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Is is possible to ask for a raise just based on what I’ve seen on the market ? This past months many firms have contacted me and total comp is higher in general (for the same industry). Or do I need to have an offer letter in order to ask for the raise ?

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Posting as :
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The best way would be to get an offer letter and present it to your employer.

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I think it depends. Have you had a conversation with your manager? Are you ready to leave if they don’t give you money? Are you looking to leave just because of the money?

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Disagree with Devops ^

Have a discussion with your manager about a market rate adjustment. Set some time to chat with manager privately, and T his would be the approach: “I love working here because XYZ and I’d love to continue growing my career here, so I’d like to discuss adjusting my salary to match the current market rate”. Depending on company values and your own performance, you can follow with any other points that demonstrate your value IN THE MARKET. If possible, you want to avoid this becoming a merit increase. You want to negotiate up to market rate, THEN when it’s time for merit increases, you will actually get a raise and not just a rise to the current market rate.

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Not at all. I’d recommend

1/ track on your goals, OKRs, metrics, whatever you use to measure your achievements and wins. Quantify these metrics in terms of ROI or value-added

2/ start having performance meetings with your manager, make sure you are crystal clear on what they need to see you achieving to consider you for either a new role or pay bump.

3/ take that data back, make sure your ‘stats’ line up with what you’ve done (if not, work on bringing in those results).

4/ follow up, demonstrate how you’ve added value, improved results, boosted ROI, whatever, then try to lead into a conversation about boosting comp. Show it as a way of saying “by paying me more the company 1) makes more or 2) saves more”

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1. See what the market is offering. Given how hot the market is, you have a potential of getting 30-40% increase.

2. If you get any offer, take it to your employer. The employers would usually match a 10-15% jump (best case), but anything above 30%, they might not be able to match.

All depends on what your goal is. If it’s the money, then find an offer, get a good jump and leave.

If you want to stay and just need a small bump, then first have a conversation with your manager and ask the company what they can do. See if that % increase is enough for you. If not, find something outside.

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Agree with Project Manager 1. It’s a process.

In the free career app I’m building we share an. Advancement process, which gets you self advocating more and starts the conversation.

Asking for more pay is very common right now. If you try, you will learn a lot about your organization and expectations.

www.cheaseed.com it’s free

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Yes, its possible. You can gather info and data and then present your case as to why you deserve a raise. You can really do that at any point in time.

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