Need a Raise? Tips for Asking the Boss

Here's a piece courtesy of ARA Content on how to ask for a raise.

It’s that time. You’ve worked hard, proven yourself and in your mind, you deserve a pay increase. So what now?

“Ask anyone and they’ll tell you they are worth more than what they earn,” says Dr. Andy Ghillyer, vice president of Academic Affairs for Argosy University’s Tampa Campus. “Asking for a raise should be a four step process. Approach it by defining what you want to ask for and then measuring where you are at compared to the industry and/or your profession. The next step is to review your past salary increases to set a realistic expectation. Finally, implement your plan and make plans to follow-up.”

“The first thing that employees need to do is set an appointment with their supervisor to meet somewhere without interruptions,” says Marc Scoleri, director of Career Services at The Art Institute of New York City. Scoleri notes that often times, employees get so worked up about actually asking for a raise that they delay actually setting the meeting. “Get on the calendar early and be prepared for a potential cancellation or move in date/time,” says Scoleri.

Before going in for the “big meeting,” research the industry average of your salary for your position in your location. There are several resources to do this on the Internet such as www.salary.com. For example, the cost of living in New York City will be higher than in Tampa, Fla. The average salary for the same position should be higher in NYC. “Bringing the average salary information from your research to negotiate can be a helpful visual if you are making below the average amount identified by the research, so it is important to research before negotiating,” says Scoleri.

“Explain that you are very happy with your current role and briefly mention your achievements and ask if he/she is open to considering an increase in your compensation,” says Scoleri. If the answer is yes, provide your research. It is always ideal to have a list of accomplishments you recently achieved over and above your normal job duties.

One example includes implementing a new initiative that has a measurable impact for improving customer service, safety, net income or efficiency. Come in prepared to demonstrate that your contribution has gone above and beyond what was written on the job description back when you started. Let your boss know you do not expect an answer today, which will help because most likely he/she will not be able to immediately give you that additional 5 percent or bonus on the spot.

Always shoot a little higher than needed and be willing to take other compensation such as vacation days, incentives or one-time bonus for superior performance. Scoleri says, “If your supervisor says no, ask what it would take for future consideration, listen and take appropriate actions to prove you are an asset.”

“One question that many people have is when is a good time to ask for a raise,” says Dr. Ghillyer. “Know your company’s budget cycle. Don’t ask in the middle of the budget year. Chances are slim. You have to time your move.”

Another good time to ask is when you have an offer letter from another employer to use as leverage, but don’t use the ‘other offer’ card unless you are given no other option -- you may win this round, but you don’t want your boss holding a grudge for being ‘blackmailed’ into the raise. Negotiate before you are hired into a new position for additional vacation days or lump sum bonuses if the company states they have a maximum percentage for raises.

The last thing to remember is that there is no need to be nervous. Go in confident, but don’t go in too overconfident that you set your self up for a let down. Make your case and prove your worth by demonstrating your accomplishments and explaining why the company should reach a little deeper into their pockets for your performance. We all need a raise. Good luck.

Comments

[shadox]

it's all about being prepared and knowing what your market value really is. A great place to start is salary.com or talking to some headhunters to get a sense of what your position could fetch in another company.

You should also be aware that companies in different industries pay differently, as do companies of different sizes and parts of the country. Be reasonable, but fight to be paid what you are worth.