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Your #Career : 4 Appropriate Times To Ask For A #Raise …When you Want a Raise, it’s Important to be Strategic about When you Make the Ask to your #Boss .

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We all want to earn as much money at our jobs as possible. After all, the higher our income, the more opportunities we have to save for retirement, put our kids through college, and afford life’s many luxuries. And if you’re underpaid, it absolutely makes sense to fight for a raise and get the salary you deserve.

But what if you do your research and discover that your salary actually is in line with what professionals with your job title are making in your area of the country? Does that mean that you should settle for your current wage, or make the case for more money?

It’s a less clear-cut scenario than the former, but if your performance is solid, you might manage to snag an increase, even if your earnings are already pretty fair. Here are a few scenarios, in particular, where it pays to have that conversation.

Related:5 Mistakes To Avoid When Asking For A Raise 

1. YOU HAVEN’T GOTTEN A RAISE IN QUITE SOME TIME

Some companies give out pay increases annually. Others award raises based on merit. And then there are those employers who rank their staff members and reward only those with the highest ratings with more money. No matter your company’s policy, if it’s been more than a year since you’ve gotten a pay boost, you’re a strong performer, and you’ve taken on a greater amount of responsibility in the interim, then you have every right to approach your boss and request an increase. But if your last raise happened not so long ago, it pays to hold off on that conversation to avoid backlash.

Related:How To Negotiate A Raise (Or Bonus) After Returning From Maternity Leave 

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2. YOU CAN SHOW HOW YOU’VE SAVED THE COMPANY MONEY OR ACTIVELY INCREASED REVENUE

If you’re earning a decent wage for your position and industry, you’ll need to make a strong case for eking out more money from your employer. But if you can prove, with data, that you’ve saved the company money, your manager might agree that you deserve extra compensation. The same holds true if your direct actions have resulted in an uptick in revenue — in that case, your boss might push to give you a tiny piece of those profits.

Effective as this approach might be, however, you’ll really need to go in with hard facts. Remember, it’s everyone’s job to contribute to cost savings and revenue one way or another, so you’ll need to prove that your unique contributions produced results that not only exceeded expectations, but far surpassed those of your peers.

Related:What To Do While You Wait For That Raise Or Promotion You’ve Been Promised 

3. YOU CONSISTENTLY GO ABOVE AND BEYOND

Maybe you’re being paid fairly and you’re not in a position to directly boost sales or shave costs. For example, if you’re an operations-support person, you might be that essential cog keeping the machine running–but quantifying your contributions with data may not be possible.

If that’s the case, then you still can argue for a raise if you’re known as that employee who constantly goes well above the call of duty. This could mean working the most hours of anyone on your team, or being that person who will jump in over the weekend in an emergency. Prove that the time you put in merits the higher compensation you’re after, and you just might get it.

There’s nothing wrong with asking for more money at your job, even if your salary is reasonable to begin with. Just go in knowing that your company may not comply, even if your performance is pretty outstanding.

Remember, employers expect their workers to do the best possible job and don’t always show their gratitude for it with money. On the other hand, if you’re a top performer with a solid reputation, it never hurts to request a salary boost. After all, the worst your company can say is no.

 

FastCompany.com | May 4, 2018 | BY MAURIE BACKMAN—THE MOTLEY FOOL 3 MINUTE READ

Your #Career : How to #Negotiate Beyond the Raise You Were Offered? ….You Get a Strong Review and the Same Old Mediocre 2% Merit Increase you Got Last Year. That’s Disappointing. Is There Anything you Can Do?

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It’s been a long year. You changed teams, picked up new projects, started mentoring a couple junior developers, wrote a couple spectacular white papers, or any number of other productive things.

If you follow these five steps and find that a larger raise isn’t available within a reasonable timeline, you may need to begin looking for better opportunities with more flexibility to pay you what you’re worth.

Now it’s performance review season, and you’re looking forward to a stellar review accompanied by a nice merit increase to reward all your hard work.

But that’s not how things turn out. Instead, you get a strong review and the same old mediocre 2% merit increase you got last year.

That’s disappointing. Is there anything you can do?

How do you negotiate a raise in addition to your merit increase?

Your instinct might be to march into your boss’ office and demand a bigger raise. To make a statement and get what’s rightfully yours!

That probably won’t end well, so it’s time to slow it down and make a plan.

Step 1: Set your expectations

First things first, let’s level set: It may not be possible to negotiate a raise in addition to your merit increase right now.

By the time your manager told you about that 2% raise, the company’s merit increase budget had been divvied up and things were pretty much written in stone. The company made a budget, then parsed it out among the business units, which divided their piece of the budget up among departments, which divided that budget up among managers.

Your manager did the best they could to be fair to everyone, and out tumbled your 2% merit increase.

If it’s even possible to change that amount, a lot of pieces would need to be moved around. It’s probably not going to happen.

Should You Ask For A Raise? Take Our Quiz!

Step 2: Do your homework so your manager doesn’t have to

But that doesn’t mean you shouldn’t ask! Most likely, your manager will let you know there’s no additional budget right now, but maybe they’ll be able to work with you to make something happen now or down the road.

Before you ask for a raise in addition to your merit increase, I recommend establishing the following three things:

  1. Your target salary—What is the specific raise amount you feel you have earned? You’ll start with your market value—Glassdoor will help with this—and then adjust your market value for your specific situation.
  2. Your accomplishments—What are the valuable responsibilities you’ve taken on that were unanticipated when your salary was last set? Make sure to identify the accomplishment itself and the business value of the accomplishment whenever possible.
  3. Your accolades—What awards or recognition have you gotten from colleagues, other managers, or clients? These can help your manager understand the value of your work even if they’ve been focused on other things.

