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How can I recieve an increase in pay within five years after starting my career?

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Andrea’s Answer

Hi!

5 years with any company is impressive. According to TheBalanceCareers (click link), there are ways to go about requesting a raise after a period of time.

My previous roles have afforded me an opportunity to learn how to best approach specific people, based on personality and mood. Asking for a raise is sometimes a daunting task but I always made it a priority to build a close trusting relationship with my manager in order to gauge their personality type.

With that , you should know how to best approach your manager with any request.

Andrea recommends the following next steps:

Prepare the details; everything you have learned within the time frame. Itemize it and brainstorm on what you can disclose in the most efficient way.
Re-vamp your resume; this will allow you put updated information that reflects work experience to be considered. Take off any outdated details past 5 years prior to your current job.
Request time to speak with your boss; schedule a 30-min 'follow-up' and use that opportunity to let your boss that you are dedicated to your work and that you believe you should be considered for a raise and/or promotion.
Take a deep breath and pat yourself on the back. Nothing is better than giving it a good try! Best of luck!
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Simone’s Answer

Hi Dyllon,

I would say that in the modern economy, you can probably expect to receive a pay raise earlier than 5 years, depending on what field you're in. However, as Andrea mentioned, you will need to take steps to make that happen.

Firstly, you want to make sure you're meeting and exceeding the expectations your manager has for you. To understand what those expectations are, you want to sit down and have a focused conversation with your manager about their expectations. Write down what they say and have them approve it, then make sure to talk about when you will be checking in on your progress and sharing feedback. You should always know where you stand with your manager and get regular feedback.

As you move through your work, make sure you share big achievements and breakthroughs with your manager so they always have the details of how you're doing. It's also ok to share failures or learnings with your manager because things won't always go perfectly. Failing, learning from your mistakes, and doing better next time are also important aspects of moving forward at work and will be taken into consideration when you're up for promotion.

Next, you will want to follow Andrea's tips for asking for a raise. After about a year (sometimes less, sometimes more) you want to talk to your manager about a promotion and pay raise, if you've been exceeding the expectations you set out with your manager. Negotiating is hard and it won't always work but you MUST try.

Best of luck! Remember to be curious, be willing to lend a helping hand, be accountable, stay professional, and GO GET 'EM!

Simone recommends the following next steps:

Learn how to set expectations with your manager: https://www.linkedin.com/pulse/14-simple-expectations-great-employees-have-boss-bernard-marr/
Prepare for a review with your boss: https://www.themuse.com/advice/6-phrases-you-should-have-in-your-back-pocket-if-you-want-to-ace-your-performance-review
Negotiate for a raise: https://www.cio.com/article/2438603/careers-staffing-10-mistakes-to-avoid-when-negotiating-a-raise.html
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