UPDATE: Our new RaiseMe Report tells you what raise you should ask for in your salary discussions with your company.
Sometimes it’s necessary to write a salary increase letter to clarify your position to your manager or HR Rep and ask for a raise or salary increment (higher pay). While we at SpringRaise recommend you do as much negotiation as possible in person, a salary increase letter can be a powerful way to justify your request for more money. Now let’s look at a winning format that gives you the best chance of getting that salary increase you deserve and then we’ll quantify why you should write a salary increase letter.
Key Salary Increase and Negotiation Steps
There are steps you must follow in salary negotiation that will better position you to get paid what you want and deserve.
- Know how your salary compares to others doing similar jobs. There are many ways to accomplish this which we discuss in detail in our salary increase guide, SpringRaise Your Salary: How to “spring” your salary to change your life.
- Understand what data you need to convince the company that you’re worth the money you want. Certain pieces of data compel employers not only to consider your request for more money, but in good faith, to actually accept it.
Winning Format – Salary Increase Letter
Here’s a winning format for your salary increase letter–also known as a salary increment letter (if you want a FREE sample, just fill out the form below with the subject “Increase” and a brief description of why you want to write a letter and we’ll send the sample right away).
1. Introduction. You need to create an introductory paragraph that gives your manager or HR reps a clear view that you are asking for a raise or pay increase and that you will justify why you should receive it in the balance of the letter.
2. Pick two projects that show how you’ve performed superior to your peers and then provide key detail on each one.
3. Summarize your request and explicitly ask for the increase and the amount that you want. Reiterate your superior accomplishments and welcome a conversation with the managers.
This all might seem like a lot, but it’s necessary. Your max submission should be two pages. Our salary increase guide entitled, “SpringRaise Your Salary” provides not only sample salary increase letters in the winning format, but shows you what exact data you need to have to maximize your chances of getting your raise. These techniques aren’t just good for now, but for every potential raise or promotion in your future.
Why Write a Salary Increase Letter?
Let’s say you don’t negotiate and get paid $5,000 less than you could have gotten had you asked for a raise. If you’re a strong performer, at next raise time, you may have gotten 10%. So you made $45,000 per year instead of $50,000. Instead of getting a $5,000 raise next year, you got $4,500. You lose not only the $5,000 from the first year, but $500 next year. Imagine you stay on the 10% increase path for 5 years. You will have lost over $33,000 in total because you didn’t negotiate for that initial $5,000 you deserved. Don’t let that happen. Our salary increase guide shows you how to avoid this pitfall and others to get the highest raises today and throughout the rest of your career. Check it out!
So have confidence and don’t be afraid to actually walk away if the salary isn’t right. If you must, look for another job, even in this economy.
FREE Sample Salary Increase Letters: If you would like FREE sample salary negotiation letters, just fill out the form with the subject “SIL” and we’ll send you your samples right away.