Asking for a raise higher than the pre-allocated one

Question

My contract states that my salary in the following year will be X, which is a ~6% monthly increase from the current one. When the time comes to renew the contract (which is shortly from now), I want to ask for a higher raise than the one stated.

The work environment is relaxed and I have a good relationship with my supervisor. I've done well on the tasks I've had, but it's not like I've made any breakthroughs that will lift the company up. Up until now I haven't had any tasks where I was pressured on the deadline. However, I'm about to take over a project where I was working solo on. The future of this project looks promising for the company.

Are there any drawbacks to asking for a higher salary when the renewal of the contract comes?

Answer 1

You should always negotiate your compensation if you feel you are being underpaid. The worst that can reasonably happen is your employer offering what you have already agreed to (in your case, the 6% raise).

You can maximize your chances of improving your raise if you:

1. Have a specific level of compensation ready when you approach your manager. E.g., "Next year, I'm looking for $_____ in salary."
2. Provide a clear reason why your previous compensation is no longer appropriate. E.g., "My responsibilities have substantially grown since I started." or "Raises for my role at other companies tend to be __%."
3. Know what you would accept if offered. Don't push a negotiation to the point of being inflexible and uncooperative. If your employer makes a counter-offer, know ahead of time what level of compensation you would be excited to receive, even if less than your initial request. Think about alternatives to cash compensation as well (e.g., more time off).

Good luck in the discussion!