Workability
While there are various ways to do go about it, a survey says that a majority of people end up not getting the expected raise just because of their wrong approach. Much before you head for the negotiation table, do some groundwork on how to seek a bigger pay cheque. Approach it right Ensure that you come up with a valid reason to ask for a raise. A good reason for a raise doesn't include a statement like "I've been with the company for long" or "I've been loyal and devoted myself to the success of the company". You have to present your need for a raise in a business framework rather than explaining it as a personal issue. Also, don't expect your employer to keep track of what you've contributed to the company. You're no more in college and the only person who has to keep track of your workplace grades is YOU. So, set yourself up for the presentation of some paper work. List achievements Prepare a statement of major accomplishments, listing your results and achievements. Be more specific with examples, focussing on percentages, numbers, facts and figures as you display your accomplishments and goals. If you can make before-and-after comparisons giving your target for the next quarter, consider your job almost done. If you've received any letters of appreciation from customers or managers, do include them in your accomplishment log. In addition, incorporate the extra projects you took on and new skills that you specifically acquired for the project or any other positive accomplishments you achieved. Also, put together the data you need to position yourself and be frank in including what your peers elsewhere are making and what you've contributed to the company. Time it well Just as important as the 'how' part of asking for a raise, is the 'when' part — right timing matters a lot. Ensure that you are aware of your company's financial status — you wouldn't want to ask for money the day after your company is going through some downsizing. If you've had a run-in with your mentor in the recent past, you'd want to wait until the air is cleared. For more accurate results, ask for a raise when conditions are right for both — for your particular situation and that of your company's. Back it with research It's very important for you to be aware of the salary structure for your particular candidature. Find out how much other people in your position earn. Check newspaper ads, the Internet or simply talk to people to make out how much you deserve to be earning. You cannot expect a raise that pushes you to the top of the salary range in just one shot. Most employers look at raises in terms of percentage hikes. Don't sound desperate Keep in mind the fact that you're asking for a raise because you think you deserve one — hence no need to sound desperate. Be positive and sound as if you absolutely, undoubtedly deserve a raise. Most importantly, ensure you don't use any ultimatum. "I'll quit if I don't get this raise" is a strict no-no unless you're really prepared to deal with its consequences. Also, be prepared to compromise about the size of the raise. If money is taut, consider other options/perks to negotiate for in the short-term to compensate for the lack of a raise. In a nutshell, raise meetings mostly combine elements of salary/job offer negotiations and that of a bit of interviewing. Take your time to thoroughly prepare so that you have better chances of success.
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IF
you started a job for less moolah than what you were worth a couple of
years ago, you're probably keen on knocking your rate back up to where
it belongs. Even if your pay was acceptable when you joined, chances
are, you're tired of standing still. In either predicament, you know
very well that you deserve a raise.
