How to get the raise you want

Michelle —  January 21, 2013 — Leave a comment

Asking for a raise can definitely be difficult. You don’t know whether your manager/employer will say yes, no, wonder why you’re asking and so on. You don’t want to feel embarrassed either. The best thing to do is prepare yourself! You should do your research, know your accomplishments, practice, respect your employer and also be realistic.

Everyone knows that the economy isn’t the greatest. Some companies are laying employees off while other companies are thriving in this economy. There are also many other factors that should be kept in mind when you are asking for your raise.

Below are tips on how to get the raise you want and deserve:

1. Research.

What are people who are in similar positions as you earning per year? Try to look at similar industries and companies. Look at their responsibilities and everything that you can possibly find out.

Also, think about what you make altogether already. If you compare yourself to someone else in a similar position, but don’t take into account the different benefits that each position offers, you are not being honest with yourself and your employer. Fully total everything together: salary, bonuses, commission, life insurance, health insurance, perks such as freebies, and so on. It is said that they “extras” in you job can be worth around 20% to 30% of your actual position pay altogether.

2. Make a list of your accomplishments.

This is a big step! Going into a salary negotiation meeting and not knowing what you have done for the company recently or in the past year is a mistake. Try making a list and adding to it whenever there is a worthy addition. Review what you have done and possibly make copies of this for the people who you are negotiating with.

3. Practice.

Practice makes perfect. Practice what you are going to say. Think about any questions that they might ask you and practice saying why you are worth the raise. Sounding confident is key when asking for a raise. If you don’t sound or seem confident, then why should they have confidence in you?

4. Try not to threaten your employer.

What a lot of people do is throw things in their employer’s face. They might tell their employer that they can do better elsewhere or that they’ve already started applying for other positions at other companies. This is most likely not the best decision for you.

Some employers will take this as that you will continue to threaten them into the future. Also, that you will take the next best thing, and that you are not in it for the long-term. So before you throw something threatening at your employer, really think about it and what you want to do.

5. Be realistic.

Asking for a 100% raise when you are already topped out in your position and everyone else in your position is making way less than you is probably not realistic. Asking for something too high that you might not deserve might result in you not looking the smartest, and it might make you look like you’re trying to take advantage of the company.

Also, if you’re company is not currently doing the greatest financially, think of other ways that you can get a “raise.” Maybe you want a couple more vacation days and that’s all that will make you happy. Truly think of what exact you want out of your salary negotiation.

Be realistic with your worth and know what skills you bring to the company.

What tips do you have for getting the raise you want?

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Michelle

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Michelle is the founder of Making Sense of Cents, a personal finance and lifestyle blog about budgeting, traveling, life, and student loans. Read further on her story and life, and you can also connect with her on twitter.

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