But before you meet your employer for negotiations, you must have some facts at your fingertips. Here are some things you need to know before meeting your employer for a pay raise.
1. You're over qualified for an increment
This is not a time for sentiment or envy. It's not because your colleague earns more than you. It's just because you felt you've been adding more value to the company more than the reward you're currently receiving. This is more applicable in the private sector. You must be sure you over deserve it before you ask for it. Your pay is actually determined by the level of result and value you've brought the organization and not just work. It’s about results.
2. Be sure you have all the facts
Since you're asking for a raise with respect to the value you have added to the company, you have to get your facts ready. You must have the references to the specific work you did and the results you've brought to the company that makes you think you truly deserve a pay raise. Asking for a pay raise is like building a case, if you do it well, you'll get what you're asking for and if not, it may end in disappointment. Remember those instances when your effort brought tremendous profit to the company or brought new customers. You must have them outlined before you request for an audience with your boss.
3. Do some job-pay research
You will need to find out what others in your field are earning in other companies. You can get an idea by talking to several people in similar fields and in your specific career. You must know however that the financial strength of companies differs and you mustn't be expecting too much from a company with lower financial strength. When you've made wide consultation, you will be able to have an idea of what you should be asking for when meeting with your boss.
4. Seek an audience with your boss
Once you've gathered all necessary facts, brace yourself and ask for an audience with your employer. This is not a time to be shy. At least you've made tremendous impacts which the company cannot deny. While with your boss, do appreciate the company's effort in rewarding your effort so far and the conducive working environment provided which has really helped in discharging your duties appropriately.
Do tell your boss that nevertheless you still consider that the company can still do more than it is currently doing in terms of your pay. Having laid that foundation, go ahead and present your facts and findings.
You must bear it in mind that your request may not be granted immediately. Most bosses will tell you that they'll consider your request. Keep on with your good work irrespective of the outcome. If things don't change about three months after, you can present your case again.