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Asking for a Raise

You work hard at your job and go the extra mile for the company, yet you are still making the same amount of money you did when you joined your company three years ago. In short, you feel like you deserve a raise.

The truth is if you want a raise, you’ll likely have to ask for it. Very few employers just approach current employees and offer them more money. Asking for a raise is not easy, but it is an important skill to master. Here are three actions to guide you through the process:

  1. Request a Meeting. Asking for a raise is not a casual action. Therefore, you should not try to slip it in at the end of an already scheduled meeting or discussion. Ask for a special meeting with your supervisor. If they ask what you’d like to discuss, be direct and tell them you want to review your performance and compensation.
  2. Prepare your Case. Because you requested the meeting, it is up to you to manage the conversation. This means you must have a clear agenda, documentation, and discussion points prepared in advance. Do not compare your performance or rate of pay to others in your organization. Instead develop a list of accomplishments that include measureable outcomes. Make the case that you contributions and accomplishments warrant a raise. And, state the amount of raise that you are seeking. It is important to be both direct and specific.
  3. Be Flexible. In the current economy, a raise does not always translate into additional dollars. If your boss agrees you deserve a raise, but the organization does not have the resources, have a list of other items you will consider. Benefits such as additional paid vacation days, tuition reimbursement, or paid training do have monetary value. If you do accept a benefit in lieu of cash, be certain to pick a specific date on which you and your boss can re-visit the possibility of a monetary raise.

Good employees deserve to be paid based on their value. So, give it a try and ask for a raise. If you are interested in checking comparable salaries in the accounting, finance, IT, and office support fields visit our SNI Companies website at www.snicompanies.com and click on our Salary Guide icon. Or, review our SNI Companies Salary Guide here. It’s always advisable to be armed with the knowledge of market-rate salaries in your industry and area.