Asking for salary raise…prepare for additional task

You may have taken a lower salary job than you would have because you were very anxious. Or your company may have cut your salary due to the harsh economy. Negotiating for a salary increase is usually difficult, especially in a competitive job market like Nigeria. A lot of people dread asking their employer for a pay rise because they may risk their jobs for just that.

Experts say you should not be afraid but take bold steps to negotiate if you have confidence in yourself and truly know that you deserve such an increase.

Miriam Caldwell, personal finance specialist, said you need to prepare for the consequences when demanding salary increase. One of such consequences is that you may be given additional responsibility if your employer endorses your pay rise.

She said you need to be prepared to continue to give your best effort so that your boss does not regret giving you the raise. Another possibility may be that the company is not in a position to give you the raise, or your employer may simply choose not to do it.

Before you ask, you should already know what you will do if you do not receive the rise. You may decide to look elsewhere for another job. Be sure you are ready to move on to a new job, she said.

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To her, some people wait until another job is lined up to ask for salary increase. This means you have another option immediately ready for you. If your boss says he cannot afford one now, but promises you one in the future, you need to decide what to do based on how long you have been at the company and your current working conditions.

There is not always a clear answer for what to do. You may be willing to work for a bit less to have a position that is secure or to have a job that is not as stressful as other positions. You may become resentful if you are turned down for a raise, so it is a good idea to be preparing your resume at the same time you are preparing your portfolio to ask for the raise. If you do receive a raise, you need to plan how you will spend it though your raise may not be as much as you planned.

Choosing the right time to meet your employer for salary increase is very important. Caldwell believes that annual review of the company is a better time to ask for salary increase. While reviewing your performance on the job, you will have the opportunity to negotiate with your employer on the issue.

Another good time to ask for salary increase would be after you successfully complete a big project or meet a tight deadline.

In cases of layoffs or if you know that the last set of quarterly reports was down, or you know the company is not doing well, you may be better off waiting or looking for another job elsewhere, Caldwell said.

According to her, before you go in to ask for a raise, you need to be prepared to make your case for a raise. The first step is to put together a list of the things you have done for the company over the last year, and since you were hired. If you were promised a raise and did not receive one when you were first hired, you may need to address that.