Asking For a Raise

When, how, and how much? You've been with the company for nearly two years now, and you earned a modest salary hike after the first year. But you're still chafing, convinced that others doing comparable jobs are drawing bigger salaries.

When, how, and how much? You've been with the company for nearly two years now, and you earned a modest salary hike after the first year. But you're still chafing, convinced that others doing comparable jobs are drawing bigger salaries. It's time to ask for a raise. But how, and for how much? The first question is easier to answer, compensation specialists say. To begin with, you can't simply march into the boss's office and demand a raise. You must document your worth to the company, says Mary Daigle, a compensation consultant with Drake Beam Morin in Austin, Texas. That could mean the number of computers you sold last month or the proposal you wrote that helped land a major account. "Be sure to focus on all your accomplishments and how you've made your department and, ideally, your boss, shine," says Daigle. Important: Your raises and promotions will come more quickly if actually have a good track record and you've put in long hours and shown the creativity that fuel raises, says Daigle. "Don't think that working harder the week before you ask will do the trick." Above all, never talk about your graduate school debts or your car loan, experts say. The focus must be on the raise you deserve, not the raise you need. Still, don't be timid if your performance truly does warrant a raise. You need to pump yourself up, and convince yourself that you deserve that raise if you expect your boss to buy your story. Be strategic about when you ask for the raise, ideally a moment when the boss is relaxed, and not before a big meeting, for example. Try to strike at a time when profits are up, or just after you've finished a major project that made the department look good. And the size of your raise? This is crucial, says Daigle. "Make sure you've assessed your situation honestly, and don't march in asking for the moon." That also means researching what comparable jobs are paying to be sure you're in the ballpark. You can do this by checking the newspaper ads, the Internet or even the local Chamber of Commerce, as well as simply talking to people. Also, it won't do much good to demand a raise if the company's revenues have been in the tank for the past year. On the other hand, if you're working in a hot job market where demand outstrips supply, you may be in a position to ask for a bigger raise, secure in the knowledge that other companies are ready to snap you up. "Good employees are becoming harder to find, and employers are becoming more willing to give raises, provided you've established your worth," Daigle says. Of course, you'll need to carry the whole thing off graciously, and have a good fallback position in case your request is denied. One possibility: Propose a five percent hike immediately, followed by another five percent raise in six months, Daigle suggests. If that fails, ask your boss what you can do to earn a raise, or explore other forms of compensation, such as a bonus, extra vacation or free parking. Above all, however, never issue an ultimatum unless you're prepared to walk. ? Jim Owen is a freelance journalist who has written extensively for newspapers and magazines for over a decade. He lives in Arlington, Virginia, with his wife and three-year-old son.