But asking for a raise is an art form that has to be mastered; otherwise you may not only not get the raise, but also remain stuck with your job and created a dreadful image for yourself.
So how do you go about it?
1) Know Exactly What You Want
Before you start negotiations look at the overall picture and reach an exact figure of what you think would be appropriate remuneration. Take everything, bonuses, commissions, health insurance, medical and dependent care spending accounts, profit sharing, paid vacation, stock options and other benefits into account, and assess them in dollar terms. Never evaluate your salary in a vacuum. You will not get the true picture.
2) Don't Be Afraid To Ask For A Raise
If you don't ask for it, you don't get it. If left to your employers, at best them may make an inflation adjustment. Even you require steely nerves ask for it. If you deserve it, more often than not the employer will give it to you. If you will not ask it, the employer will be very happy to let you continue working on a low salary. Just gather your guts around you and ask for it.
3) Are You Really Underpaid?
Before you ask for that raise, find out from sources what others in your position get. Verify with trade associations, recruiters and other specialists what other folk in your positions earn. Browse job postings on the net and see how your salary compares to those being offered to new employees. You may be surprised to know that your salary is not really insufficient. But if it is, your research will give you enough information to push your case strongly.
4) Do You Really Merit That Raise?
Honestly assess yourself. Do you really deserve it? Have your activities resulted in monetary benefits for your company? Did you meet your targets? Have you ever worked beyond your expected duties? While asking for the raise mention that you have made a palpable difference to bottom-line results and prove with actually figures that your work improved morale and employee retention or any other area that your work may have impacted.
5) Promote Your Own Self
All your accomplishments and achievements should be laid on the table. There can no one better than you to talk about your contributions to the company. When it is a question of selling yourself, you have no choice but to boast about yourself, even it seems arrogant and immodest.
6) Don't Be Hasty, Seek An Appointment
Seek an appointment with your boss and tell him that you need to discuss the feasibility of a raise. You can also sneak in a word; about what you expect the raise to be, without forgetting to mention that, whilst assessing your work, you feel that you merit the raise. Asking for time, is actually giving your boss some time to mull over your request and gauge for himself whether the raise should be given and if so, how much?
7) Don't Give Up Easily
If the performance review is over and based on it the management has made perfunctory raises, ask for a merit based increase based on the contributions you bring to the table during discussion. Your company should be left in no doubt about the difference that you have made to the company.
8) During Discussions Read Between The Lines
Wait for your employers to make the offer. If they ask you to mention what you are expecting, be assured that they will offer less than that. But if they insist, give a vague answer, like, I've told you what I have done; now you put a value on that. If they say, Okay we are increasing it by 5 percent. Say it is considerably less than what you were hoping for. Stay alert for tell-tale signs, management statements conceal more than they reveal. Their no can mean a yes. With every statement you make, they will be assessing how far you are willing to go
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9) Know Where To Draw The Line
What are you going to do if you don't get the raise you want? Eat humble crow and continue to work on your current salary. It would be better that you be prepared for such a scenario? Assess other job opportunities and if another job is available, you can ask the raise with confidence and self-assurance. If you have another job as backup, the management will tread very cautiously. However, don't ever quit on the spot. First confirm the alternate job before telling your employers; sorry I am being paid more elsewhere.
10) Your Salary Is Not Just The Money
A high salary raises esteem, not only your own, but also amongst your friends and acquaintances. Put a dollar value on everything that you are receiving from the company, apart from your pay check. This could include bonuses, commissions, health insurance, flexible spending accounts, profit sharing, paid vacation and stock offerings. Add all this together and see what it works out in terms of money - that is your comprehensive salary and one that you can flaunt without feeling guilty of falsifying your salary.
11) Happiness And Job-Satisfaction Is Worth More Than The Money
If the workplace is a happy one and you are contended with the job, then maybe not getting a raise is not sufficient reason to leave. You really cannot put a price tag on a job you enjoy.
