Do You Want A Raise? Now Is The Perfect Time To Ask, Career Experts Say

Times are changing quickly, and more Canadians realize that their dollar isn't stretching too far these days. They are also wondering when their pay will catch up with the same. If you have the same thoughts, read on to know why now is the perfect time to ask for a raise and how you should go about it.

The Job Market is Growing

The labor market is quite tight at the moment, so companies are willing to pay more to retain existing talent. They are also paying more to hire new talent. So, it can be the right opportunity to ask for a higher salary.

New Hiring Trends

The hiring trends are also changing. Many US companies are hiring Canadian employees to work remotely for them. Worker shortages are also at a higher level than usual. So, wages are rising to attract new talent.

More Transparency

Thanks to social media platforms, people are now discussing their worth and salaries on platforms like Reddit or Glassdoor. This makes it easy for anyone to know what their peers are making. If you think you are making less than your peers despite putting in the same effort or time, it's time to ask for a raise.

Track What Others are Offering

Whenever you get an opportunity to talk to a recruiter about potential job opportunities, you should ask what they offer (salary and benefits), even if you don't want to accept a new job. It will help you to negotiate the salary with your current employer.

Industry Matters

Which industry you are working for also matters. There is a high demand for accounting, finance, engineering, and technical departments at the moment. So, if your job or skills are in demand, you should ask for a raise.

How to Ask for a Raise?

Highlight Your Skills

Though labor market conditions and inflation matter a lot when asking for a raise, you should ensure that you also highlight your efforts and achievements when asking for a raise. If possible, quantify your achievements and present the employer with hard facts.

Consider Perks

In case your company cannot offer you a raise, you can accommodate them and ask them to enhance your benefits instead. The benefits vary from higher insurance coverage to flexible work hours.

Remember the Financial Position of the Company

It is also essential to get an idea of the company's financial position. Don't expect a raise when the company faces losses or is in trouble as it might appear to the employer that you are quite selfish.

Ask for Guidance

If someone in your company or department has asked for and got a raise, you should ask them for guidance. They might share some useful tips with you.

Follow Up

If you have talked to the higher-ups about a raise and haven't gotten a response until now, you might need to follow up with them. It might have slipped their mind. A gentle reminder can work wonders.


Previous Post Next Post