Five Points When Negotiating a Raise
Asking for a raise is rarely easy. Here are a few tips:
- Make a business case. Pay raises are not about righting a wrong, they are about providing employees with compensation related to the value they provide to the company. Keep your points business-related.
- Understand the rules of pay in your company. While it might seem like your pay level is unfair relative to others in the organization, pay equity is not a part of all companies’ pay philosophy. You don’t have to abide by this, but make sure you understand where your company positions itself on the issue.
- Understand how you add value to the organization. Whether it be the years of experience, your attitude, your success record; all of these things have monetary value and are part of what’s compensated.
- Come armed to discuss your track record. Relatedly, anticipate the conversation months in advance and do extra things to justify the raise.
- Understand the value of good timing. Let’s face it, just because you might be owed a raise, doesn’t mean you’re going to get one if you ask for it the day after widespread layoffs go into effect. Bosses are human; they will hear messages to greater or lesser degrees depending on the situations in front of them.