Thursday, February 17, 2011
Top 6 Tips on How to Get that Pay Raise

So you’ve got the job you want and you have been there for a while now. Your responsibilities may have doubled over the last few years or perhaps you have improved your skills and capability to deliver your best. But there have been no talk about your pay. Salary reviews are often part of the company’s annual appraisal process but not always. But if you are not happy and know you deserve more, then you have to take action.

There is no denying that asking for a raise is a bit scary. It may be one of the toughest meetings you will have. If you know you deserve it and you are not happy with your pay then you need to take action. Here are some tips or idea on how to take your action:

1. Think about why you Deserve it
Before planning a talk with your boss or manager, you must first assess yourself. Write down your strengths and achievements. You must be specific because when your boss asks you the most terrifying question: “Why?” you must know how to answer it.

Beforehand, give yourself some thoughts like:
  • How much do you believe you deserve? It is difficult to give out the correct value on yourself on your own. You can do a little research on how much does a person’s salary get with the same job you have. You must also assess the business size, responsibility levels, qualifications and experience.
  • There are hidden costs that you have to consider, too. Have you improved the customer’s satisfaction? Saved time for improved process? Increase quality of service or product?
  • Be realistic, you will never get that 20% increase you demanded.
  • Don’t sell yourself short. Know your worth and aim for that. You can always negotiate down but you can’t negotiate up.
  • Think about the future of the company. How will the company profit if they invest this money in you? Write down your plans and goals for improving things in the future of the company.

2. Schedule the Meeting
Wait for your manager to give the schedule of your meeting. Be patient and wait for further instructions. You will be taking up each other’s time to discuss things thoroughly.

3. Do It
There’s no turning back now. Prepare your proposal and take a step forward. This time you will be a salesperson selling yourself just like a job interview. There are things you should clearly explain to your manager such as:
  • Your current salary. How long have you been earning that amount and why it is no longer sufficient. But keep your reasons business-related.
  • Make an outline of all your achievements and improvements. You have to give all your thoughts into this.
  • You deserve this. Remember, the company does not just say ‘yes’ unless you are being reasonable so you have to answer the very serious question “why”.
4. Follow Up
It is unlikely that your manager would make the decision right on the spot since he will need to talk to his superiors as well. Ask for an estimated time frame and make a follow up. You wouldn’t want your effort to go to waste now don’t we?

5. Didn’t get the answer you wanted
If your manager’s response is a “no” to your amount pay-raise, remember not to take it personally. But you are entitled to ask questions on how they or he came up with the decision. This will not change their minds on the matter but at least it will ease your disappointment. Ask the questions calmly and in a composed manner.

6. Got the Pay raise?
Congratulations! You deserve it!

Why don’t you give it a try? If there’s anything that I had miss, you can go ahead and post a comment or an opinion below to share with our fellow readers. Good luck! ~The Career Guide Team



Post a Comment

Other Sites

PR Company - Livewired is a multi-award winning, strategic public relations company driven by a team who ignite companies, brands and people through high-impact communication strategies and campaigns.


Twitter Delicious Facebook Digg Stumbleupon Favorites More