No one asks for a raise just for the sake of asking. You need a raise, maybe to move to a new home, or you may want to support your spouse's college education. You may even be putting in 50-60 hours a week for the sole benefit of the employer; whatever the reason, you have identified that you need it.
The big question is, "do you deserve it?" You can confidently ask for the raise when you are sure of yourself. Five Ways To Get A Raise. Here are five sure-fire ways of getting a raise.
1. Don't Ask For A Raise Without A Fail-Proof Plan In Place: Bosses sometimes listen only to well thought out plans which they can hardly refute. If you did not know, they are where they are because can resist such demands which call for additional expenses and can improve the bottom line of the company by curtailing costs (i.e. - your salary!).
Your plan can include how an additional $10K or $20K raise can benefit the company. You presentation needs to include what the company is losing and where, by situations not being attended to and how you propose to reverse the trend. But play your cards safely; it can backfire on you if you disclose all your plans. 2. You Need To Occupy An Indispensable Position To Force A Raise: Employers will always be looking to reduce the biggest component of expenditures, which is salary, by at least capping it.
However, this does not limit them to raise a high performer's salary even when the 'budget is very tight'. Once you are indispensable, your boss sees you as a value adder and he can ill-afford to lose you to his competitor. 3. Know The Industry Standard Salary For Your Position: This is one of the main reasons for asking for a raise; you have recently discovered that you are being poorly paid vis-a-vis your counterparts in other organizations.
But if you are unaware of this, your boss may turn down your proposal saying 'you are already drawing the highest salary in the industry'; or 'this is the highest you can get anywhere for this position.' Know what the standard is in comparison to what you are already getting! 4. Have Options Ready To Suggest To Your Boss: It is possible that the boss might be bound by true constraints. Keep ready alternatives like a housing allowance or extra bonuses directly connected to your performance. Having taken the step to ask for a raise, you shouldn't come away empty-handed. And you won't, if you have prepared correctly.
5. Predict The Grounds On Which You Can Be Rejected: The objections that your boss might raise will always be your weak points or the organization's overall weak financial position. But your demand is based on your measurable performance; the company's overall weakness shouldn't bother you.
If nothing appears to move, ask your boss whether you need to speak to upper management. His reaction to this may not be positive, but handling this situation tactfully should save the day for you and get you what you want.
Tony Jacowski is a quality analyst for The MBA Journal. Aveta Solution's Six Sigma Online offers online six sigma training and certification classes for lean six sigma, black belts, green belts, and yellow belts.