3 Ways to Ask for a Raise in Today’s Economy

by Linsey Knerl · 0 comments

The economy is still in a slump, and it may seem that asking for a raise would be more of a faux pas than a smooth move.  There are reasons why a company would be more likely to consider bumping up your salary, however, and you can use these to your advantage.  Here are a few polite, yet effective, methods you can use to put more cash in your pocket. 

Assess Their Need – And Capitalize

The fact is that many companies may be putting off adding additional full or part-time employees due to fears about new health insurance regulations or even further market slumps.  In the meantime, they may have additional work that is simply not getting done.  Approach your boss with a proposal to help take on some additional responsibilities that would roll up nicely under what you are already doing, and see how much more you can earn in the process.  While you shouldn’t be expected to do the work of 1.5 employees, you can help streamline redundant jobs and get some extra compensation for your smarts. 

Check Your References
Do you often rub elbows with a major client in your off-hours?  Are you a major player in a charity that your company has a strategic partnership with?  If you can get a good word from someone with influence in your company, it’s likely that you could get a few extra dimes added on to your hourly rate.  While you’ll want to wait until the timing is right (during an annual review, for example), having the backing of someone with clout can be the difference between getting what you want and being passed over (yet again) for that raise.  Just be certain you aren’t name-dropping for the sake of looking impressive, and be prepared to back up your talk with a letter of recommendation or a phone call from the reference.

Know Your Worth
Are all of your friends with the exact same job description getting paid more than you?  It’s possible that you work for a company that is relatively cheap, and the odds of getting more cash are unlikely.  On the other hand, you may just have one of those unfortunate job titles that are difficult to place a value on.  “Social Media Managers” for example, can make anywhere from $25,000 – $75,000 a year (quite a range), and your boss may just need some qualified facts to justify giving you more than the lowest end of the spectrum.  If you find that your pay grade has been unnecessarily stifled by a lack of knowing what you should be making, speak up – tactfully – and give your boss what they need to adjust their pay grades accordingly.

Are you long overdue for a pay boost?  Does one of these methods suit your needs?  Don’t wait until your next review to get your plan together. By mapping out just how you’ll ask, you have a better chance of getting what you want!

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