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MarketScreener Homepage  >  Equities  >  Nyse  >  Robert Half International, Inc    RHI

ROBERT HALF INTERNATIONAL, INC

(RHI)
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Robert Half International : How to Write a Letter Asking For a Raise

11/02/2020 | 06:15pm EST

Asking your employer for more money isn't easy, even when you know you deserve it. If you knocked it out of the park over the past year, took on more responsibilities or received a stellar performance review, it's smart to talk to your manager about a pay increase.

As a specialized staffing agency, we can help you find a new job. But if what you want is more money at the job you have - and you're not sure how to start the conversation, your best bet may be to put your request in a letter asking for a raise.

Here are some examples of what you could write in an email asking for a raise along with tips to help you develop confidence about the message you want to send.

1. Do your salary research

You're not going to get very far if the amount you ask for is not in line with the realities of today's job market. Completing your own comprehensive research will help you understand what a competitive wage is for someone in your position and geographic location. To find out, consult the 2021 Robert Half Salary Guides, which break down starting pay ranges for hundreds of positions across numerous professional fields.

Researching the numbers will also demonstrate to your boss that your salary request is backed by real data versus your own subjective opinion.

2. Pick the right time

One of the first steps in knowing how to ask for a raise is identifying the best time in your company's cycle to have the discussion. Does your company have a policy of granting pay raises only during performance review periods? Check your employee handbook for guidelines. In some cases, it won't matter. But in others, it can be crucial.

Consider also whether your organization has had recent layoffs or a hiring freeze. The economic effects of the COVID-19 pandemic have affected many businesses. If you bring up your pay when your company has just furloughed employees or is seeing reduced revenues, your appeal is likely to go nowhere fast, regardless of how amazing you are.

3. Make the request

When you've researched your salary range and chosen a good time to broach the subject, make the ask. Email your manager and explain that you'd like to connect to review your compensation. Outline your impact clearly and concisely. Prepare compelling bullet points that convey exactly how you've excelled in your current role.

Don't mention what your coworkers make or any personal reasons you might have for needing more money.

Next in the letter, ask to meet with your manager to discuss the salary you're seeking. If this is the first time your boss hears you want more money, set the stage appropriately. You might consider a sentence or two in an email, such as this: Could we have a short discussion to review my salary or devote a few minutes to that topic during our next one-on-one video meeting?

If you have a performance review coming up, it's a good idea to ask ahead of time: Would it be OK if we discussed my compensation during my performance review?

And if you have already expressed the desire for an increase, you should go ahead and share it either as a percentage or as a dollar amount. Your email might include a line like this: We've discussed my wish for additional pay, and after some research, I'd like to request a salary increase of X percent.

4. Back it up

In a longer letter asking for a raise, provide context to explain how you landed on the salary figure you are providing. Numbers are convincing, so use them in the descriptions of your accomplishments: money saved, revenue earned, services improved, responsibilities taken on.

Just as you did in your salary negotiations when you interviewed for the job, your request should reflect the value you bring to the role, goals you've met or exceeded, results you have delivered, and industry averages based on your job skills and years of experience. It's easier to put nerves aside when you feel ready to answer hard questions about why you deserve an increase.

5. Offer appreciation for the consideration

Remember to thank your manager for supporting you in your role and for considering your request.

After you hit send, be patient. Your manager may need to talk to a higher-up or HR before getting back to you. Those conversations and the resulting negotiations can take time.

Again, no matter the response you ultimately receive to your request, make sure to thank your manager for allowing you to express yourself - even if you don't get what you were looking for. Seek clarity on what would be required for a future salary discussion, and set a time to check in again. Negotiating is a process. Putting your request in writing is likely just the first step, but if you make the ask, it can pay dividends.

Sample template of a letter asking for a raise

Dear (Name),

As my X-year anniversary gets close, I would like to formally request a review of my salary for my work as a (job title). During my time at (name of company), I have taken on additional responsibilities and have achieved success in several areas. I've made a brief list of just some of my accomplishments and responsibilities, which include the following:

  • Taking the lead on …
  • Meeting goals in …
  • Improving efficiencies that led to a savings of $X for the company ...
  • Achieving success in …
  • Adding to my (skill level or education as it relates to the job) …

Aside from my X skills in this role, I have also demonstrated excellent X abilities and proficiency with X. The staff can count on me for X.

I enjoy my work here and appreciate the support you and the team have shown me. Given the added value I have brought the company, I think it is fair to request a bump in pay. Based on the research in the Robert Half Salary Guide, I've found that the midpoint salary (or median national salary) for this position is $X for my experience level. Considering regional variances, an X percent raise would put my compensation closer to those salary benchmarks.

Thank you for your consideration. I am willing to work with you to accommodate my request, taking into account what is best for the company. Please let me know if you are available for a short meeting.

Sincerely,

Name

Disclaimer

RHI - Robert Half International Inc. published this content on 02 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 November 2020 23:14:05 UTC


© Publicnow 2020
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Financials (USD)
Sales 2020 5 057 M - -
Net income 2020 289 M - -
Net cash 2020 444 M - -
P/E ratio 2020 26,8x
Yield 2020 2,00%
Capitalization 7 664 M 7 664 M -
EV / Sales 2020 1,43x
EV / Sales 2021 1,31x
Nbr of Employees 16 000
Free-Float 96,9%
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Technical analysis trends ROBERT HALF INTERNATIONAL, INC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 13
Average target price 61,18 $
Last Close Price 68,31 $
Spread / Highest target 49,3%
Spread / Average Target -10,4%
Spread / Lowest Target -38,5%
EPS Revisions
Managers and Directors
NameTitle
Michael Keith Waddell Vice Chairman, President & Chief Executive Officer
Harold M. Messmer Executive Chairman
Michael Cornelius Buckley Chief Financial Officer & Executive Vice President
James C. Johnson Chief Technology Officer & Senior Vice President
Colin S. Mooney Chief Digital Officer & Senior Vice President
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