August 22nd, 2011

How to Successfully Ask for a Raise

If it’s been a long time since your last promotion or raise, it might be time for you to speak up and ask for that raise. Here are some approaches you may want to consider when planning how you’ll ask for your raise.

The direct approach –Your salary may be on your mind a lot when you feel that you are not getting paid enough, but unless you talk with your boss, he or she may have no idea that you are unhappy with your compensation. Although direct, you need to make sure you approach your boss strategically. Set a time to meet with your boss in private, hopefully a time when you know he is not burdened with urgent deadlines or other major stressors. Explain to your boss why you feel you deserve a raise based on concrete examples of your excellent work and projects you have completed that may have helped your company operate more efficiently, make more money or save money. Asking for a raise due to personal reasons such as a mortgage you can’t pay is generally not a good idea. You might be able to pull on his heartstrings if you’re lucky, but otherwise it can backfire by giving him extra concern that your personal problems may be affecting your job performance.

The threatening approach – It is not uncommon for employees to look for a new job while still employed. Once you have a solid offer from another employer you now have a bargaining chip you can use against your boss. If you provide real value to your company, they often will be willing to match the pay the other employer is offering you. While this approach can be successful for some in getting a raise, there is definitely a high risk involved. You need to be prepared to leave your current job and take that job offer, so make sure that job offer does in fact look appealing to you.

The indirect approach – If you know you’re boss won’t budge on your salary or you’ve already tried asking for the pay increase, you may want to consider getting your raise in a more indirect way, which in the long run may benefit you more than a small raise anyway. Asking for changes in your benefits such as additional medical coverage, vacation, flexible hours or larger performance-based raises can benefit you without costing your boss as much as a raise may cost.

The future raise approach – Most bosses are willing to give their employee’s a raise if they can show that they are able to bring enough value to their department or company to warrant the raise. Sit down with your boss and discuss what he would want to see from you to get that promotion or raise you’ve been wanting. If you have some great ideas or projects in mind that could benefit your employer a lot, this would be a good time to bring them up. If you can, map out a plan of action with your boss with specific goals and time frames that he would like to see in order for you to get the raise.

It is common to bring up a raise during a performance review, but if that isn’t possible, think about your timing. Bringing up a raise right after completing a successful project would be a good idea. Also, just like any form of negotiation, remember to handle the situation with finesse and be well prepared ahead of time. Presenting your case to your boss in a clear and compelling manner will increase your chances of getting that raise dramatically.

Originally posted here 

About the Author

Socialtik Mag
Socialtik Mag is a progressive platform for young, aspiring professionals to express our views on the issues and ideas in the world around us. It’s the Gen-Y perspective of life in the new decade. In addition to the original content we produce, we post from sites around the internet to keep our peers aware of what’s positive, what’s fresh, and most importantly, what’s progressive.



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