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September 26, 2011

Getting a Raise Using the Prep Planner

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Jeff Cochran

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Getting a Raise Using the Prep Planner:

In today’s economic environment, it is harder than ever to get a raise at work.  On the other hand, people who have not had raises in several years may be in a great position to get that raise.  When we talk about effective preparation, it is important to have precedents to establish the justification of the salary you will request.  There are several precedents you can use:

Find out what other similar jobs pay (you can find them at payscale.com and glassdoor.com.)

Use prior percentages of increases that you have received in the past to justify that percentage again.

Uncover possible examples of ‘bonus for performance’ opportunities that have been given by your company.

Look for ancillary economic benefits provided to others in the organization such as company cars, additional vacation days, or opportunities to work from home.

While precedents are important to establish, the other elements of the preparation planner, such as you alternatives (and theirs), interests (what can you do to help the business make/save money), and walk away (your willingness to leave if you do not get the raise you want). 

While asking for a raise in these challenging times is difficult, it is often said: “much is lost for the want of asking…”

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