Turning Dreams into Reality - Getting that Raise You Deserve

Turning Dreams into Reality
Getting that Raise You Deserve

Have you ever had this dream? You are working away at your desk one evening and your boss stops by. She asks if you have a moment to discuss an important matter. You stop what you are doing and enter her office. Then she begins to tell you what a wonderful job you have been doing over the past several months, so she is going to give you a raise. Before she discloses how much more money you will be making, the alarm goes off. You wake up disappointed, yet again. As you walk to the shower, you ask yourself, “How can I turn this dream into reality?”

Do Your Homework

Before deciding that you are worth more money, make sure the marketplace agrees. With Internet access, it’s a lot easier to do your homework these days. In fact, if you own a laptop, you don’t even have to get out of bed. 

Web sites, such as www.salary.com, can give you up-to-date information on what the marketplace is paying for someone with your skills, in your specific geographic area. You can also search job sites like www.monster.com and www.careerbuilder, which often contain job postings that include salary ranges. 

Talk with some headhunters to get their opinion on what type of salary you can command in the marketplace. Pull out any articles that support your idea that you should earn more, even if you think you know what you are worth. You might be surprised to learn that you are worth more than you thought, particularly if you have been with the same company for a while. In case you haven’t heard, a talent war has been going on while you have been busy working. 

Timing Is Everything

Here are some things to know before approaching your boss:

• The best time to go in and ask for a raise is after successfully completing a major project. When your contributions are fresh in your boss’s mind, your value to the organization will appear greater.
• Bring along any documentation regarding your solid work performance and contributions to your organization.
• Highlight any significant savings or profit increases that can be attributed to your efforts.
• Don’t wait until the company announces third quarter earnings are down. If this type of announcement occurs just prior to your asking for a raise, consider delaying your request until things appear to be heading on the upswing again.

Go In With Confidence

If you have done your homework and the timing is right, then there is no reason to lack confidence when approaching your boss for a raise. Don’t hint or allude to what you want. Be direct and support your request with facts.

Consider role-playing your request so that you come across confidently. 

Money Isn’t the Only Answer

If it is clear that your boss is unable to give you a monetary raise at this point in time and you enjoy your work situation, then consider asking for some extra benefits, such as a four-day workweek or reimbursement for a seminar you have been eyeing.

Remember -- it’s not just about money. If you enjoy your work and have some nice perks, then you are in a much better position than some colleagues who make more money than you do, but still hate their jobs. You don’t want to turn into them. They probably wake up in the middle of the night from nightmares about going to work.