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This is how much money you should ask for at work

Want a raise? This is how to do it

This is how much money you should ask for at work
27 March 2018

You’ve been in your current job for a while, but you’re still on the same money as what you started out with.

You’re not sure how it happened, but a few years have passed and it feels like you ought to be making up for lost time now.

Sure, you might have considered quitting, but you weighed things up and decided you need to at least try to stick around and earn a higher salary where you are.

However, there’s one small problem. Every time you’ve been given a raise in the past, you haven’t needed to ask for it directly. Now the onus is on you, you don’t know where to start.

Thankfully, there’s now a handy guide at your disposal.

Business Insider spoke to workplace expert Lynn Taylor, who notes 10-20% more than your current wage is often the magic number, but there are caveats.

“If you get an offer for 20% over your current salary, you can still negotiate for more — ask for an additional 5% — but know that you’re already in good stead,” Taylor explains.

That’s not to say you can’t or shouldn’t ask for more, but it’s worth keeping the market rate in mind, and that means doing your homework ahead of time.

By figuring out what someone with your skills in your line of work should be earning, you can determine if you’re already making what you ought to be – that’s not to say you can’t still ask for more, of course.

Of course, perceptiveness is always a good skill to have, both within your job and while negotiating with your bosses.

Perhaps you’ve done your research, and you know you’re already being overpaid, but you also know your boss likes you and wants to keep you around.

They might even come in with an offer before you’ve even had the chance to stake your case – that’s the point at which you don’t just settle, but rather push for even more.

“You’d be well served in your career to become comfortable with the process. You get one chance to accept a final compensation package at your company, so be prepared to make a persuasive argument,” Taylor says.

(Images: Getty/Pexels)