How to Ask for a Raise
November 19, 2008
There are many things that make a job appealing. Sometimes it is the job environment and the support you get from colleagues. But mostly; the one factor that makes people go for a particular job instead of the other is the salary that comes with it. If you want to make a particular job title appealing, the best thing to do is to raise the salary and people are motivated to go for it. However there are many factors that are responsible for a raise.
If you are planning to ask for a raise, there are certain things to consider.
The going rate
The first thing to consider is the current rate in the industry. You need to understand this to ask for something realistic. This will be difficult for consultants who work on contract basis. But those with clear cut jobs with hourly or daily rates can find things easy and researchable in this direction. You must go round the market asking for job placement, conditions of service: salary, compensation packages, bonuses, contract specifics and other things. The internet could help.
Start from where you are.
The first place to go for information is your own workplace. That is where the most important information is. You will have to update yourself with information on the salary condition of your workplace. Then you can move out into the rest of the world. You may have to ask a friend from the workplace how much he/she takes. This means that you should have cordial relationship with people in your office.
Other options
The figure on your paycheck may not be important when it come to how comfortable you are with your compensation. There could be other things like stock options and bonuses that will make you comfortable in the future. You may have to negotiate for things like these right from the beginning. This is because situations nowadays, where there are salary caps and bureaucratic mechanisms, do not allow for salary raises.
Know your value
Before you appear before your boss for any talk about a raise, you should have something to show for it. You must know what you are worth. It means that you should know whether you truly deserve your current salary. Sometimes, some workers don’t actually deserve what they may be taking.
You need to do your homework well before you start any talk about a raise. This is the only guarantee of success in your negotiation.
Good Luck
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