Examples of reasons for a salary raise

Why should I ask for a salary increase? Can salary increase letter? When to ask for a salary increase? What is an example of a pay increase?

Common reasons include: Your boss promised you a raise at the end of your probationary perio your responsibilities have increased or you received a promotion. Less common, but still important reasons include: An increase in the cost of living where your job is locate you have not had a raise in a long time, your salary is below the average. For example : “Launched a rebranded company website, which resulted in month over month increase in site visits last quarter. Identify a salary range or percentage increase in pay that you’d be happy with.

Note that is considered an average or even generous pay increase. So before going in to converse with your employer, write down some concrete examples of reasons why you should get the pay raise you’re asking for. Salary Increase Letter Templates Download 15. Twenty-eight percent of folks who didn’t ask for a raise listed discomfort talking about salary as their reason for holding back. If you don’t pay your employees the wages that they deserve, they’re going to start looking for jobs that pay a competitive rate.

This puts you in a tough situation because not only will you lose your best employees, you’ll also be faced with the daunting and expensive task of hiring new people. I need more money because my rent went up or I need a pay raise because my car is about to die. Cost of living based salary increases in various geographic locations are usually standard protocol when an employee is transferring to another work site or business location. The highest salary an employer will pay you is what it would cost him to replace you.

So, if your current salary is $600 you can safely ask for $60to $7000. Make an Inventory of Your Contributions. You know you deserve a raise , and you know how much of a raise to ask for.

For example : I’ve exceeded the goals that were set out for me when I was hire and I believe that going above and beyond my existing role merits a pay raise of. This is in line with the industry standard for someone of my experience in this kind of role, especially with the goals I’ve met and exceeded in my time here. The person that manages your salary or bonuses is the only person you are supposed to ask for a salary increase. Achievements are always good reasons for a pay increase. If, for example , you’ve landed a new account or surpassed your sales goal for the year, you’re bringing additional funds into the business.

The additional monetary value can be used to justify an increase in salary. Think about what you might accept instea says Ungless. You should never ask for a raise without preparing for this conversation.

No matter how good your relationship is with your manager, they will be expecting you to prove that you deserve the salary you’re asking for and won’t respond favorably if it seems like you did not prepare. Examples of reasons to justify a pay raise. If your employee’s earnings are comparable to what’s currently being offered in the market, you can cite this as a reason why they don’t deserve a raise at this time. Once you’re armed with all the facts—including your employee’s overall job performance, their salary demands, and the market rate for their position—it’s time for. Asking for a raise is nerve-racking, but it can be done (even when the economy is less than roaring).

Here are the steps to tackle first. You’re not so much asking your manager to give you a raise as you are asking your manager to work with you to adjust your compensation to reflect the value you add in your role. During the performance review meeting, you must tell the employee why he is not getting a raise. It is true that declining such requests is difficult for the company when you know that the performance of this employee is commendable but if the company cannot give a raise in salary at the moment, they need to write a refusal letter to the employee.

You will need to make a case that in terms of the value you have added or are adding to the company and yourself, that you deserve a salary raise. Set a figure to aim for. Go with an incremental increase in your salary rather than a large wage that would place you into a different company pay range.

Dress for success when meeting to discuss your raise. As with job interviews, dress a step or two above your normal pay grade attire. Be determine but respectful. High performers get more than low performers. The midpoint salary in a salary range reflects what most people in the job market is being paid for silimilar jobs.

It’s simply a case of, if you don’t ask then you won’t get. Making sure you’ve prepared properly for your meeting is crucial to your success. A recommendation for a pay raise letter needs to not only be carefully planned but have a good reason behind it as well. Management doesn’t tend to like random requests for raising people’s pay and some companies have setup structures as to when employees get pay raises and how much those raises will be.

By Joyce Lain Kennedy. You’re not alone if your pay rate is among the most important factors in choosing a job. Pay Raise Letter Format. When writing a pay raise letter, it should be brief and not a very long one.

The tone should be confident and persuasive. If flight risk becomes a common reason for adjustment, hiring guidelines and pay practices for new hires, as opposed to individual compensation, should be reviewed and changed if necessary.