I always admired my fellow co-workers who had the guts to ask my boss for a raise. When they came out of our supervisor’s office with a big grin I would quiz them on their approach and beg them to tell me what it was that finally swayed our frugal boss to give in to their demands (ahem!)… I mean, requests.
They gave me a few answers, some common sense, the others–ones I would have never thought of on my own:
1. Do Your Homework
Never approach your boss unprepared to answer the inevitable question: “Why should I increase your salary when so-and-so who does exactly the same task is making less than you are?” Check external sources as well as with others in your office that share similar duties (this was never a touchy topic in my workplace, though it may be in yours so tread carefully). If you feel more comfortable, bring notes that will help you present your case. Make sure your notes include three of your strongest accomplishments within the organization or areas in which you took on extra responsibility.
2. Earn An Online Degree
Pursing higher education while on the job gives you the opportunity to fine-tune your skills and makes you more marketable for higher paychecks in the future. I’ll never forget the sign that hung on my high school guidance counselor’s wall. It read: “Furthering education helps people further their careers.” With online degrees you don’t have to be in a traditional classroom setting–you can get a quality education on your own terms.
3. Network
According to marketing consultants, networking is vital to increasing your intellectual capitol. In my line of work (broadcast journalism), networking is key. It is the key to a good story, the key to future stories, and the key to accessing otherwise confidential information. The key to networking through associations, business groups, or your local Chamber of Commerce is having a plan. It’s important to have a great introduction, but don’t spend too much time talking with one person. The intent is to meet as many people as possible and establish contact with them soon after your initial meeting.
4. Move Laterally
If you want a raise, but are continually denied by your supervisor, before quitting and moving to another workplace, explore internal opportunities. Working for the same company, but in a different department could result in a bigger paycheck. Also, keep in mind that even if your boss is supportive of a raise you may not be guaranteed more money. Your boss might not have the power or authority to fatten your paycheck even if he or she wants to.
Look for more tips in future blogs.