Your boss is busy and doesn’t have time to chase you down to talk about your salary. He or she is also probably reluctant to give you a raise.
That’s why you should announce the fact that you want to have a salary conversation.
“It’s important to set up an appointment with your boss to discuss your salary,” said Amy Hoover, founder of TalentZoo. “It should be a scheduled time just like any other business meeting.”
It’s also important to be prepared to answer the question, Why do you deserve a raise?
“It’s not enough to just say you deserve a raise,” Hoover said. “You have to back up your request with data and evidence of what you’ve done.”
Tiffany Aliche, founder of the career advice website TheJobNetwork.com, said it’s also important to understand why you’re asking for a raise.
“What is your motivation for asking for a raise?” she said. “You can’t go into a meeting and say you want an increase just because. It has to be tied to the bigger picture of your career.”
Once you understand your motivation, you can use it as a springboard to answer these questions:
- Why do you want to be compensated more?
- What value are you bringing to your company?
- What more could you be doing?
- What are you going to do with the extra money you make?
Aliche said the answers to these questions should be part of your salary negotiation strategy.
Don’t wait until your annual review…
“Asking for a raise before your annual review is a pretty common practice, and I think it’s pretty effective. Waiting until your review means you’ve already been there a year, and if you’re doing a good job, they might not be able to justify a raise. The other reason is that you’re just expected to ask for a raise at your annual review, so if you ask before, it might look like you’re asking for something you’re not entitled to.
The downside of asking before your review is that if you don’t get a raise — which, let’s be honest, you probably won’t — it gives them a reason to say, ‘We gave you a chance to improve and you didn’t, so we can’t give you a raise.’
Asking for a raise when the economy is down
It’s not uncommon for people to lose their jobs during tough economic times. But that doesn’t mean you can’t ask for a raise.
“If you’re doing your job well and making an impact, you should be able to get a raise regardless of your employer’s financial situation,” Hoover said. “It’s simply a matter of having a strong enough case to make the argument.”
She said it’s important to show your boss why you’re valuable to the company.
“It’s your responsibility to develop a plan with your manager to grow your skills at the office,” Hoover said. “This will make you more valuable to the company and help prove your case for a raise.”
Hoover said people need to realize that being employed isn’t the only way to get a raise.
“If you’re not getting rewarded financially for your hard work, then it’s up to you to get rewarded yourself,” she said. “If you have to leave and find another job to get paid, then you should go.”
If you do decide to look for a new job, Hoover said you should still keep your current job as long as you can.
“Focus on what you can do to improve your current situation and prove that you deserve a raise,” she said. “If you can’t get a raise at your current job, then it’s time to start your job search.”
