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If you've been working for the same company for over a year and you haven't had an adjustment in salary based on performance you may be considering asking for a raise in salary or a promotion.
In today's economy of layoffs and downsizing, although your value may be evident to the company, the funding may not be available for employee raises.
This isn't to say you should give up the dream of a raise. It may be time to ask.
What have you done for your employer lately?
No one is paying closer attention to your work ethic than you. No one writes down the money you have saved the company or the extra hours you put in for a special project. What have you done for your company lately?
Keep a job diary
Every week, or even every day, write down what you did and how it helped meet the company's objectives. Keep lists and use numbers because these are the things that are measureable. Attributes such as positive attitude, willingness to put in overtime, and quality of work, are essential. Include examples about your work in the diary to illustrate your value to the company.
Create a reasoning list for yourself
From your job diary documentation you should be able to create a list of several compelling reasons why you deserve a pay increase. This list will provide the documentation in easy to remember terms. Remember, managers appreciate numbers.
How often can you ask for a raise or promotion?
If you work for a company that has been around for a while, you might have to wait a year before your first salary review. But if you work at a startup and cash is tight at the beginning, you might be able to get a performance review after working there for three or six months, or after a significant round of financing. If it has been more than a year since your last pay increase, it is probably time to ask for a raise.
How much should you ask for?
As with any negotiation, you should know what you're worth before you ask for more. Find out the market range for your job by doing research through compensation tools online. Take into account where you fall within the range based on your experience and skills.
Often a company will adjust a salary when presented with better information about the value of a job. But some companies offer only modest increases, even for outstanding performance. Use the rumor mill and the human resources office to find out about what types of raises are customary. It is, however, inappropriate to ask coworkers information about their salaries.
Cost of living increase is not a raise
A cost-of-living increase that keeps pace with inflation is not a real raise. If inflation is 4 percent and your raise is 4 percent, you are just staying even. Be aware of the rate of inflation, the value of your job, and the salary rate based on your salary search to help you determine a range to request.
How to ask for a raise
Once you've done your documentation of the value you provide to your employer and know the salary range for your position in other companies for similar jobs and know your company's policy for salary raises, its time to make your request to your employer.
Make an appointment, if needed, to set aside a time to discuss your request if you don't have a job performance review automatically each year. Provide your employer with the documentation you collected regarding your job performance and your value as an employee to the company. After sharing your value, enthusiasm, and expected longevity, request a raise and perhaps more responsibility for a promotion. Don't use ultimatums. Be prepared with a dollar amount in your request. Be polite and professional. Be prepared, also, to leave without an answer, allowing your employer time to explore your job performance and salary request privately. If you haven't heard back from your employer within a set time (perhaps two weeks) ask politely again.
Keep your head up!
If your employer does not grant a raise at this time, find ways to be encouraged. Your company many be in a dry spell and the extra funds are not there. This does not reflect on you personally. Keep up the hard work, maintaining your work ethic as an excellent employee.
Girls, get going!
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