What to do When Asking for a Raise

Is your paycheck feeling a little slim these days? Are you wondering when the raise you have been expecting for months will finally come through? You are not alone. Millions of workers around the globe are feeling the strain of not making enough money. The cost of living has increased in recent years and some companies are letting their employees go because they do not have the financial means to support more than a minimal staff. For those in this situation their spouses are picking up the slack while the out of work look for new avenues of employment.

It used to be that employers handed out raises on a schedule, but these days that is getting more and more uncommon. If you think you deserve a raise you might have to do something about it rather than waiting for your employer. In today’s workplace it is becoming more and more common for employees to take the step when it comes to asking for a raise. These tips will help those in need learn how to ask for a raise and get what they deserve.

What You Are Paid Versus the Norm

When asking for a raise it is a good idea to know what others in your field are making for similar positions. Knowing what the going rate for someone with your background and experience will help your employer understand why you feel you are deserving of an increase in pay. There are several salary calculators online including the one provided by Yahoo Jobs. By entering your title along with your city you can find out what others in your area are making. Because positions pay more depending on location and experience you cannot be certain your boss will agree to the raise but knowing how you rank compared to others is one of the best ways to see if you are being underpaid in the first place. If you are making more than the average employee, chances are your employer is not going to shell out the extra cash but it is always worth a shot.

Knowing When To Ask

One of the key components in asking for a raise is knowing when to ask for one. This is one mistake many employees make when they want to negotiate a raise. Depending on the size of the company timing might make a huge difference in not only getting the extra pay but in getting an even bigger amount than you expected. Experts recommend asking for a raise when business is going well. If your employer is experiencing a higher than normal growth in sales, go ahead and ask for the raise as soon as you can.

Why Are You Deserving?

Are you the top performer in the office in terms of sales? Have you found a way to cut costs without reducing the number of employees? Did your marketing campaign drastically increase your client base? Are you the go-to-guy who is versatile and does not complain when they get stuck with the hard jobs? If so then you deserve a raise. While you might think you are deserving a raise because you have not been complained or missed a lot of work your bosses are looking at it from a different angle. Employers look at what you contribute to the company as a whole when deciding whether or not you are eligible to receive added compensation. When you ask for a raise, bring up what you have done for the company. Do not be overly boastful about it, but make sure they remember it was your idea that made them money last quarter.

Negotiate A Salary Increase Don’t Demand

Asking for a raise is often more of a negotiation than an “ask and you shall receive” situation. Being prepared to follow up if you are given a no answer is an important aspect. Some employers simply do not have the money to increase their employees pay but that does not necessarily mean you have to give up your quest. If you want to negotiate a raise go into the meeting with a list of alternatives. Alternatives might be anything from a better schedule to more time off. If you work in a position with a shift rotation you might find that getting more days off together is an acceptable alternative. If that is not the case, see if you and your boss can come to a compromise regarding a salary increase. You might not get exactly the percentage increase in money you were hoping for but every little bit helps.

For some excellent raise negotiation tips visit MSNBC.com at:

http://www.msnbc.msn.com/id/15064004/.

Get to the Point

One of the most common mistakes employees make when they are trying to figure out how to ask for a raise is making a big show out of it. Do not get caught up in ever miniscule detail. Make your presentation short and to the point. Quickly outline your worth, your contributions to the company, and any possible alternatives if money is not an option. If you are taking in a written copy of your request for a raise, keep is short. An outline is easier to follow and will not overwhelm your employer.

Additional Information

Cost of living salary raises are written into the contract of some positions so asking for a raise if you have a job that includes cost of living salary raises will most often net you a no response. Of course, if you have not gotten one of your cost of living salary raises recently there is no time like the present to ask.

Remember to let your confidence shine through when asking for a raise. Be prepared and even practice your speech a few times, especially if you are prone to nervousness. Your confidence will impress your employer and make them take your request more seriously.

Finally, if your request is not approved you need to think of it as not being a personal reflection on yourself. It is more likely that there is not money in the budget to give you the increase you were hoping for. Remember that you have other options if the resolution is not in your favor. There are always other jobs out there, but hopefully it will not come to having to make an unwanted career change or job change.