CLS eBook 1 - 11 Steps For Getting A Great Raise
Ask Yourself. Am I Present? Awaken the Observer and Come Present to Now.
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Listen to this ALPHA brainwave as you study the following lesson.
Regardless of how justified you are in requesting a raise, like many workers you may still be intimidated by having to ask your boss for more money. Few supervisors, however, offer unsolicited pay increases. So it's your responsibility to present a persuasive case that demonstrates how your employer has specifically benefited from your hard work, skills, and talents and why your pay should be increased accordingly. Even if times are rough and "no one is getting a raise" and "you are lucky you even have a job" it is possible to make a case that your hard work and skills are valuable in keeping your company afloat (or maybe prospering). If you are in fact contributing a lot to your company, rest assured that they will not want to go through the trouble of finding a replacement who may not be as good and who will require training.
Before we get to the tips, one element is critical to your success: timing. Timing refers to the company's policies and procedures in terms of the amount of time between reviews and raises -- and when it's "acceptable" to ask for a raise. And timing refers to the company's current financial situation as well as the general economic climate. And, finally, timing refers to where you are in terms of your work and major projects. Obviously, it makes sense to ask for a raise:
Within the normal parameters of company policy;
When the company is in sound financial standing, and
When you have just had a major success.
One other thing to remember. Generally speaking, if you are doing your job well, then your boss expects you to ask for a raise and ideally is prepared to offer you one. However, doing a good job is no longer enough in many organizations. The strategies in this article are designed to prepare you better, reduce your anxiety, and help you achieve your raise and salary goals.
These 11 steps may help you the next time you ask your boss for a raise.
1. Evaluate your job description as well as job descriptions for people "above" you and a little "below" you.
This is an important first step. It's easy to take on new assignments without considering that increased responsibilities may justify increased compensation. By assuming new tasks, you may be performing at a more advanced level than your job description dictates.
For example, last year you may have begun interfacing with other department heads to better coordinate your department's output. That responsibility may be part of the job description for a position one or two levels above your present title. If so, this could help justify an overdue promotion.
2. List your accomplishments.
What have you accomplished since your last raise? Pretend you are a lawyer preparing a case on your own behalf - if you have a tendency to downplay your accomplishments even a little, this step may be a little difficult. However you may be surprised at how much money you are saving your employer by, for instance, finding lower-cost vendors. Just as important, you may be playing a major role in landing new business by preparing unbeatable bids for your boss to present to prospective clients. Or you may have resolved conflicts or increased coordination and cooperation between people and/or departments. Look carefully at what you have done, and what the downstream effects have been…even if you weren't directly involved in something beneficial you may notice cases where the outcome would not have occurred without your help (for example two previously uncoordinated departments started coordinating because of something you did…and this coordination led to a new opportunity a couple of months later.
Put actual dollar values on your accomplishments whenever possible. If your thoroughly researched bids generated $2 million in new business, take credit. Highlight this fact when documenting and presenting your case for increased pay. If your idea to implement a flexible work schedule for your division resulted in lower absenteeism that saved the company money and increased productivity, calculate the program's savings and include it in your documentation.
Documenting your accomplishments and presenting them in financial terms clearly highlights your value in bottom-line language any manager understands.
3. Find out how much others make in comparable jobs.
How much are workers in positions comparable to yours being compensated? Do your homework. This is valuable information, especially if your boss considers you an asset to the team and wants to keep you on it. If you are looking for a substantial raise, this homework includes going on some interviews. At worst you will get more information. At best you will get a written offer from another company for a salary in line with what you are asking for. If you do get an offer, tell the other company you need a few days to think it over… (Just in case your negotiation doesn't go well and you decide to take the other offer!)
Check with any professional association you belong to for surveys of members' salaries. From your local library, seek references on general salary levels. Peruse recruitment ads in local newspapers, career-oriented magazines, and the classifieds. Find out the salary ranges of co-workers and colleagues, both within your department and within your company. Get facts and figures. Use them appropriately when justifying your request for more pay.
