How to Negotiate Salaries and Raises

“Paisa, Paise ko khinchta hai.”

This is a very famous dialogue that Emraan Hashmi said in ‘Jannat’. But you have spent crores of rupees on your education, only to work for ₹15,000/month. Isn’t that surprising?

If you also feel that you are underpaid or deserve a raise or an increment, then read this blog. After reading this blog thoroughly, you can rest assured that you will feel confident in asking your employer about a salary raise or an increment. And if possible, a personal loan for salaried employees can also help you in covering all extra expenses.

Were You a Good Student?

Let’s suppose you studied engineering in your graduation. And now you want to pursue graphic design as a professional career. In such a case, you will only be able to get an internship as a graphic designer. Do you know why? That’s because you don’t have a formal degree when it comes to graphic design.

Similarly, if you are from an Arts background, then landing a high-paying coding job will be really for you to pull off. However, after a few successful projects, you can easily get a raise or an increment. However, you must know how to ask for a raise.

What’s the Salary of Your Competitor?

You should always ask your friends what your job profile is making per month in their companies. For example, if in ABC Company a budget of ₹10,000 is set for a graphic design intern, so that’s your first insight.

Similarly, you have to ask some other companies to get a better idea about your pay scale. As a result, when you discuss your salary with the recruiter, you will have the confidence to ask for your desired amount.

Also Read :- Personal Loan in Mumbai

Do You Deserve a Raise?

You have worked for XYZ company for the last 2 years on the same salary. However, you are still confused about whether you deserve a raise or not. In 2024, the salaries have witnessed a 9.8% raise as per this report. So, are you one of the employees who got a raise?

Read further if you want to get a raise as well. If you have worked in a company for 2 years, then prepare a report of all the work that you delivered in the last 1 year. Now, what was the direct impact of your work on the company’s revenue?

For example, you are a content writer and have worked in a digital marketing agency for 2 years. Then, you need to calculate your average word count and your rate of rejection. If you write 3 blogs daily, then assess how many of those blogs are sent for rework.

You can also ask your team lead about the number of clicks each of your blogs gets. Secondly, you need to record some parameters that you followed in each of your content. For example, if you have a really good readability score on all your blogs, then you should mention this point in your research.

How Many Fellow Employees Got a Raise This Year?

You have to check whether your company has given a raise to any other employee. If some other employee has also gotten a raise, then you need to inspect the percentage increase that he/she got. However, it’s confidential information, and you need to be very careful when arranging for the same information.

Conclusion

You have to show your seniors that you have played an important role in the past 1-2 years. No one will give you credit for whatever you have done until you make them realise the same. Your team leads and seniors don’t know what impact you made on the company. That’s why it’s important to keep a record of whatever you do for the company.