Thursday, August 04, 2005

Is it time to ask for a raise?

After the economic difficulties of the last few years, many individuals remain “under” employed. If you’re thinking about looking for a job only because you feel you are underpaid, rather than leaving an opportunity you otherwise enjoy, now may be the time to ask for a raise.

It is important to plan your request so that you stand the best chance of getting the raise you want and deserve. Here are some points to consider:

  • Do your homework on your company’s compensation plan. Make sure you know your company’s policies on raises including any maximum amount and specific times when raises are given.

  • Do your research on your supervisor’s expectations. How is your performance measured? Have you had a recent performance evaluation?

  • Make a list of your achievements. Especially consider any of your efforts that have resulted in an addition to your company’s bottom line.

  • Know what the competitor’s make. Research salary information to see if other companies are paying more for a similar position.

  • Ask for the raise. Remember to be professional and businesslike. Being prepared with the reasons and justifications for your raise, point out the specific contributions you have made. Be prepared to state how much of a raise you should be given.

  • If you don’t get the raise now, ask when you might be reconsidered and if you need to do anything additional to make the answer a “yes” next time.

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