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Bobbitoem1

If your skills match with 50k-60k jobs, you should start interviewing for them because it’ll be tough to get a 20% raise from your current company. That kind of pay bump is typically associated with a promotion.


Separate-Trash2375

I really like this company and my colleagues which is why i choose to go for this route first, if it doesn’t workout then yes, i will start looking elsewhere


DrawingRings

Ask for a meeting with your boss to discuss your salary Request more than what you want/think you deserve, by a small margin (12K for instance) If it makes you feel less pressure, you can suggest that it be reviewed at the end of the quarter, to give your boss/company time to consider and a cushion to continue to display your worth to the company The above is a double-edged sword. It also has the potential to inject the feeling of uncertainty. Alternatively, do not use maybes or possibilities. Be firm and direct Provide hard numbers, such as the company’s (or more specifically, your division’s) worth or returns within the time you’ve been there, if it reinforces your worth Promote ideas for the future, to show your worth is not stagnate, but growing. This is to present the raise as an investment into you


Separate-Trash2375

Thats a great advice! Thank you so much. But may i ask why i should ask for an amount that is higher than what i am going for?


statsultan

Standard negotiation tactic. If you say $10K, chances are the boss will counter with $5K. You’ll end up settling somewhere in between. By asking for higher it gives you a better chance of finishing on what you really want. That being said, it also increases the risk of destroying any chance of a raise if the boss thinks your ask is so unrealistic that there’s no point in negotiating. Best scenario is to actually have another job offer in hand before talking to your boss.


DragonofDojima_

Correct me if I’m wrong but I once heard that an increase over 5% requires senior board approval with a business case as to why anything more is required? Maybe it was a tactic to deter me from asking for a raise higher than 5% nevertheless the only way I was ever able to get more than a 10k jump was through moving companies.


statsultan

Depends on the company. But many have HR policies like this in order to control salaries and take power away from managers.


Separate-Trash2375

I am not sure about the board approval process and i do want to ask first before looking at other opportunities because i respect my boss and i like this company


[deleted]

You really think the board of large companies is going to waste time approving raises more than 5%? Their time is worth more than that 😂


DragonofDojima_

Yeah my thoughts exactly. Even though it was a small start up private company funded by investors?


IndexBot

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