Money isn’t everything, but it’s a normal part of career development in Las Vegas. If you feel like your current salary doesn’t represent the value you bring to the team, it might be time to ask for a raise.
If you’re like many people, you might feel a bit intimidated by this process, but don’t. You deserve to get paid for the great work you do. Here’s a look at seven things you should know before marching into your boss’s office.
Don’t Feel Like You’re Being Unreasonable
If you’ve never asked for a raise, doing so might make you feel greedy — but it shouldn’t. Without a doubt, this isn’t the first time your boss has had this conversation with an employee, and it certainly won’t be the last.
Time it Right
In life, timing is everything, and this includes deciding when to ask for a raise. If your boss is in a terrible mood or the company has just declared bankruptcy, this probably isn’t the time. However, if you’ve recently had a big win for the company, this is time to go for it.
Wait at Least a Year
As a general rule of thumb, you shouldn’t expect a raise more than once every 12 months. Many companies make raises part of the annual performance review cycle, but everyone doesn’t operate this way. If it’s been a year or more, consider this a green light to go for it.
Sync Up to the Budget Cycle
At some companies, raises aren’t typically granted at certain times of year, because there isn’t enough room in the budget. If your company works this way, ask for a raise during the standard time increases are granted, because you don’t want to be told there isn’t enough money right now.
Know Your Worth
Make an informed decision about the amount of money to ask for by conducting research on average salaries for your job, in your local area. Use data from the Bureau of Labor Statistics to determine what your peers are earning — taking your education, years of experience and individual contributions into account — and base your request on this.
Consider Company PayPolicies
Every company takes its own approach to raises. Some cap the increase an employee can receive at one time and rigidly stick to pay grades, while others are more liberal. Taking this into consideration can increase the chances you’ll get the salary bump you want.
Have a Backup Plan
Hopefully, you’ll get the raise you deserve, but you might not. If your request is denied or you’re granted a raise much smaller than you wanted, figure out how you’ll proceed. You’re far too valuable to continue working for a company where you’re giving more than you’re receiving.
Find a Job Where You Feel Valued
Ready to explore new opportunities where your contributions will be truly appreciated? PrideStaff Las Vegas is here to guide your search. Contact us today find out what we can do for your career!