In today’s economy, most people are lucky enough if they don’t receive a pay cut much less be able to ask for a raise. Some are working harder than ever just to hold onto their jobs. Layoffs due to budget shortages abound. Still, it never hurts to ask. Just remember to be polite, understanding and flexible. These are difficult times we are going through that require special consideration.
In this economy, it’s natural to not want to “push it” by asking for the raise you probably deserve. You don’t want to rock the boat, shift the status quo or end up in the unemployment lines. However, you’ll get more if you pitch the question first. The bottom line is be flexible.
Don’t worry. You won’t get fired for asking for a raise.
Aside from the labor strikes in the 1930s, nobody has ever been fired for asking for a raise. Fearing asking your boss for more money is understandable, but it isn’t rational. The worse answer you’ll get is no, or if you are lucky, maybe later. The simple fact is in this economy, your boss may not be able to afford to give you more pay. Ironically, however, you are actually less likely to get laid off if you’ve already asked for a raise. Even in the face of job layoffs, asking for a raise may actually be a better survival tactic than keeping your trap shut and living with it.
Ask gracefully.
Realize that in this kind of economy, your boss is probably under more stress than ever. Give them room to say no gracefully. Paraphrase your request by pointing out that you realize the financial strain and considerations of the moment. Be understanding of the dilemmas your boss is saving. Above all, be patient. Point out ways you’ve improved profit and productivity. State why you think you deserve it, and what you’ve done to carry the company lately.
But keep confident.
Even if you think this is a shot in the dark, get your reasons down pat and believe in yourself. Do all the ample prep work before you have the conversation. Consider why you think you deserve the raise. Consider any goals you’ve met. Weigh your responsibilities. Point out where you’ve exceeded their expectations. It’s a good idea to also highlight innovations you’ve brought to the company that streamlined processes and improved profit. Count your assets and add them up.
Realize your monetary value. What would it cost them to rehire and retrain a new person? Your raise is minor compared to that.
Establish an impossible number.
Hey, you are negotiating. You start high and work your way to the medium. Find what raise fits your wildest dreams and find reasons why that might make sense. You’ll have to come down, but if you start high, you’ll have to come down less than if you start with reality.
Stick to numbers over emotions. Feel good approaches like your staff responds to you don’t carry the drive of number figures. Prove your worth in dollars and cents. Make your raise a quantifiable cause. It all comes down to numbers, so provide the math that makes it add up.
When to ask
It always depends on the circumstances, but a reasonable estimate is every 12 to 18 months. If a raise is rather low, it’s all right to ask your boss if you can discuss it again in 4 to 6 months.
How to estimate the balancing act
How do you estimate your salary against your peers without rudely asking them over lunch or after work happy hour? Check out the web. Sites like Jobnob.com and Salaryexperts.com can give you a good idea on what the industry demands. When you know you are on the same page with the rest of the industry, you have more to work with to get your demands met.
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