighting The Commons Myths When Asking For A Raise
When we work with candidates, we’re very upfront about compensation for their prospective role. We want them to know what they’re realistically worth in their field and market while empowering them to ask for salary they desire. Once they secure a role, the next questions that come up revolve around asking for a raise.
There are of lot of negative stigmas around this topic. That’s why we strive to provide valuable tools to help you succeed. We think it’s respectable and totally expected to have conversations around your compensation at the appropriate moments. For example, let’s say you just wrapped a big project and helped a client increase ROI exponentially. That would be a good time to ask for a pay bump.
In this post, we’re helping you understand the common myths around asking for a raise and how to combat these respectably without coming off as arrogant or greedy.
Asking for a Raise: The Common Myths and Why They’re Wrong
Myth #1: I Don’t Want to Come Off as Greedy
First and foremost, it’s NOT greedy. Plain and simple. Chances are, your manager is reasonable. They’ve had previous experience managing people and honestly, they probably even asked for a raise themselves.
Come into the meeting prepared and confident. If you’re able to provide numbers or documentation on your growth, that will help you show instead of just telling them why you would like an increase in your compensation.
Myth #2: My Boss Doesn’t Like Me So They’ll Say No
This is a concerning myth that we’ve heard before and it brings up a couple issues. First, if you believe that your boss doesn’t like you, that’s a toxic environment. It’s wise to address these concerns before asking for a raise. Second, think about factual evidence as to why you think your boss doesn’t like you. Have they made statements supporting your worries? Are they cold or short when talking to you? Make a list and consider, maybe they’re having an off-time and maybe it has nothing to do with you.
If you’re still concerned, you should talk to someone else in the organization to try and get this issue resolved. If you still feel lost, maybe it’s time to look for a new position.
Let’s say you resolve these concerns and realize that your boss does indeed like you. Now it’s time to realize that they won’t say no instantly. And honestly, they cannot say no based on whether or not they like you. It needs to be based on dedication and performance.
Many young professionals discount the work they do, feeling like their contributions are insignificant because of where they are in the hierarchy. However, realize that your role is pivotal to your organization’s success. Your boss should be noticing the great work your doing, which will make asking for the raise much easier and validated on their end.
Myth #3: It’s Not the Right Time to Ask for a Raise
As they say, there’s no time like the present. Sure, if you’ve been at your organization for a month, maybe it’s not the right time. But if you’ve been with your organization for a year or worked on a project that took many months and it’s wrapped up successfully, go for it.
The most important thing above all is being honest with yourself. Why do you feel that you deserve more compensation? Have you been performing at an extremely high level? Have you saved your organization time and money? Collect and organize all of the reasons you deserve a raise and bring those to your meeting.
You’re likely always going to feel nervous, and sure, there are right and wrong times to ask, but the most important way to backup your claim is bringing evidence on why you deserve more money.
Myth #4: I Need to Fight the Gender Pay Gap
This is a real problem in our country. Overall, the gender pay gap in the US is 21.4%, meaning women earn, on average, $0.79 for every $1 men earn. In the tech industry, the adjusted pay gap sits just above the national average at 5.4%. The widest pay gap is 11.6% for computer programmers.
We all know this is real but that should never stop women from asking for fair compensation upon hiring as well as increases down the line. The best thing you can do as a woman is knowing your worth as well as the average salaries for your desired role. Come into conversations confident and ask for compensation that matches industry standards. Good companies will pay you what you deserve, no matter your gender.
Myth #5: I Don’t Have the Upper Hand in the Conversation
It may seem like your boss has the power when you’re asking for a raise. We get it. They’re the one approving your request. But in reality, the power is all yours. If you’ve performed at a high level and have made strides within your organization to increase productivity and output, you deserve a pay increase. Plain and simple.
The power is in your hands and unless there’s a structured system for pay increases at your organization, chances are, you won’t get a raise unless you ask.
Use the tips we’ve outlined above to prepare your pitch before asking for money. Always dress for success and come into the meeting with quantifiable reasons why you’ve helped your organization succeed. The more prepared you are, the more successful the conversation.
If you need help coming up with a plan or just have questions about the whole process, we’re here for you. We know it can be an awkward conversation but it’s necessary for your growth as a tech professional. Get in touch with us today to find out how you can gear up for success and get the money you deserve.
Here at BWBacon Group, we know and live what you are experiencing as an employer or job seeker in Denver, Boulder, Dallas, San Francisco, New York City or any of the other cities we work in. We believe great recruiting starts and ends with understanding people.
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