4. Decide upon a realistic amount.
Before you meet with your supervisor, develop a realistic financial objective for yourself. Be clear on the exact amount of the raise you are seeking and the form of the raise (eg all salary, or a combination of salary and benefits). For example you may consider designing your own incentive program. One-time bonuses are easier on companies, so consider developing a system for your boss where you challenge and push yourself with the commitment from the company to reward you for achieving various ambitious goals. Also consider non-cash perks, such as a compressed work week, flextime, telecommuting days, a reserved parking space, better workspace, or more vacation time. You can also ask for career development perks, such as new work assignments, cross training, more education benefits, more professional development or conference travel money. You can also request a change in career track or job title to better position yourself for promotions and raises.
After determining your financial goal, make an appointment with your supervisor to discuss your salary objective. Minimize any surprises by giving your supervisor a written agenda prior to your meeting. This gives your supervisor time to prepare for the meeting and enables you to effectively focus and structure the actual session.
Also, have a strategy, but let boss take the lead. Just as with salary negotiations, you never want to state an actual amount that you want - just know what you want and in what form. Then let your boss make the first raise offer. Once an offer has been made, take a moment to consider it before you react to it. This is generally the most delicate part of the conversation. You need to be aware that you are having a negotiation. Your boss will start by offering the lowest amount they think might satisfy you. They may back this amount up with documentation, reasoning and company budgetary concerns. You need to be ready to express your desire (using the very top of the range - generally by starting somewhat above what you are actually hoping for) by saying something along the lines of "actually I was thinking of something more along the lines of _____ (percent or amount) since that seems to me to be more in line with what (others in company are making, or what your responsibilities would be paid at a competitor's company)". If you have an offer from another company be careful how you bring it up, but this can be a very powerful negotiating tool.
Be sensitive to your supervisor's perspective. This will help you negotiate your pay raise request within realistic budgetary parameters. Even though your supervisor may believe your case is justified, she or he may not have the delegated authority to single-handedly grant your raise. In such cases, be patient when your supervisor has to take your case to higher authorities or when you must wait for a new budget cycle. However, while being sensitive it is also important to be proactive and show your confidence and the fact that you believe you deserve the raise. You can do this by asking for details on their process - when do they think they can meet with their supervisors, can he/she get back with you in a week, would they be willing to share any feedback and, of course, let them know you will be happy to prepare anything they might need in the way of additional documentation…which leads to the next tip.
5. Focus on what you deserve rather than what you need. Your employer doesn't care if you can't make ends meet because you just bought a new house or a new car -- that's a personal responsibility issue. Focus on why you deserve a raise -- how you've added value to the department and the organization -- rather than any personal needs for a raise.
6. Focus on the future. While you want to focus on your many accomplishments and contributions to date, you also want to show how you plan to continue contributing to helping your boss, your department, and your organization.
7. Give your supervisor ammunition.
Make it easy for your supervisor to argue your case before upper management by giving him or her clear, concise, well-written documentation. Even though a pay raise may not be possible at the time you request it, a document effectively highlighting your accomplishments may put you in line for an award or bonus that would not otherwise be available to you.
8. Write a follow-up memo after the meeting. Once the meeting is over, write a follow-up memo summarizing the meeting, demonstrating your value, and highlighting your accomplishments -- and send the memo to your boss as documentation. If you get tongue-tied in these types of meetings, you might want to prepare the memo before the meeting and use it as a basis of negotiation in the meeting.
9. Set the stage for a future review. If your boss tells you it's not a good time for a raise meeting or if you don't get everything you wanted in your last meeting, now is the time to set the stage for a future meeting. Ask your boss for suggestions on how you can improve and how you can make more contributions to the department and company so that you can get to where you want to be.
10. Raise your profile within the department/organization. We're raised as children to work hard and be modest, but you cannot assume that anyone outside yourself really knows all that you do for the organization. Begin building your brand -- your reputation -- within and beyond your department.