Securing A Pay Raise

The idea of asking for and negotiating a pay raise is enough to strike fear into the hearts of most people. It can be a daunting proposition, but it does not have to be exceedingly difficult if you prepare your strategy and gather the right information to support your case for a raise.

Seek a raise for the right reasons

Many people start thinking about a raise when they find themselves in financial difficulties or a personal budget crunch. As compelling as these reasons may seem to you, they are not valid reasons for seeking a pay raise. Your needs are not the company's concern, and if you use them as reasons why you should get a raise in pay you will only come across as whining and unprofessional.

Instead, seek a raise from the perspective of the benefit you bring to the company. How do you fulfill your employer's needs? How do you add value to the organization? What do you do for the company that improves the bottom line, increases productivity, or improves company performance in some measurable way? These are the types of reasons that you can take to your employer when seeking a pay raise.

Evaluate your skills in relation to your job description

A good first step is to evaluate your current skills and then compare them to your job description. Do you have skills that greatly exceed the needs of your job? Do you routinely handle tasks and responsibilities that are not included in the job description? In other words, take a look at your current strengths and determine if your qualifications have increased sufficiently to warrant a pay raise based on your job description.

Put together your performance record

One of the best ways to support a pay raise request is to bring together your past performance reviews and other performance records. Use this information to demonstrate that your performance has been exceptional enough to warrant a raise. Most employers look for measurable evidence to support your request for a raise, and a solid performance record is one of the very best ways to provide that evidence.

Evaluate the marketplace

Do some research into the salaries paid for comparable positions at other employers. Benchmarking information is available from many sources and can help you determine where you fall in the range of typical salary levels. Pay attention also to aspects of compensation other than salary, such as benefits and other perks that contribute to a total compensation package. Compare your total compensation package to benchmark information and use that during your pay raise negotiations.

Know the company policy

Read through your company's policies and procedures related to pay raises and salary issues. Some companies have specific procedures that you must follow to request a raise, or there may be restrictions on how long you must be employed in a particular position before you are eligible for a raise. If you are unsure of your company's policy, check with the human resources department for more information.

Timing is important

Timing your request for a pay raise is extremely important. You should schedule an appointment with your supervisor or manager at a time that is convenient for him or her. Avoid especially busy days of the week or times of the month, and be aware of overall company issues as well. If your company is entering a round of budget cuts then it is probably not the best time to seek a raise. On the other hand, if you have just received an outstanding performance review it is probably a good time to bring up the subject of salary.

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