Since the economy has finally begun to perk up and show a bit of life (even if it is doing so at an extremely slow pace) there have been encouraging noises coming out of a number of small to medium size businesses. These positive signs include the ending of self-enforced pay freezes and a reintroduction of bonuses and raises for their employees. If you work at a firm where employee raises are once again on the table and if you are one of the hundreds of thousands of people who have seen their finances reduced over the last two or three years then it might be time for you to get a raise. But how do you go about getting one? You start by remembering one simple thing – the worst that can happen is your employer says no. The best thing that can happen is they say yes and you get that raise. With this in mind, you’ve got nothing to lose, so prepare with the following tips and then ask for that raise:
(1) Be Aware of Your Own Value – This is vital. How can you go in and ask your employers to put a value on your skills if you don't know what that value is? On the contrary you need to do a lot of research and find out exactly how much your skills are worth in the current market. Look up online how much other people at rival companies are being paid and how much new positions commensurate with your own are going for in the job pages. Look at these and work out if there are people in the market with exactly the same skills and qualifications and if they might be earning more than you earn? As well as that you should evaluate just what your skills have brought in terms of value to your employer. If you can remember to keep it all in strictly financial terms and can avoid talking to them about your specific financial situation then you will find the discussion goes much easier. You will be able to chat with your employers in purely financial and pragmatic terms which will show them the sense of giving you a raise because of your value to their company.
(2) Make Sure You Dress The Part – It doesn't matter how long you’ve been with the company and how you normally dress; nor if the company has a smart casual policy most of the time. It never hurts to look good for any kind of meeting or interview. If you go into a salary negotiation dressed like you are worth decent money, you will not only give your employers that impression, you will also feel confident yourself and will project this new confidence when negotiating.
(3) Don’t Be a Chatterbox – It is crucial that you don't walk into the negotiating room and start talking away inanely or nervously. Chances are you will talk yourself straight out of your potential raise. Instead, sit yourself down and when you are ready, make a clear and concise pitch, selling your value as discussed above. When you are finished, be quiet. Silence is a powerful tool. Wait for your employer to respond, rather than chatting to fill a gap or calm your nerves.
(4) Be Ready to Negotiate With Your Employers – Inevitably with any salary negotiation you are going to have to negotiate. This means preparing to indulge in a bit of give and take with your employers. This might mean instead of getting the total raise you ask for you might get a partial raise but additional other benefits, such as more home-working or flexi-time.
(5) Above All, Confidence – Don’t go in there and be arrogant, but do make sure you go in there and act confident throughout the whole meeting. You can ensure your confidence by being well dressed, knowing your value and being prepared. Shake their hand(s) firmly, always keep good eye contact and speak clearly. Do all of this and you’ll soon be receiving a larger pay check every month!
About The Author:
Esther is a consumer finance writer and journalist. She blogs regularly about everything from career advice to consumer finance issues, from business loans to credit cards and from real estate to financial law. She also contributes to a Chicago legal blog. See here for more details.
