Negotiating a raise can be a tricky subject---particularly in these tough economic times.
On the one hand, you KNOW you deserve—and need—one, but on the other, a little nagging voice inside your head warns you against rocking the boat. With so many of your friends, neighbors and family members unemployed, you are, after all, lucky just to HAVE a job!
However, let’s get one thing straight: if you wait for your boss to recognize your worth to the company, you may NEVER be able to afford that Caribbean vacation you’ve been dreaming about.
It’s not at all unusual for the regularly scheduled pay raises to be delayed, or even forgotten about entirely. This is not to say that there isn’t ANY money in the budget to compensate stellar performers, but rather, that top management must spend their limited funds judiciously.
Therefore, if you are to receive a raise, the best way to go about it is to highlight one of your recent accomplishments. Perhaps you have just devised a new and cost-effective way to conduct inventory, or designed a marketing flier that is getting attention form prospective customers. You may have just completed your degree program or training classes.
The whole idea is that for your employer to consider giving you additional salary, it is up to you to demonstrate your value to the company and come up with compelling reasons as to why you should receive a pay increase. Before making your request, it would be well worth your time to do a little research on how much others are making in your same position. Know, for example, what the pay scale is for your industry and be ready to discuss the ways in which you plan to continue to contribute in the future to your company's bottom line.
Obviously, you’ll need to assess whether the timing is right for such a demand. If your boss is having problems with his department or if your company is struggling to meet payroll, is in the verge of being acquired by another firm, or has recently lost a major contract, then you’ll need to wait for a more propitious moment to make your case. In the meantime, continue to do an exemplary job for your employer and keep notes on what you've done and how it has benefited your company.
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