New year resolutions work up the courage of employees in asking for a pay rise, and January being the popular month to ask for a raise cause of the annual performance review cycles, you might want to jump at the opportunity to speak for yourself. According to LinkedIn data, January is the top month for promotion activity. If you’re on your boss’s shortlist of go-to people, this could be your year to increase both your status and your salary.
Here are some of the compelling reasons why you should consider asking your boss for a raise this January.
You’ve got to prove your worth to the employer. Focus on your own performance and the great things you achieved last year (there has to be something). Experts say if you can’t point to two or three big-deal accomplishments, then you might have to put to hold the thought of asking for a raise.
They advise that you should add these accomplishments to your LinkedIn profile as well to remind your manager of your success and impact and showcase your professional brand.
2. You have figured out what your worth is
Before you meet your boss, you need to figure out how much you want. Go into the conversation with a number or percent and be willing and able to justify the amount you want. Do your homework well research thoroughly so when you step into that room with all the confidence in the world.
You must practice your pitch, or reach out to a mentor or friend to help you build your confidence.
3. Negotiable timeline
Don’t be surprised if your boss gives you No for an answer. You need to convince him to agree to a less stressful timeline. Three months from now or a few quarters down the line if you are certain about your stay in that company.
This future raise be contingent on some quantifiable performance metric, which gives a defined target as well as a financial justification for your raise.
4. Non-monetary benefits
Look at other possible channels that could improve your income which the employer is willing to offer. If your job is flexible, you could request to work from home on some days of the week. This way you will not be spending so much on the road trying to beat traffic on your way to work.