how-to ask for a rise
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How To Ask For A Pay Raise
Posted: November 22, 2010 10:00AM by Fabulously Broke
Fi led Under: Careers
Many people get nervous when they head into a year-end review meeting, especially if they are about to askfor a raise. For those of us who don't like to talk aboutourselves and find it to be a daunting task, here aresome helpful tips to keep in mind. (For a relatedreading, see The Toughest Corporate Ladders To
Climb.)
IN PICTURES: 6 Hot Careers With Lots Of JobsDO your researchMake a list of every major accomplishment from last year's review, with noteson how you've improved, to help back up your request for a raise, and comeprepared with specifics about what you want in terms of a raise. If you'refamiliar enough with your colleagues, ask them to candidly to give you a rangeof what they think someone in your role should be paid; the beauty of thisquestion is you aren't asking them to tell you what they earn and you aren'tdisclosing your personal information either. If you are uncomfortable with sucha direct approach, use websites like Payscale.com.
DON'T ask for a raise if you d on't deserve itMany employees fall into the trap of thinking that yearly raises shouldautomatically be given to account for the rise in cost of living and inflation, butif you know you haven't been an outstanding performer this year, then treadcarefully when asking for more money. You may get it or you may end up withegg on your face, which may not sit too well with management.
IN PICTURES: Dealing With 9 Co-worker Personality Conflicts
DO take into account the company's financial situationCompanies these days are going to be shy about promising more money to theiremployees, especially if they're worried about what the next year will bring, or if they are in a dying industry. If your company is holding steady, but is notseeing a lot of increased business, or management has been laying off yourcolleagues, perhaps this year is not the best year to ask for more money. (Formore, check out 6 Sectors That Are Creating Jobs.)
DON'T let your company defer your raises indefinitelySome companies may employ more aggressive strategies, where they look likethey're listening by promising to look into a raise, but ultimately they alwaysdefer your request for "later review." If this has been going on for many years,but your company is growing by the day, there comes a time when you shouldconsider that maybe you'd be better appreciated elsewhere. If you do find andsecure employment elsewhere, you may find that before you leave you'll beoffered all the raises you had been asking for and more. Use your good
judgment with this tip, because everyone's situation is different. (For more, see8 Reasons To Tough Out Your Job.)
DO be open mindedAsking for only a monetary raise is not the only item on the negotiating table.Did you know that you can also ask for more vacation days, special perks suchas getting certain work-related expenses paid, or even asking for a flexibleworkweek? If it will be a good fit with your job responsibilities, ask for a four-day work week or a late start to your day so you can drop your children off atschool in the morning. These are all extra perks of a job that can make you ahappier employee, which is what every company wants.
DON'T be greedyAsking for a 10% raise, an extra week of vacation and to be able to work athome for four days a week might be pushing the envelope a bit. Keep in mindthat if you ask for an extra week of vacation, you can see it as an indirect raise,because if you are paid $40,000 net a year, based on a 50-week year, assuming2 weeks of vacation, each week of extra paid vacation is an $800 "raise."
DO be presentableConsider looking a little bit nicer for your year-end review. In fact, considerdoing this for every day you come in to work, because like it or not,appearances matter. Unless you're a genius and the company wouldn't exist
without you, showing up in a black turtleneck and jeans à la Steve Jobs of Apple, even if your company allows it, may not mean your manager likes it.There's no need to wear a suit to your year-end review, but people do recognizeand appreciate the effort. (Learn more in Dating And Job Hunting: The SameSkills Apply.)
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DON'T treat it like any other dayPractice beforehand, psych yourself up in the morning, go for an invigoratingworkout or relax with some yoga, and be early. This is not just any other day,and you should treat your year-end review like you are negotiating for a new
job.
The Bottom LineEverybody gets nervous. Channel your nervous energy into practicing andpreparing so you can feel calm, in control and confident, and even if you don'tget what you asked for, you can chalk it up as extra practice for your next runat it. (For more, check out Can't Get A Raise? Negotiate Your Benefits.)
Find out what happened in financial news this week. Read Water Cooler Finance:
G20 Leader Spats And China Fakes It.
Rate this Article: Your Rating: Overall Rating:
Posted: November 22, 2010 10:00AM by Fabulously Broke
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