How to Prep to Ask for a Raise

by Lydia Dishman, PayScale.com

Even though the recession has been responsible for the loss of 8 million jobs and the lowest pay raises in over thirty years, there is a light at the end of the tunnel. A recent survey by Hewitt Associates, a global human resources consulting and outsourcing company, found that only 13 percent of companies anticipate salary freezes this year, compared with nearly half last year. And those that are planning to increase salaries will do so to the tune of 2.7 percent, also an improvement over 2009.

And that's good news, especially if you're employed in a high-growth industry such as education or healthcare. But just because the time is ripe for pay raises doesn't guarantee you'll get one. Here are some important points to keep in mind before, during, and after you discuss a salary increase.

Know the Policies and Procedures
"First be aware of your company's compensation philosophy or merit-increase practices. Consider whether or not increases are given annually or in the case of a promotion, and align your timing appropriately," advises Niela Hill, director of HR at NorthgateArinso, a global human resources software and services provider. Salary freezes may have disrupted pay-increase schedules last year, but if policies are still in place, you'll score points by timing wisely.

Kerry Patterson, a coauthor of "Crucial Conversations," says employees should evaluate their company's financial standing to ensure that the business is in a position to give them a raise if their contribution warrants one.

Be Cool
Hill says, "The truth is that if any of us were paid what we really think we're worth, we'd all be due an increase." She recommends taking emotion out of the equation and instead focusing on your performance and achievements in the past year.

Barry Maher, the author of "Filling the Glass," adds, "Be ready with a list of your accomplishments--all the reasons you've earned a pay raise, not why you need one."

Keep Tabs on Your Contributions
Maher suggests that this process is easier if you send a short note to your boss at the end of each week, "Just keeping him or her apprised of everything you did." When employee evaluations are due, your supervisor can use those updates to grade your efforts.

It's even better to assign a dollar value to those accomplishments if they earned or saved the company money.

"You should also be able to show a benefit to your boss," Maher explains. In bottom-line terms, demonstrate how increasing your paycheck will advance the interests of both the company and your supervisor.

Know What Your Work Is Worth
Hill and Patterson agree that well-researched salary data on pay for similar roles in similar companies can be a strong negotiating tool. See online salary databases like PayScale.com to research your job.

For instance, if you are currently employed in IT, you can point out to your boss that according to U.S. Bureau of Labor Statistic (BLS) estimates, your industry is expected to grow by 53 percent over the next decade and that IT support techs can expect to earn $46,400. "Consider whether or not the company would have to pay significantly more to replace you with an external candidate," Hill points out.

Get It on the Calendar
This is a business transaction, so it's important to set the tone right away. Hill advises scheduling a meeting with your supervisor rather than just dropping in for an informal chat. "Let them know in advance the reason for the meeting so you can both be prepared for a professional exchange of ideas," she says.

Watch Your Language
Once you're in the meeting, Patterson stresses using the correct words (think "I've earned," not "I need") to make the request an informed business decision rather than a charitable contribution. "Remain factual but explain how you decided that you deserved higher compensation," says Patterson. If higher-ups disagree with you, ask them to share that reasoning with you. Patterson says, "Add more facts or clarify the questions so he or she may reconsider."

Move Past a No
You're not always going to get the raise you want. Maher says, "When that happens, politely and respectfully ask your boss what specifically you need to do in order to earn the raise in the future." He recommends working out detailed deliverables within a precise time frame. "Take notes. And if possible, get something in writing you can both agree to."

Report your progress regularly. Once you've met those specific goals, Maher says, "it will be very difficult for your boss not to grant your raise or at the very least fight for it."0

Job Info , Jobs Sources , Career