Dear Boss, I’m working like a dog. I’m due for a raise

Do you deserve an increase?

John F Kennedy, 35th president once said, “Let us never negotiate out of fear, but never fear to negotiate.” Anyone trying to negotiate terms while on his knees is doomed to failure before he reaches square one.

What are you offering?

When you come to negotiate your salary, an increase to your salary or a price for your services, you must be clear about what you are offering in return for your price. Why should they hire you before other contenders for the job? Are you a worthwhile investment? People are employed not only for their attributes but for their attitude and potential. Make sure you spell this out at an interview or review situation.

Holding a good job opens many doors for you and qualifies you for benefits such as Payday Loans, something you cannot get without a salary.

Think and research

If you want a salary increase, develop a plan that offers added value for your employer. Research the industry and compare yourself to others in similar positions. Focus on benefits to the company but mention the rising cost of living and your increased responsibilities. The boss is more likely to consider a salary increase, especially if your argument makes good sense and is honest.

Aim even higher

Propose an incentive for a modest share in the profits or for any situation where you can earn more than you do at present. Request increased responsibility, volunteer working longer working hours or taking on more varied tasks. To earn more, you need to give more. This is the ‘win-win’ situation, where both parties feel that they have found value in the proposal.

A few confidence building tips:

• Look the part – if you want serious money, look serious and dress seriously;
• Look your boss in the eye and hold that eye contact when the price of value is mentioned;
• Smile and be friendly – be assertive but not aggressive;
• Don’t oversell yourself;
• Listen but know when to be quiet – do not try to fill silence when someone is making a decision;
• Know who you are negotiating with, their style of doing business, their budgets, how they like to allocate as well their fiscal;
• Know exactly how much you want or what you are looking for, and build in a margin for compromise or dropping your price;
• Be positive, if you are not successful this time, you may well be successful next time; and
• Be confident about yourself and your abilities.

Remember the timing

Remember that the company probably has its own policies in terms of the amount of time between reviews and raises and these may define when it’s “acceptable” to ask for a raise. Timing here refers to the company’s current financial situation as well as the general economic climate. Timing also refers to where you are in terms of your work and major projects. Obviously, it makes sense to ask for a raise:

• When you have just had a major success.
• Within the normal parameters of company policy.
• When the company is in sound financial standing.