7 Tips for Asking Your Boss for a Raise

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1111968_business_piggy_bank_3_ver__2Have you been feeling like your time at work is not being valued highly enough? If you are as valuable to your company as somebody like Bob Bratt, it is time to ask for a raise. Here’s how to stand up for yourself and get what you are asking for.

1. Come up with a reason…

for why your boss should give you a raise. Put yourself in their shoes. What will make them consider your request? Think about their interests and goals, not just your performance. Align their goals with your request.

2. Make sure to prepare…

before sitting down with your boss. Sometimes it can take so much effort just to work up the nerve to ask for the meeting that you can forget to come prepared. Since you will probably be nervous when finally face-to-face with your boss, practice what you are going to say beforehand. Do it out loud and ask someone to give you feedback. Or, if there’s no one around to help out, record yourself and play it back.

3. Bring along facts…

about your unique contribution to the company. This may include when you have helped the company save money, glowing customer testimonials, or praise from top level management. It is possible that your boss does not know about everything you have accomplished.

4. Do your homework…

when it comes to company and industry salaries. This will help you to come up with a reasonable figure. Your company’s Human Resources department will be able to provide company-wide salary information, while online research will help you learn about industry salaries.

5. Be careful when choosing the moment…

to ask your boss for a meeting. If your boss is overwhelmed by something that is going on at the office or at home, you may want to wait until a later time. It’s also not a good idea to ask for a raise during evaluation time, since it’s such a hectic time for management. If there’s too much on their plate, they are less likely to grant your request.

6. Time your raise request…

with a big project or new responsibilities. If you have major changes to your normal tasks, this is a great time to ask about being compensated for the extra effort. Following the successful completion of a big project is also a great time to ask for a raise. Your raise request should take into account both past accomplishments and your future workload.

7. If your boss does not seem receptive…

at the moment, make sure you clarify that you’re going to shelve it for the time being, but that you’d like to revisit the issue at another time in the future. Put it on your calendar and ask again. There’s nothing wrong with being persistent when it comes to asking for a raise. Remain confident and adopt a tone of mutual respect. Your boss needs to know that you respect them but that you also respect yourself.

A great manager will know when it’s time to increase your pay. Having a straightforward and honest conversation with management may remind them that it’s time to compensate you for a job well done.

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Money

Derek

AUTHOR Derek

My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.

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