I've been with my company for almost a year now so pay review should be coming up. However, I know my boss will most likely avoid it. He promised during my interview that after passing probation my salary would increase, yet after the 6 month probation he refused to citing lack of funds.
We're a startup and last month we received a large investment, the company is splashing out on marketing, refurbishments, new hires and events. I'm thinking of requesting a pay review next month.
I want a raise for a number of reasons:
- I have worked very hard for this company and proved myself
- more money is obviously nice
- I'm more valuable to the company now than a year ago since I've learnt their systems
But I also need a raise because of my financial situation. I have repayments on a loan which will take 9 months to pay off. Each month I'll be paying back roughly half my wage to do this. This leaves me with very little money to pay for rent, bills, travel, food etc.
My question is what is a better reason for requesting a raise?
Should I mention both why I need and want a raise? or is it weak/bad to say I need a raise?
If my request is refused I will have no other option than to go out and find a higher paying job, I have checked the market and I'm certain I could secure a role which pays at least $12,000 more which would resolve my problem.