Requesting a Raise After Graduation
Hi everyone, I’m looking for some guidance on how to approach asking for a raise. I’ve been with my company for two years now, starting right after completing my bachelor’s degree. I’m set to finish my Master’s in Managerial Accounting this August, and I recently received a promotion with a pay increase just a month ago.
Even though it hasn’t been long since my last raise, I had always planned to negotiate for another increase upon graduation. I’m feeling a bit anxious about the conversation, as I tend to shy away from confrontations. However, I genuinely enjoy my current role as a Fund Accountant 2 in this relaxed work environment, and I’d much prefer to negotiate a raise rather than seeking a new job for better pay.
One thing to consider is that I’m bound to stay with my company until January due to a tuition assistance program; otherwise, I would need to repay that assistance. After that, I’m free to explore other opportunities if necessary.
My annual raise is typically 3.25%, and my recent promotion gave me a 9.75% increase, which makes me hesitant to bring this up so soon. Any advice on how to approach this discussion would be greatly appreciated. Thank you!
One response
It’s great to hear that you’ve been working hard and furthering your education alongside your job! Here are some tips on how to approach asking for a raise after you finish your Master’s degree:
Timing is Key: While it’s understandable to want to address this sooner rather than later, consider timing your request to allow for the completion of your degree. This way, you can present your advanced qualifications confidently.
Highlight Your Contributions: Prepare a list of your accomplishments in the past two years, particularly focusing on any measurable impact you’ve had in your role as a Fund Accountant 2. Be ready to discuss how your contributions have positively affected the team or the company.
Link Your Education to Value: Emphasize how your Master’s in Managerial Accounting and your plans to obtain the CMA will add value to your role and the organization. Make sure to explain how these qualifications can benefit the company in the long run.
Research Industry Standards: Look into salary ranges for similar positions in your industry and location, particularly for individuals with advanced degrees. This information can support your case for a raise and demonstrate that you’re informed about your worth in the market.
Prepare for the Conversation: Practice how you’ll present your case. Be clear and concise, focusing on the value you bring to the team rather than making it about needing more money. Be open to feedback and willing to listen to your manager’s perspective.
Consider Your Company’s Policies: Since you recently received a promotion and increase, be prepared for the fact that your company may have policies or norms around frequency and amount of raises. If they seem hesitant due to this, consider asking about what future criteria could warrant a raise sooner.
Be Open to Negotiation: If your company isn’t ready to give you a raise right now, you could negotiate for non-monetary benefits, such as professional development opportunities or additional responsibilities that could lead to a raise in the future.
Follow-Up: If the conversation doesn’t lead to an immediate decision, respectfully ask when you could follow up about your request. This will help keep the conversation alive and show your commitment.
Remember, it’s completely normal to be nervous about these kinds of conversations, but advocating for your worth is an important part of your career growth! Good luck!