negotiating a raise

So you want a raise? Why are you asking for one –Do you want it? Need It? Deserve it?
In this climate it needs to be that you deserve it. Everyone is keeping an eye on costs and making sure they are getting value for money. If you get a raise, everyone else will want one, particularly if your discretion can’t be relied on!
Wait until you have a track record of accomplishments you can point to that show you merit the raise. Avoid asking for an increase if you’ve only been on the job for a few months or if the company is struggling financially.
You need to look at it from the company point of view. When someone asks for more money, a manager will consider that person’s value. They will be more willing to accommodate someone fantastic who they don’t want to lose—and less likely when the request comes from someone who performs just adequately.

So you want a raise? Why are you asking for one –Do you want it? Need It? Deserve it?
In this climate it needs to be that you deserve it. Everyone is keeping an eye on costs and making sure they are getting value for money. If you get a raise, everyone else will want one, particularly if your discretion can’t be relied on!
Wait until you have a track record of accomplishments you can point to that show you merit the raise. Avoid asking for an increase if you’ve only been on the job for a few months or if the company is struggling financially.

You need to look at it from the company point of view. When someone asks for more money, a manager will consider that person’s value. They will be more willing to accommodate someone fantastic who they don’t want to lose—and less likely when the request comes from someone who performs just adequately.
Your request needs to be about your value to the company, not about your expenses. Employers don’t pay people based on their financial needs. So present reasons that are about business and your proven value to the company.

It’s often the case that someone who has been with the company for a while but is doing a worse job than you is getting more money, but managers will not respond well if you use a colleague’s salary as the basis for a raise request. Instead show them you have based your request on the industry standard and what you’ll be bringing to the company, nothing else. Research your value, research the job and the company. There is a tremendous amount of information online as to what the market rate for particular positions is. Look at free salary comparisons, surveys and databases.
Build a case for why you’ve earned an increase, and why your company is better off because of your work. Think back to any special achievements in the last year or how you’ve positively affected the business. Why would your company be worse off if you left? Think about your last review-what did your manager comment on that you had done well?
You need to be confident you have earned an increase, not just because a year’s gone by, or because you’ve completed the basic requirements of your job. In this economic climate they probably can’t just put customer’s prices up, so why should you be able to?

Keep a note during the year of things you want to draw attention to at the right time. This is best practice in preparation for your annual review anyway. Maybe you can show a file of comments or complimentary emails you’ve received from colleagues. Or maybe you can show that your idea increased revenue by X, or that your productivity rate is twice the average rate. Have you been asked to take on increased responsibilities?
An annual review is a good time to bring up the subject of future prospects, chances of promotion, likely salary increases. In a good review process, your manager will bring this up. If not, it is a subject to bring up as the meeting draws to a close. As long as the review went well that is !
Don’t threaten to leave, at least until you have a better offer! Even if it’s true, you don’t need to say it. Managers understand that this is the implication when someone asks for an increase.

Plan your pitch! You might say “The Company has been great about rewarding my performance with increased responsibilities, and I appreciate that. I’ve been outperforming my targets for a while now and I’d like to talk about adjusting my salary to reflect that”.
If your manager says no, then ask what you would need to achieve to earn an increase in the future. Ask them to be specific. What targets would you need to hit? How else can you contribute? If you do hit them would an increase be guaranteed? At the very least you can refer to those benchmarks the next time you ask for an increase.
Your request needs to be about your value to the company, not about your expenses. Employers don’t pay people based on their financial needs. So present reasons that are about business and your proven value to the company.
It’s often the case that someone who has been with the company for a while but is doing a worse job than you is getting more money, but managers will not respond well if you use a colleague’s salary as the basis for a raise request. Instead show them you have based your request on the industry standard and what you’ll be bringing to the company, nothing else. Research your value, research the job and the company. There is a tremendous amount of information online as to what the market rate for particular positions is. Look at free salary comparisons, surveys and databases.
Build a case for why you’ve earned an increase, and why your company is better off because of your work. Think back to any special achievements in the last year or how you’ve positively affected the business. Why would your company be worse off if you left? Think about your last review-what did your manager comment on that you had done well?
Keep a note during the year of things you want to draw attention to at the right time. This is best practice in preparation for your annual review anyway. Maybe you can show a file of comments or complimentary emails you’ve received from colleagues. Or maybe you can show that your idea increased revenue by X, or that your productivity rate is twice the average rate. Have you been asked to take on increased responsibilities?
An annual review is a good time to bring up the subject of future prospects, chances of promotion, likely salary increases. In a good review process, your manager will bring this up. If not, it is a subject to bring up as the meeting draws to a close. As long as the review went well that is !
Don’t threaten to leave, at least until you have a better offer! Even if it’s true, you don’t need to say it. Managers understand that this is the implication when someone asks for an increase.
Plan your pitch! You might say “The Company has been great about rewarding my performance with increased responsibilities, and I appreciate that. I’ve been outperforming my targets for a while now and I’d like to talk about adjusting my salary to reflect that”.
If your manager says no, then ask what you would need to achieve to earn an increase in the future. Ask them to be specific. What targets would you need to hit? How else can you contribute? If you do hit them would an increase be guaranteed? At the very least you can refer to those benchmarks the next time you ask for an increase.

Publisher: sulaiman isse

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