Sat. Oct 19th, 2024

You must provide tangible reasons supporting your request for a raise.

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Julie worked as a credit manager for seven years but hadn’t received a raise in the last two years. She and her husband could barely make ends meet, so he pushed her to ask for a raise when they wanted to buy a new car. Julie was nervous but determined.

Entering her boss’s office, Julie quickly blurted out, “I’ve worked for this company for seven years, but I haven’t had a raise in the last two years. I think being a loyal employee is worth a lot. My car is old, and we want to buy a new one. Cars are expensive, so I need a raise,” adding that $300 more a month was appropriate. Her boss asked her why she believed she deserved a raise. “Loyalty,” Julie responded. “Seven years—not too many people have been here that long. I think that’s significant. I’ve been in the credit area all that time, so I really know my stuff. Other companies are giving raises. I believe I deserve one, too.” Her boss said that revenues were down, and budgets were tight. He said no to her raise request. This certainly wasn’t the result she wanted.

Longevity isn’t an asset in today’s marketplace; productivity is.

Rick knew he was underpaid. He had seen his colleagues leave the company and secure significant salary increases at new employers. He liked his job and didn’t want to abandon ship. He wanted to know what to avoid doing and what would work. Rick contacted me for salary negotiation strategies to help him create the best approach because he had no idea how to get his employer to agree to pay him a much higher salary.

Worst Ways to Ask for a Raise

I need the money. Your finances are your problem—not your employer’s. Never ask because you bought a car or house, are divorcing, or are having a baby. These reasons hold no bottom-line value to them.
But she got a raise! Most bosses are infuriated by this argument. The other employee may have done a better job than you or taken on more responsibility. This reason doesn’t say how or what you’ve done to merit your increase.
Threatening to quit. More than one boss has said, “Fine. Go.”
Refusing to work overtime or do new projects. Employers see it as negating your job, which usually has negative repercussions.
Whiny never works. Pouting, complaining, moping, or brooding won’t change the results—only positive actions will.
Blackmailing them with another job offer. Some people bluff or use a job offer they don’t plan to take as a bargaining chip to get their organization to give them a raise. It’s a very risky minefield that can often end with being told to move on instead of getting paid more.

The Secrets to Getting That Pay Raise

To get the employer to say yes, you first must provide some tangible reasons supporting the merit of your request. Use facts on your performance and quantify your contributions and their value to your employer. Even if the company’s current policy was to hold tight on raises right now, you can demonstrate why the boss should reclassify your job with a new title, raise, and promotion.

Offer proof. This is the most critical part of the process. Create a performance chart that outlines your job responsibilities on one side, and then list all the key results and significant contributions you’ve made across from them. Note anything new, like process or system improvements, and how that increased productivity, saved time or money, or how they made the company money. List any innovation, business solution, product, or service you developed that solved a big problem.
Define any new duties you’ve undertaken. Over time, many jobs get expanded without a salary increase. Make a written outline comparing the original job description duties when you were first hired to what you do now. Identify the new responsibilities and work tasks and how they contribute much more than when you started. Many organizations tend to accept these contributions without increasing the base salary. Instead, you can now make a strong case for deserving a raise when you compare the old job description duties versus the current ones, highlighting some of the significant contributions you’ve made by taking on those tasks.
Know what you are worth. Start from a position of strength and quantify your request. Research what the appropriate salary should be. Look at current job listings, particularly in states that require the employer to list the salary range. These include New York, California, Washington State, and Colorado. Those listings provide good comps to discuss when talking to your employer. In addition, you can go to Payscale.com and uncover the typical salary for your type of position. Check your association that often publishes current salaries. Have a precise figure in mind that aligns with that supporting data and state what the exact dollar figure is.
Pick your time wisely. Be sure to pick a time when your manager will likely be receptive and in a good, positive mood. Adjust your request to meet their personality and operations style.
Practice your Pitch. Role-play your request with a colleague or friend. Review it several times until you are comfortable with the dialogue. Identify the potential objections you think your boss is likely to make and prepare solid answers. Then, practice dealing effectively to overcome any possible objections. Be confident and believe in yourself that you will be effective with your persuasion.

Where the Biggest Raises Come From

The best way to maximize your income is to quit your job and move to a new employer. These transitions often give you a significant salary increase. During the last few years, people have jumped ship because the incentive to do so has been salary increases of 20%, 30%, 40%, even 50%. It’s something to consider if your answer was no or the employer offered a smaller raise that isn’t reflective of what you contribute and are worth.

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The post Want A Pay Raise? Here’s What To Say To Get It appeared first on WorldNewsEra.

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