3 Best ways to ask for a salary increase (and get it)!

Filipinos often feel funny discussing money. And unfortunately, that includes asking for that much-deserved salary increase. When asking for a pay raise you need to get out of your comfort zone and believe with all your heart that you deserve it. Still, you must get yourself armed and ready just like you would at a client pitch.

Check out these three tips on how to ask for a raise from your boss and be successful at it.

1. Share advancement goals with your boss and ask for feedback

Founder and CEO of The Center for Advancing Leadership and Human Potential Danielle Harlan has this for advice: If you've been in your current role for at least six months, schedule for a one-on-one with your boss. In a non-pushy way, share that while your priority is to do great where you are now, your long-term goal is to advance. Say that you want to make sure you're doing things right. Then ask for advice on how you can do even better. This way, you involve your manager in mentoring you for the next role. The next step is to excel at implementing your boss’ suggestions. You’ll be on the mark by the time you ask for your raise or promotion.

2. Make your request before your company’s scheduled performance review

Here’s a little-known but very strategic tip: Usually, employees ask for a raise on their performance appraisals. But in most companies, salary decisions have already been made beforehand. So the smart thing to do is to make your request two months before review time.

3. Don’t be shy about sharing your accomplishments. Do it early in the game and often.

We Filipinos feel queasy about trumpeting our wins. But if you want your boss to see that you’re a star performer, toot that horn! Make it your goal to exceed expectations consistently and constantly. Go the extra mile, even. Offer to take on more responsibilities but make sure you manage your projects well. Then make it a habit to let your boss know about your wins as they happen. One tip is to let your accomplishments speak for you. For example, instead of saying "We went beyond targets," show your boss the numbers so they can see for themselves. This way, you are broadcasting your accomplishments, but you're not looking too full of yourself.

By the time you ask for that salary increase or even fancier title to go along with, your superior will only be too happy to give the well-deserved thumbs up.

Be smart about your pay raise

When you finally get that raise you worked so hard for, remember, it’s not just about upgrading your lifestyle. Think about your future too. Don’t get swept up in the wave of lifestyle inflation. Instead, why not put that extra cash into your savings, or invest it, or pay off some debts? If you do not have an emergency fund yet, create one now. The real deal with a raise isn’t about the fancy stuff you can buy now, but the financial stability you can enjoy in the long run. So go ahead, celebrate your achievement, you’ve earned it! But also, be smart with your money. Because being financially savvy today is your ticket to a worry-free and prosperous future.

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