You have not received a raise for a long time, and you feel you are entitled to a raise because you helped raise the productivity level and profits of your company. Your second child has just been born, and you need the money for additional expenses.
After researching your value to your company or organization, it’s time to schedule a meeting with your boss. This is the first person to talk to about requesting your raise.
Schedule a Meeting
Schedule a time with your boss to discuss your raise. Tell her that you have something important to talk about and you’d like to set up a meeting to discuss it.
Make sure you have your boss’s attention during the meeting. If she takes other calls or wants to rush to a meeting, ask her to reschedule a time when she can give you her uninterrupted attention.
Don’t Plea, Demand or Give an Ultimatum
It’s best not to plea with your boss for a raise on the grounds of financial need. Don’t plea on the grounds of fairness either. You may get a small raise out of pity but not a large raise.
Also, don’t demand or give an ultimatum to get a raise. This may backfire because your boss may begin to resent you.
State the Facts
When you have her attention, assertively state your case for a raise. Be polite and state the facts.
Tell your boss how much productivity has increased, operating costs have decreased, how much you have saved the company, how efficiency has increased, or whatever measures of your bottom-line contribution to the company has been since you started working or since your last raise.
Also, tell your boss what you have accomplished and any recognition you have received for your accomplishments. Tell her what your worth is in comparable jobs in your industry.
State What You Want
Think of a figure you would like to receive. Be realistic but not conservative. Then raise it by at least 50%. This gives you some room to negotiate.
Name this figure when you talk with your boss. Be firm and polite when you tell your boss what you want.
Be positive about requesting your raise. Don’t say, “I know it sounds like a lot of money, but I think I’m worth it.” Don’t be hesitant or uncertain. Just look her in the eye and say, “I’m looking for another $1,000 a month.”
Negotiate Your Raise
Your boss may agree to the amount you ask for or negotiate by offering a smaller amount. You can then counteroffer with an amount in the middle or above the middle. Continue the negotiations until both you and your boss are satisfied with your raise.
If Your Boss Reacts Negatively
Your boss may instead counter with various responses that are intended to keep you from getting a raise. One strategy is to tell you about all the problems the company is having.
Tell her that you understand the business is experiencing difficulties but that you have personal financial difficulties too. Say it’s not fair to penalize you for the company’s problems, that you give the company your best effort and expect to be fairly compensated. If she persists, suggest that if you don’t get a raise because of the company’s financial difficulties now, that she be willing to discuss a profit-sharing and bonus plan for any increased profit or savings you generate.
Your boss may also say the company’s policy prevents her from giving you a raise. Examples are that you cannot be paid more in your position or that an employee must work at least two years before getting a raise. Discuss the policy with your boss and try to find ways around the policy or come up with reasons why you should be an exception.
Requesting a raise takes courage. But studies show that those who request a raise are much more likely to get one than those who don’t. So dare to be courageous!