How to ask for a salary increment?

Schedule an appointment

Don't storm into the boss' room with an ad-hoc request for a raise. Plan an appointment and have a strategy. Speak to trusted colleagues, friends and people from the industry and get some information on what a normal raise is for someone with your profile and experience. Also take your boss's mood into account.

Write a note to your boss without stating the precise reason for the meeting. Say it is to discuss a personal matter, to discuss your development or present an idea. If you say you want to ask for an increment, your boss is likely to say 'No' on the spot. Here is a sample note you could send to fix an appointment:

Dear Sir,
Could we meet for 30 minutes anytime this week to discuss my role and development? I would appreciate your advice. Please give me a time and date that suits you.
Sincerely,
Nikhil

Make a list of accomplishments

Create a list of accomplishments that are quantifiable and specific. For instance: 'Achieved 110 per cent of the sale target, managed the largest customer base of 130 high net worth customers in the sales region, supervised a team of 15 with a retention rate of 100 per cent.' Use words such as 'first', 'best in class', 'highest' and 'excellent'. Bring some supporting documents to the meeting, like an excel sheet that highlights your key accomplishments. Bosses like results, so be specific and detailed.

Forward-looking approach

No boss will entertain a request of paying you more for doing the same job. A smart way is to ask for increased responsibilities and tasks and link this to a salary raise either right away or in the long term. You can also create a 'pay for performance' system with your boss, where you get rewarded for the extra value you bring to the company over and above your main responsibilities.

Don't walk out with an empty plate

Give your boss/management a choice. The choice has to be between something and something else, not between something and nothing. If the company is in cost-cutting mode, consider other perks that you may be able to negotiate for in the short-term to compensate for the lack of money.

Send a follow-up note
After the meeting, send a note thanking your boss for his or her time and reinforcing the value you bring to the organisation. Also use this note to summarise the meeting, so your boss has some valid documentation.

Here's a sample note:

Dear Sir,
Thank you for reviewing my responsibilities, role and salary at our meeting today. I believe I should receive a raise based on the following reasons: (List the reasons, presented as three to four bullet points)
I would be happy to provide details on any of the above accomplishments. I am very positive about my job and the future of the organisation and am willing to take on increased responsibilities. I am committed to contributing to the company's success in the future.
Looking forward to hearing from you.

Sincerely,
Nikhil

Remember, as long as you provide value to your organisation and they are doing fairly well financially, you have every reason to ask for a raise.