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Getting The Raise You Deserve

Feb 26, 2008
Many people ask for a raise without having done their homework. Asking for a raise is more of an art, where you have to show your skills, your value to the company and have good negotiating power.

Timing is a very important factor when asking for a raise. There's no point in asking for a raise when the company is in financial trouble and trying to cut costs. Another important factor to be considered is that the raise should be in line with what you deserve, coupled with job market conditions and company policies.

You should understand that if you are doing a good job, you boss is expecting you to ask for a raise at some point. However, you will need to prove that you are worthy of the raise that you are expecting.

Here are few tips to follow when asking a raise.

Planning- You need to plan your approach. Set up an appointment with your boss to ask for a raise, as opposed to just walking in and announcing that you want one.

Know Your Worth- Do your homework - do the necessary research to find out how much you can expect to get paid, depending on your position, experience and industry. This will help you arrive at a figure to further negotiations. You can use various salary calculators on the internet to find out your true worth in the job market.

Be Realistic- No matter how good you are, or how underpaid you are at the moment, you should never ask for a very large increase. The reason for this stems from the fact that employers look at raise as a percentage increase in your salary, and there are limits. Asking for too high a figure compared with your current salary is not realistic. It is better to consider several small increases. If you feel that you are way underpaid, perhaps you should consider looking for another job.

Show what you deserve rather than what you need- Your raised expectations should be in the line with the value that you bring to the organization, and your accomplishments - not on your needs. Your needs are personal and things that you have to manage; they are not your employer's problem.

Demonstrate accomplishments, and your Contributions- When going to the meeting, you should have proof of your good work, ways that you have helped save company money, as well as your accomplishments. You can have these in a spreadsheet format that will systematically point out to your boss how valuable you are to the company.

Asking for a raise can be daunting, but the fact is that you may not get one unless you ask.
About the Author
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.
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