Ready for a bigger paycheck? 🤩

Learn how to ask for a raise.

March 29, 2023

Bienvenido a otra edición de LevelUp! Bem-vindo a mais uma edição da LevelUp! Thanks to all our 29,565 subscribers and the new 1,749 folks who joined us this past month.

Not sure how to ask for a raise?

Asking for a raise can make many professionals feel uneasy. They may fear rejection or struggle to find the right words to broach the topic tactfully.

Typically, standard pay raises range from 3% to 5%, and exceptional cases may receive 10% to 20% increases. Depending on the circumstances, asking for a higher raise can initiate negotiations.

Moreover, remote workers may face an extra hurdle, as having challenging discussions with their managers, such as requesting a raise or promotion, can be daunting online.

Here's some good news: Payscale's survey shows that 70% of those who asked for a raise got one, and 39% received the exact amount they wanted. 

Don't let your nerves hold you back from advancing your career. We can provide guidance to help you confidently ask for a raise. Keep reading!

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🤔 Evaluate your company's situation.

When it comes to asking for a raise, timing is crucial. Avoid sensitive times, such as layoffs, low quarterly numbers, or your boss dealing with personal issues.

Instead, aim to request a raise during a "good" time, like when your boss is pleased with your work or during a successful quarter.

If your company has a standard practice for raises, plan and approach your boss in advance, allowing them time to consider your request and work with their superiors. Remember, timing is everything!

🔍 Plot your moves and practices.

You want to approach the conversation correctly, so take the time to prepare for the conversation. It's normal to forget your accomplishments at work when you're caught up in day-to-day tasks. But when you work from home, it's easier to be overlooked. You should remind your boss of your achievements before asking for a raise.

Gather the necessary information: how much money do you want to ask for (based on your research)? Create a list of your top achievements in the last X months since your last salary increase (or since you started working), including any added responsibilities.

Create a list of your top accomplishments since you started working at the company and keep it handy during your meeting. This will help you remember important details and serve as a visual reminder of your successes.

REMINDER - USE ACCOMPLISHMENTS, NOT LONGEVITY, AS A BASIS FOR A RAISE.

🤨 Let your boss know what's in it for them.

When discussing your raise, it's essential to highlight your past achievements and plans. Outline your goals and explain how they align with the company's objectives and the benefits they will bring.

Additionally, provide a clear plan on how you intend to accomplish these goals. Your boss will be more willing to consider a raise if they can see the value you will bring to the company in the future.

🤝🏽 How to ask for a meeting.

When requesting a raise, timing is crucial, even in a remote work environment. It is essential to avoid approaching your boss at inconvenient times. Therefore, be sure to give your boss a heads-up regarding the topic of discussion to allow them ample time to prepare.

WHAT TO SAY AT THE BEGINNING OF A SALARY REVIEW MEETING - "Thank you for granting me this meeting. I appreciate the opportunity to discuss the possibility of a salary increase with you, given my continued dedication to achieving the company's objectives and my desire to take on additional responsibilities."

⛔ Be prepared to hear "no" and plan your next step.

When you request a raise, it's essential to understand that your boss may not give an immediate positive response. They may need to consult with others before reaching a decision. It's acceptable to ask for a timeframe for when you can expect a response.

For example, you can ask: "Is it okay if I follow up with you in two weeks if I haven't heard anything?".

Even if the answer is "no", don't give up. Take it as an opportunity to ask for feedback on improving your performance to increase your chances for better compensation in the future.

If you receive a positive response, maintain professionalism by thanking your boss for their consideration. Then, continue to work hard to demonstrate that you deserve the raise.

👀 LIVE EVENT TOMORROW.

Don't miss out on tomorrow's event, March 30th, that will inspire and shed light on the experiences and opportunities of women in tech.

You'll have the chance to hear from three incredible women who have smashed through barriers and made a name for themselves in the industry:

  • Alyssa D., Product Specialist at Canvia and Peruvians in STEM Ambassador.

  • Sthefanni B. G., Head of Sales at Platzi.

  • Majo Calle, Talent Acquisition Specialist at TECLA.

This is a valuable opportunity to gain insight into the tech industry and connect with like-minded individuals.

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  • 🌪️ Join our client as a Security Engineer and help secure the work of 15 million developers. Revolutionize software development while earning a competitive salary based on your experience. (🇨🇴 Open only to Colombia)

✍️ QUOTE OF THE WEEK

🇺🇸 “At the end of the day, you put all the work in, and eventually, it’ll pay off. It could be in a year, or it could be in 30 years. Eventually, your hard work will pay off” - Kevin Hart, American comedian.

🇧🇷 “No final do dia, você coloca todo o trabalho e, eventualmente, vale a pena. Pode ser em um ano, ou pode ser em 30 anos. Eventualmente, seu trabalho duro será recompensado.”

🌎 “Al final del día, pones todo el trabajo y, finalmente, valdrá la pena. Podría ser en un año, o podría ser en 30 años. Eventualmente, su arduo trabajo dará sus frutos.”

The message is clear: no matter how long it takes, results will eventually be seen through the efforts and dedication put in. This quote emphasizes the significance of having patience and determination to accomplish our goals.

When it comes to asking for a raise at work, this quote can be a good reminder that hard work and effort should be rewarded. A strategic approach is necessary to request a raise successfully, involving thorough research into market salaries for comparable positions and documenting accomplishments and contributions. Communicating the value that you bring to the company is also critical.

I hope you enjoyed this week's edition! Have questions or topic suggestions? Let's chat! Remember to check out our Discord channel, where you can join a thriving community of 1.160 LATAM professionals who discuss career tips and networking opportunities. We're here to help you soar to the top.

Stephanie Cerf - Head of Community at TECLA.