when to ask for a salary increment
Know the worth
Before asking for a salary increment you should have gauged the worth of you. Just like every product has a price, every person gets paid based on their skills. If you think you have more skill than any other in your job with the same category as you; ask for a hefty salary increment. If you are good at technical skills and communication skills and teamwork skills then you can ask for a higher salary. If you are fresh to work, don’t expect more money without gaining any experience in a specific field. Always think before you ask for a salary increment if you made more progress and made more profit to your company; surely you can ask for a higher salary increment. If you have not been pulling your weight work hard to make your company benefit from your work or project.
Company financial health
If your company’s financial health is not so good then it’s not the right time for asking a hike. Always check your company’s financial report before asking for higher payment; it gives you a higher chance of getting approval. Even if the financial health of a company is not good you can ask for a raise, depending on other factors that have been listed.
Always keep your manager workload under notice, whether he is under stress or free-minded. If he is under some kind of stress because of workload or he is involved in personal related problems, then this is not a perfect time for asking any kind of salary increments. Always keep a good relationship with your manager otherwise there are more chances that he will definitely put your request down. Pay attention to your manager’s moods and identify when is the right time to proceed.
Best time of the year
After joining your job don’t expect much before gaining any experience. Once you gain more experience you can ask for increment, it might take hardly one or two years to gain enough experience to demand a raise. You can ask payment increments in annual or quarterly reviews with the employee. The most likely end of the financial year is the best option for asking increment. That’s the time when the company will be focused on budget and tax reports. If the company is doing well then there are higher chances of getting your salary hike. Make sure your skills are widely acknowledged in your company as it is very important for a salary hike.
Always stay confident before asking for an increment. If you don’t think you should be asking for an increment then don’t. There is no shame in asking for an increment, so if you get rejected don’t think of it as an embarrassment. Equip yourself with every skill and knowledge that profits the company and demand for a raise, nobody would be able to deny that.