Posted by Dave Lorenzo - Business Coach
Free Money Finance reminds us of Money Central’s Five Tips to Getting a Raise.
They are:
1. Have your ducks in order. Of course, you can’t march into a meeting with your boss armed simply with your opinions. You need to back it up. That means analyzing and cataloging what you’ve accomplished in the past year, writing it down and then preparing for that all-important meeting. It’s also a good idea to bone up on industry standards. One good source is salary.com’s salary wizard.
2. Know the business climate. It’s also important to know the current economic environment — not only in the national economy but also in the company. “If business is booming, then seeking your fair share of the wealth is understandable,” says Mimi Greenberg, president of MRG Associates, an executive search firm in New York City. “But if you’re employed by a start-up or a larger company actively looking to slash costs, it may not be a very good time to ask for a bump in your paycheck.”
3. Rehearse. Know what you want to say to the boss and practice saying it out loud. Remember, you are selling yourself.
4. Prepare for the worst. According to CareerBuilder.com, one of the largest online job-search Web sites, less than 1% of people who ask for a raise get it right away.
If your boss won’t give you a raise, ask for other things such as more vacation time, a laptop computer or other equipment. If you are turned down, express disappointment, shake hands and calmly walk away. The composed manner in which you take the rejection may give your boss the impression that you have something else lined up — even if you don’t.
5. Be gracious. If the final answer is “yes,” express appreciation, but do not go overboard. Work twice as hard to prove your boss made the right decision. “Start right then and there earning that next raise,” says Greenwood of Common Sense at Work.
Good advice.