Whether your raise is long overdue or not, asking for more money can be difficult, especially during tough economic times. Writing a raise proposal is one way to bring up the subject without putting your boss on the spot. It gives you a chance to collect your thoughts on paper, while allowing your boss to think about it before you follow up. A well-written raise proposal can make a difference in whether you get a salary increase, so it is important for you to provide all of the information the boss needs for a decision.
Timing is Everything
Ask for a raise after a sustained level of contributions to the company. If you constantly bring in clients and makes sales, your boss will know your value. Make sure you being this up when you write your proposal. Don’t wait until business slows down and the company is struggling to make every sale. Ask for your raise when income and profits are high and your boss knows you deserve some credit.
Research the current market rate and salary information on your current position. The Bureau of Labor Statistics provides information on salaries and skills. Ask for a raise if you are being paid below industry standards. Look at job boards to see what others are making in your area. Stay within the industry standard when asking for a raise. You will be more likely to get a raise if you are below level or well within the range because it will be easier to argue your case.
Writing the Proposal
Address your boss by name in the salutation of your letter. Then, ask for the raise in the first paragraph and elaborate your reasons why in the body. Don't skirt the issue. Explain why you deserve a raise because of your contributions to the company. Don't go in depth as to why you need the extra money. Your boss does not need to know you need more clothes. List your accomplishments in bullet form in the body to make it is easier to read. Use a professional tone and be sure to spell-check and read through your letter before sending it.
Prepare for the Answer
Prepare yourself for a rejection. Thank your boss for his consideration and ask if there is anything you can do to increase your chances next time. It could be that the company cannot afford to give raises at this time. If the answer is no, you need to try to work harder and take the rejection in a positive way. Do not let the answer affect you negatively, just hope for a better result the next time.