There are many reasons why a compensation package doesn’t reflect the work being done. Before asking for a raise, be clear on the motivation.
Job Role has Changed
You are now supervising a team or getting involved in training of new staff. Your responsibilities are closer to the bottom line so your accountability has increased as well.
No Cost of Living Increase
Inflation continues to happen. As housing prices soar in some cities, the cost of covering the basics – food, water and shelter – take over pay cheques. If you have not seen annual increments in your pay, prepare for your meeting by researching the stats on cost of living increases since the date you started.
Bonus is Based on Salary
From a monetary standpoint, if your bonus is based on a percentage of your base salary, then asking for a raise to your base will also affect your bonus amount.
Inequity of Pay with Coworkers or Industry
An inequity of pay based on gender differences is a reason to ask for a raise. Also, if your compensation package is not competitively aligned with industry standards, present your case to your supervisor.
Increased Sales, Decreased Wastes
If your efforts have directly affected the bottom line e.g. you’ve introduced a product or service to a new market, then you have great evidence to support a pay increase.
Taken Further Education
You’ve been proactive in your professional development. You’ve gained a credential. Bring this to the attention of the HR department and your supervisor.
Excessive Overtime
You are on a fixed salary and are consistently putting in over time with no time off in lieu.
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