Asking for a raise in salary at work is like treading up a slippery slope. If one doesn’t step at the right spot at the right moment, one might end up slipping down all the way to the bottom. Although, if one steps forward on a peel, the fall might be even harder and painful. Therefore, asking for a raise is always dicey and one needs to be tactful in approaching the boss for a raise. Here is a list of top 10 reasons to ask for a salary raise:

Company’s profits

Keep a close track of the profits that the company has made during the past year, and assess your contribution to it. Bosses are more likely to agree to raise the salary, provided one’s contributions are significant.

Tip: Keep your boss updated about your contributions towards the company and its progress.

Strong relationship with clients:

Most organizations work on the simple mantra, “the more business you get to the company, the higher will be your position and salary.” Thus, more the number of clients better are the profits for the company and ultimately, higher are the chances of getting a raise.

Higher Educational Qualification:

Often, people with higher educational qualifications are a paid better than the graduates, freshly out of college. Thus, if one has earned a higher degree of qualification, he might be eligible for a better post and consequently a better annual salary package.

Shouldering more load:

If one feels that one is shouldering more work than listed under his job profile, he may be entitled to a raise in salary.

Accomplishment of Goals

Have you fulfilled your target successfully? In lesser number of hours than expected? If yes, then it may be the right time to ask for a raise in salary.

Overtime:

Is the work assigned to you taking longer than your usual work routine? Is it compelling you to work beyond your working hours? Then, it may be time to ask for a better pay package.

Tip: Finish the assigned work satisfactorily, before asking for the raise.

7. Perform a Market Research:

Ask your colleagues about their salaries and job profiles or simply browse and access the information over the internet; Compare them with your present job profile and salary. If you feel that your salary is not good enough for the kind of work you perform, request for a raise.  

Work Experience:

Today, work experience outweighs most certifications. Therefore, more real-life work experience accounts for a better pay. 

Flourishing Economy:

If you feel that the economy is flourishing and the company is making huge profits, then it may be time for you to request for a raise in salary.

Skill set:

If one feels that his working potential and skill set have not been fully utilized, one may ask for more responsibility at work. This would also entitle them to claim a higher salary.

Tip: Remember the saying, “First deserve, and then Desire”.
Finally, ask for a salary raise in a business oriented manner, rather than focusing on personal expenditure. Also, avoid giving ultimatums or else one might be fired or downsized right away. Approach cautiously and smartly.