You Want a Raise?!!! Say What?!! Well, Here’s How To Ask For One!
In this day and age, many think that you’re lucky to have a job. So, to think that you could get a raise in this economy is preposterous. However, there are professionals out here who are getting raises, in spite of the challenging economy. Money certainly isn’t as plentiful as it used to be, but there’s still enough for a select few to squeeze a dollar or two. Asking for a raise takes guts. And, if you’ve got the guts, you’ve got to employ the right strategy to get what you want.
Knowledge is Power. The first step in claiming those extra dollars is to equip yourself with the information that will help you build your bargaining power. Knowing your worth is imperative during any salary negotiation process. Knowing your market value will help you form a realistic expectation for the outcome of your request. You can read my post, “How Much Are You Worth”, to help figure out how much you’re worth. Knowing how much your company pays for your type of position is also helpful. Some companies and government organizations openly provide this information. You can also find company pay information on sites like Glassdoor. If you’re already being paid higher than the rest of your colleagues or even higher than the average pay for your position, a raise may be a hard sell. Lastly, you should know your company’s financial standing. If your company is struggling financially, now probably isn’t the best time to ask for a raise.
Create Your Arsenal Of Accomplishments. Your accomplishments will help you strengthen your argument for your raise. Money doesn’t grow on trees. You’ve got to be able to show that you’ve earned the money. Your accomplishments will help you do this. The best time to ask for a raise is after you’ve recently completed a key project, brought in key clients, solved a major problem or accomplished something that added significant value to your organization. If you’ve messed up or failed to achieve some performance goals at your job lately, forget it. Now isn’t the time to ask for a raise. You should be focusing on building your arsenal of accomplishments that will help you convince your boss that you’re worthy of a raise.
Create Your Pitch. That’s right, you’re selling yourself! You’re selling your boss on the idea of giving you more money. So, you need to create a sales pitch. Stay away from personal stuff when creating your pitch. The fact that times are hard for you and you’re having difficulties covering your bills will not convince your boss that a raise is warranted. Instead, stick to the facts. Focus on your accomplishments, the value that you bring to the organization, and knowledge that you’ve equipped yourself with (i.e. your worth, company pay information, company financial standing). They key is to not throw your employer on the defensive. So, avoid starting out by saying, “I don’t think that you’re paying me enough.” Instead, you might start the conversation by saying, “Over the past year, we’ve achieved several objectives that were set for our organization and I’ve played a vital role in achieving those goals.”
Be Prepared for Acceptance or Rejection. The best case scenario is that your request is accepted. That’s easy! It’s time to celebrate. If your request is rejected, ask your boss what you need to do to position yourself for a future celebration. All hope is not lost because you didn’t get what you asked for. If asked the right way, your conversation can start the dialogue for future positive conversations and positively affect your pay in the future.
Check out my latest WCIA Morning News Show appearance where I give tips on how to ask for a raise!