Feeling Under-Valued at Work? Don’t Miss These 10 Signs That It Is time to Renegotiate Your Salary
Are you feeling under-valued at work? Are you increasingly feeling less motivated and productive? Would you like to ask for a raise — but you just don’t know how? If you answered “yes” to any of these questions, then it may be time to negotiate a higher salary.
It can be a daunting task to ask for more money, but you can only try — and you should! Employees who make more money and feel valued at work are more likely to continue investing in the company and to feel like they are part of the grand scheme.
If you think it may be time to ask for a raise, then read on to get our salary guide and 10 sure-fire signs that it’s time to start planning for a talk with your boss about renegotiating your salary.
#1: You Are Underpaid by Industry Standards
Start by doing some research about your salary. Is there an industry-agreed-upon range for people with your experience, title or job in your industry? There can be a lot of fluctuation with these numbers, but in general, there should be a range. From there, you can ask during your talk with your boss if there is reason your salary is significantly lower. For example, some sectors — such as higher education — pay lower than the private sector, so the same job will have a salary difference.
#2: You Have Routinely Exceeded Expectations Sans a Pay Increase
Keep track of your progress and your work goals. If you are routinely exceeding your set goals that you have agreed upon with your boss but you still are not receiving a salary increase, then it’s time to set down for a negotiation. A proven track record is the absolute best evidence you have for a salary increase.
#3: You Have Been at Your Job for at Least Six Months
If you’ve recently accepted a job and negotiated your salary, you can’t immediately ask for a raise unless the job description you were hired for has drastically changed and you are doing more or different work than you were originally hired to do. In general, it’s good to wait at least six months to get acclimated to your job and to show your commitment to the company before asking for more money.
#4: It’s Difficult To Find Time to Talk to Your Boss
If you’re working in an office in which you cannot get time with your supervisor, then it’s time to sit down for a talk. You need more direction and consult — and if you’re taking on all the leadership and decision-making roles for your position, your job instantly is expanding.
#5: Your Review is a Long Way Away
It might be a good time to talk about a raise if your review is a significant timeline away. Now, some companies have set annual reviews, and so there isn’t a good way around this. However, if you’ve been promised a review and it hasn’t happened, or if you don’t have a set time of year to talk about a review — then setting up an intentional time now may be an option.
#6: It’s a Good Financial Time for Your Company
Companies under financial duress may have their hands tied if you ask for a raise. But if the quarterly reports are back — and they’re good — it may be a good time to talk salary. Time your talk so that it benefits you the most it can.
#7: Other Employees Are Receiving Raises
Have you noticed that your colleagues are getting raises but you’re not? Is your work exceeding theirs? This isn’t the time to whine to your boss, but you also need to find out why others are getting raises but you’re being passed over.
#8: You Have Taken on a Management Role Without Increased Pay
If you take on increased roles as manager or supervisor, but your pay has not increased, then it’s time to address the issue with a raise request. In general, Human Resources requires a different pay band for workers who supervise other workers.
#9: You’re Unmotivated in Your Work While Still Exceeding Goals
A telltale sign that is time to talk about a raise is if you are meeting all your goals at work but you still feel uninspired and unmotivated. You need a new challenge. Think about what that might be and propose expanded roles along with a pay bump.
#10: You Feel Undervalued
It’s time to ask for a raise when you feel undervalued at work. Don’t let this turn into a whine session with your boss. Use it as a way to point out what isn’t working and offer solutions. Then, lay out your track record and ask for that pay increase. Research shows that it benefits employers to give workers raises as a motivator and as a sign that they are valued at work. Why not offer those stats to your boss?
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Are You Ready to Make More Money?
If there is one last piece of advice to offer you as you plan to renegotiate your salary, it’s to present the facts and build your case. Much like a credit card issuer is not going to raise your limit based upon an emotional appeal, your boss isn’t going to fight for a salary increase for you just because you spent too much of your savings.
Instead, prove how valuable you are. Make the case for why paying you more helps the company. Don’t whine or argue. Become your best advocate and let yourself and your achievements shine. And, if after all of that, you still don’t get that salary increase, start looking for a new job and a company that will reward your contributions and hard work.
Karl Magnusson is a career coach. He focuses on helping people find the right path based on their skills and expectations. He has a project called SalariesHub, a salary guide for various jobs in different areas of activity meant to be a go-to resource for everybody looking for a job or a career in a particular business niche.