Six Steps to Set Yourself Up For a Raise

As you probably know, I'm a sucker for any article on how to get a raise. So I HAVE to post on this one from Yahoo -- a list of six steps to set yourself up for a raise. Their steps with comments from me:

1. Define Your Current Job. The first step in setting yourself up for a raise is to establish a baseline or benchmark by finding and updating your job description.

It's hard to meet (or hopefully exceed) expectations if you don't know what's expected. In addition, many people have a different view of what they're supposed to do than what their boss thinks they're supposed to do. Having an agreed upon job description solves both of these issues.

2. Track Your Progress. Each time you complete a task or reach a specific goal, record what you have done.

I do this by writing a weekly update. I let my boss know what I've been up to and send a copy to myself as well that I file in a folder. This way, I don't forget any job-related accomplishments.

3. Discuss Your Upcoming Review. As review time draws near, take the initiative and set up a meeting with your boss. Let your employer know you are invested in your future at the company and prepared to discuss it. This will also give your employer the opportunity to evaluate the work you have been doing up to this point.

FMF readers generally agree with this advice (and with me). We just discussed it not too long ago while helping a reader ask for a raise.

4. Do Your Research. Especially useful is Salary.com's Salary Wizard.

Knowing what others doing your type of job in your city is critical. This way, you'll know where you stand in comparison and can make an easy case for a raise if you're a good performer who is under-paid relative to similar employees.

5. Frame Your Pitch. When you sit down for your performance review, you can use all the information you have gathered and records you have kept to illustrate both your past work and future potential.

Keys to success here: stick to the facts (salary data and your performance) and don't get emotional. In most organizations, an individual who is doing an above average job and is getting paid at or below average can get a decent raise with a simple, clear, reasoned presentation of the facts. A couple other points:

• If you are already paid well and/or aren't a good performer, don't expect to get a raise (why should you?).

• If you do deserve a raise but they refuse, you can always consider employment elsewhere (or even negotiate non-financial compensation like more vacation days.)

6. Start Again. During your review, be sure to speak to your employer about his or her goals for your future at the company. Discuss a timeline for these goals. Now you are prepared to set yourself up for next year's raise.

As I said in How to Ask for a Raise:

When you do receive that raise, however, don’t rest on your laurels. Prove to your boss and your company that they made the right decision by staying professional, helping the company financially and creating value. Such initiatives will pay off—and help your career—toward a richer tomorrow.

For more thoughts on this topic, see these posts:

• How to Succeed in Your Career

• How to Be Successful at Your Job

• Five Keys to Increasing Your Pay

• How to Hunt for a Job Without Letting Your Current Employer Know You're Doing So

Comments

[Uri]

And how do you get a raise when your employer has declared that there will be no raises this year?

[FMF]

Uri --

Have you done all the other steps/meet all the criteria? In particular, do you make a below average salary for your job and you're an excellent worker (and this can be documented/shown by examples)?

[Kevin]

Uri - interview with a similar company and present their offer to your current employer and ask them to match. Just be prepared to walk if they don't.

wht to do if the raise is grouped i.e. the performance is grouped? in this case even if i'm doing my best, my increment tied down because of others.