How to write a salary increase letter
Request for a pay raise requires proper preparation or arguments. In this article we bring you effective tips. It is important that everyone is rewarded appropriately for their work. Asking for and negotiating for a pay rise is not usually an easy conversation to have with a supervisor. It’s just that what you don’t ask for, you usually don’t get. So how to ask for a pay rise and succed?
In the article you will learn:
Map the current situation
Most companies tend to increase salary regularly along with employee reviews at the end of the year. This is especially true in a corporate environment. If you’ve achieved your desired annual goals, this is the perfect time for pay rise negotiation. If you want to apply your salary increase letter outside of this period, find out first:
- how the company is doing financially,
- what is the mood of the managers,
- how you’re doing with your direct supervisor
- what the job market is like in your field.
All of these circumstances have a major influence on whether it is appropriate to make a request for a pay raise at all. At msg life Slovakia, we value the quality work and commitment of our employees. We offer not only an attractive salary, but also Christmas, performance and special bonuses, a generous meal allowance or language courses and professional training. Take a look at our latest job offers, join us and take your career further!
Have compelling arguments when making a request for a pay raise
Fortune favours the prepared mind. This is doubly true when making request for a pay raise. Prepare a stockpile of arguments around which to build your request. You can use the principles of effective communication to negotiate. Don’t forget to rehearse the whole conversation too. For example, mention your achievements so far, an improvement in job responsibility and expertise that makes you more efficient and saves the company money. Also outline projects and other work that awaits you in the future. Don’t be afraid to share positive feedback on your work from colleagues or your strengths with your manager, too. Generally, the higher the pay rise you ask for, the stronger your arguments should be. Back them up with real numbers. Did the completed contract make a profit for your company? People with high-demand and scarce skills (e.g. IT or technical fields) have a stronger bargaining position.
Do a comparison of salaries that are common in your field and for roughly the same position. You can then argue that you would like to continue working for the company, but you are below the average salary level, which doesn’t seem fair.
Choose an appropriate amount
You may wonder how much pay rise should I ask for, as a rule, it is common to ask for a 10% pay increase. But of course it depends on the circumstances. Consider both your experience and how long you have worked for the company.
A salary increase letter with the right timing
The best time to do pay rise negotiation is when a major change has come. For example:
- the expiry of the probationary period,
- successful completion of the project,
- acquiring a new customer or order,
- promotion
- extension of existing competences.
Another good time might be when you have interviewed with another employer and have received a specific offer from them. You can then use it as one of your arguments. However, do not threaten your employer with it.
Salary increase letter after probationary period
The question in the right place is also after what period of time can I make a request for a pay raise?
Salary increases after the probationary period are agreed before you start work and are usually part of the acceptance letter or employment contract.
Unless agreed in advance or supported in writing in an employment contract, it is not uncommon in the workplace to receive a salary increase before the end of the probationary period or before moving to permanent employment.
Schedule a meeting
Does your supervisor have an important presentation coming up? Then postpone the meeting. After all, you want them to be in a good mood and not stressed. You’ll reduce the likelihood of them rejecting you. Make an appointment with them in advance. Book a meeting room and set aside plenty of time on your calendar. Definitely don’t try to catch your boss during the day between meetings or when you go home.
Avoid these 3 mistakes
Don’t threaten to leave. Unless you really want to do it. Remember, this is not a fight, it’s a debate. So don’t get on the offensive, it could backfire on you. Don’t play on emotions. Unfortunately, your employer doesn’t care that you want a pay rise because you would like to take your family on holiday or that you have a sick dog at home. Communicate factually, concisely, decisively and specifically. Don’t take rejection personally. The outcome of salary increase negotiations depends on a number of circumstances, some of which are beyond your control. It’s possible that your boss simply doesn’t have the budget to give you a raise.
Failed? Want a clear plan!
The interview didn’t go as you expected? Don’t hang your head. Ask your boss what needs to be done to get the requested pay rise and how you can get it. Ask for a timetable after which you and your supervisor will revisit the issue of your pay raise.
Find an employer who will look after you
Your supervisor didn’t meet your demands? Then maybe it’s time to change employers. If you’re in IT, working at msg life Slovakia allows you to participate in interesting projects. You get attractive employee benefits including flexible working hours, further training and last but not least you get the opportunity to learn from the best in their field. At msg life Slovakia we value quality people. Join us!
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