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A Pay Raise: How to Get One

Posted By Administration, Tuesday, January 10, 2017

The job market is improving. Salaries are improving, too, says Willis Towers Watson. The firm estimates the average pay hike will be 3%. Those getting the best employee reviews will pick up an additional 1.6% to add to this year’s 3% average.


And for those not getting an automatic pay hike, or who didn’t get an outstanding review, you will find more job opportunities out there and more opportunities means you likely have more leverage with the boss when it comes to negotiating a better salary.


While not all employers are open to wage hikes and if yours isn’t, and if you’ve decided to brave the boss and go for it, there are five things you should do to prepare for the meeting.


Or so says job coach Michelle Woodward and others quoted in this story.


First, do your homework


  Figure out just how much you can realistically request

  If you’re brave enough, ask co-workers what they’re earning

  Or go to pay sites like Glassdoor or Payscale who post the market value of your job

  Put your proposal on paper

  Outline your workload and if it has increased, how

  Outline wins you’ve scored for the company or wins you participated in since your last pay raise (if you got one)


Career expert Jill Jacinto said, “You want to show not only that you’ve done your work, but that you’ve gone above and beyond what’s required in your job.”


Cash isn’t the end all


If your employer won’t give you cash, think of benefits you might want instead. Or consider proposing a combination of cash and benefits.


Some suggestions:


  Flexible work times and hours

  More vacation time

  A better title for the resume


Workplace author Vicky Oliver wrote 301 Smart Answers to Tough Business Etiquette Questions. She said, “If they have no money, there are things that can help your perception at work. They might be able to give you a title and a corner office, and then it will look like you’re making more, which will give you an easier case to make down the road.”


Practice makes perfect


Once you get it all figured out then practice your spiel out loud. It’s hard to ask for money. For some of us it is very uncomfortable. The better you know what you want and how to say it, the more likely you’ll succeed.


Start with pitching to yourself in the mirror. Once comfortable with that try it out on a spouse or friend. If you practice and know what you’re going to say, you’ll be more comfortable once you actually start.


If you really want to perfect the pitch, Career expert Nicole Williams says shoot a video and pay attention to body language, fidgeting or repetitive sentences or words. “In this conversation, presentation is everything. Watching yourself back can give you great insight,” she said.


This is business, don’t take it personally


Be professional no matter what. Yes, the topic can be emotionally tough for both you and the boss. However, career expert Julie Hochheiser Ilkovich says stay on pitch. Focus on why you deserve more money and make it about what you deserve and not what you need.


She also says do not bring up other workers or your workload compared to them. “This should really be a conversation about you and your job, and why you deserve more money based on your performance,” she added.


No can and might happen


There is a chance you won’t prevail. So now what? Career coach Caroline Ceniza-Levine said if the answer is negative, then ask the boss what you can do to turn that into a positive.


“When you hear ‘no,’ think of it more as a ‘not now,’ it could mean that if you ask in three months you’ll get a different response, or that if you asked in a different way you would have gotten different response,” she said.


When you get a “no” or a “no not now” that is when you kick a plan into effect to approach the subject in a few months. Spend that time tracking your workload, your work progress and other items that relate to your job.


Do this especially if your boss doesn’t give you things you can do to make a raise happen in the future.


Source link: MSN Money



Tags:  A Pay Raise: How to Get One  Insurance Content  Insurance Industry  Insurance News  Weekly Industry News 

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