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The Surefire Way To Getting A Pay Raise
By Dan Strakal
If you are working for someone else, it is important to remember this fact:
No one gives you a raise, you must earn it. You’ve got to prove you are
worth the additional money you are asking for. And, you must do this in a
professional, business-like, and diplomatic way. You do this by completing
salary research and having the facts straight in terms of your worth and the
additional value you bring to the table. This may mean that you are not
ready to ask for a raise tomorrow. But, taking the extra time, preparation,
and effort necessary to ensure that you are eligible for a raise is really
the only way you are going to get one. Also, when asking for a raise, it is
best to stick to business, rather than personal, reasons. It is not fair to
your employer to ask for a raise “because Sally needs new braces” or
“because you need to pay for Billy’s trip to Europe next summer.” Stick to
the business facts of why you deserve the raise. Following is an effective
three-step process to getting the raise you deserve.
Step 1: Do your homework
The surest way to not get a raise is to throw out some arbitrary or random
number to the decision maker. You’ll be better off to do some research on
what the industry standard of pay is for your position. There are many
salary calculators and web sites online such as the salary wizards at
HotJobs.com, Monster.com, or Salary.com. Keep in mind, such calculators
provide industry averages and may not be adjusted for the cost of living in
your particular part of the country. The average salary for an accounting
clerk in New York City, New York is going to be slightly higher than for the
same position in Deer Lodge, Montana. Check with your company’s compensation
department on what the exact salary range is for your position. Most
companies are obligated to provide this information to you on a confidential
basis. With both of these pieces of data, the industry standard pay range
and your company’s specific pay range; you are now armed with fact-based
information to proceed with your strategy.
Step 2: Review your past performance appraisals
Be realistic. In looking over your past performance, do you really merit a
raise? Have you exceeded expectations on the job or merely met them? What,
if anything, have you done to set yourself apart from the other people in
your department?
If you have been a constant top achiever and star performer, then by all
means proceed directly to Step 3 and set up a meeting with your boss and ask
for the raise. However, if your performance has been less than stellar, do
the following before asking for the raise.
a) Develop a great track record at work. For the next three months, put in
as much extra effort as possible. Come in a little early, stay a little
late. Cut your lunch hour by 15 minutes. Take on extra assignments. Do your
absolute best.
b) Meet with your boss. Let your boss know that you like your job but you
are interested to know what you can do to earn more money. Modify your
current performance plan (or create a new one) to document exactly what you
need to do to earn a raise. Also set and document a time when the future
review date and meeting will occur.
c) Set goals and expectations. Make a plan for doing what your boss said was
needed to make more money. Then do it.
d) Document everything. Keep a record of your meetings with your boss – when
you met, what you discussed, what you agreed on, etc.
e) Record your accomplishments. As you meet (or exceed!) each goal, keep a
record of specific activities such as the date you completed the goal, the
steps you took to accomplish the goal, concrete dollar or time savings and
increases in efficiency, etc.
Step 3: Set up a review meeting with your boss
Once you have successfully met each goal and expectation, meet with your
boss again. Review what you agreed on, how you have successfully
accomplished each goal, and determine exactly what the next steps will be to
move you forward and to make more money.
It is important to remember that no one owes you a pay raise or gives you a
pay raise – you must earn a pay raise. By being professional, reasonable and
fair; you will stand a much better chance in obtaining the pay raise you
deserve.
About the author:
Dr. Dan Strakal has been an expert on the changing workplace, job
transition, and career development for nearly 20 years. He acts as a trusted
client advisor and consultant within the corporate sector, government
agencies, civic organizations, small businesses, and educational
institutions. He also provides business, executive and career consulting,
coaching and workshops for individual clients and is the coauthor of and
contributor to two books, Better Job Search in 3 Easy Steps and Better Job
Skills in 3 Easy Steps.
Dan is often called upon by the national and
international media as an expert and has appeared in The Wall Street
Journal, Self Magazine, SmartMoney.com, Computerworld,
Diversity Inc.
Magazine, Chief Information Officer (Australia’s Magazine for Information
Executives), the Radio America Program: News You Can Use, KBS Radio Canada
and many other media outlets. He is on the Board of Directors of the Career
Planning and Adult Development Network and is a Platinum Member of the
Career Masters Institute. More info at
http://www.capable-consulting.com
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