It’s important to do this homework before asking your manager for a raise because managers are very busy people. The more work they need to do to help you out, the less likely they are to find the time to do it.

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Step 3: Start the conversation

Armed with those three pieces of information—your target salary, accomplishments, and accolades—you can approach your manager about an additional raise.

Here’s how to begin that conversation:

“I’m grateful for this merit increase—thank you for looking out for me. But I was hoping for a more substantial raise because I’ve taken on a lot of new responsibilities this year. Is there some way to adjust my salary to reflect my current responsibilities? Based on the market research I’ve done, I was hoping for a raise to [fusion_builder_container hundred_percent=”yes” overflow=”visible”][fusion_builder_row][fusion_builder_column type=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”no” center_content=”no” min_height=”none”][your target salary].”

Once you’ve begun the conversation, asking for a raise in addition to your merit increase will typically look like the same process as asking for an off-cycle raise. These email templates will help you follow up and continue working with your manager until you reach your goal.

Are You Paid Fairly? Try Know Your Worth

Step 4: Set a goal and establish a timeline

Hopefully, your manager will be prepared to have a productive conversationabout what’s possible, and you may get a larger raise right away.

But the most likely result is that your manager will explain that the budget has already been spent for this cycle, and you’ll need to wait until there’s budget available to increase your salary.

If your manager suggests deferring your larger raise until later on, work with them to establish two specific things that you can collaborate on:

  1. What you need to do to earn the raise you’ve requested—If you’re unable to get a larger raise because your manager feels you have not earned it yet. Ask specifically what you need to do to earn the raise you’ve asked for.
  2. A timeline—It’s also important to establish a timeline so that you and your manager can check in at regular intervals to monitor your progress and make sure you’re on track to achieve your goal in a reasonable time period.

Step 5: Work with your manager to reach your goal

Once you and your manager establish a goal and a timeline, it’s up to you to keep this on your manager’s radar. Make sure to check in with your manager at regular intervals to discuss your progress, get feedback, and confirm that you’re still on track.

You may also run into structural barriers that prevent you from getting a large raise at all. This is sometimes the case at very large companies, where they’ve established rigid guidelines for raises and promotions. “Do you have to quit your job to get a big raise?” can help you determine whether your company has flexibility to give big raises or if you might need to look elsewhere to level up your pay.

In the end, negotiating a raise in addition to your annual merit increase can be tricky. But there are things you can do to start the conversation with your manager and maybe even get a raise right away.

Follow these five steps to negotiate a raise in addition to your annual merit increase:

  1. Set your expectations
  2. Do your homework so your manager doesn’t have to
  3. Start the conversation
  4. Set a goal and establish a timeline
  5. Work with your manager to reach your goal

If you follow these five steps and find that a larger raise isn’t available within a reasonable timeline, you may need to begin looking for better opportunities with more flexibility to pay you what you’re worth.

Josh Doody is a professional salary negotiation coach who helps software developers get more high-quality job offers and negotiate higher salaries. You can learn his best salary negotiation strategies and tactics in his book Fearless Salary Negotiation: A step-by-step guide to getting paid what you’re worth. 

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Your #Career : This Is The Right And Wrong Time To Ask For A #Raise …The Timing of the Ask Matters as Much as your Arguments.

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You work hard, but do you get paid enough for it?  Knowing you’re underpaid is decidedly different from knowing when to ask for a raise. After all, timing is everything. You’ve probably heard someone say, “I’m going to ask for a raise, but I’m going to wait until I’ve been there for [fusion_builder_container hundred_percent=”yes” overflow=”visible”][fusion_builder_row][fusion_builder_column type=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”no” center_content=”no” min_height=”none”][X] months.”

Everyone’s different, but the best time to ask often corresponds with a set period of time (annual review, anyone?). Still, if you’re feeling the burden of work without the money to match, waiting a full year may not be the right move. Fortunately, we’ve got some common time frames for you, complete with ways to determine the right window for you.

BEFORE THE JOB

Salary negotiation is a necessary element of the job search, and we hear over and over again that women never ask for enough when answering the dreaded “salary requirements” question. There are various rules you can apply here (the easiest I’ve heard recently: ask for 20% more than the first number that comes into your head), but what happens when you don’t get the salary you’re seeking during the offer phase?

This puts you in a unique position, where you can actually try asking for a “raise” before you’ve started. In your negotiations, you can counter by asking that after a three- or six-month probation period, you get a salary bump. Let’s say you were hoping for $60,000 a year and your potential employer offers $55,000. If you firmly believe that $60,000 is your bottom line, but love the job, ask if they’d be willing to raise the salary after three months. Ideally, aim to have this raise actually written into your salary letter so there are no shocking disappointments a few months from now.

Related:Six Things You Can Negotiate For Other Than Your Salary

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THREE MONTHS IN

Not the right time. Period. We say this for several reasons, the most obvious one being that it’s just too soon.

But something else you might not have considered: Even if your position’s done a complete 180 since you started, you still don’t know your company that well after three months on the job. Studies show that it can take anywhere from eight weeks to six months to really settle into a new position, so play wait and see for now. If your company and position really has changed that much in the last 90 days, who knows what will happen in the next few weeks?

If you ask for the raise now and do somehow manage to land it, you definitely won’t be able to ask for another one in three months. Given that your job has evolved this much already, chances are that you’ll find yourself with even more responsibility later on–and no way to ask for more money. Save your ask until you really know what you’re dealing with and can ensure that your salary bump is consistent with your increased workload.

Related:5 Mistakes To Avoid When Asking For A Raise 

SIX MONTHS IN

This is tricky but not impossible. On two separate occasions, I’ve asked for and received a raise at six months with no resistance. But here’s the thing: In both cases, I had a sense that I could ask and would likely win out. Why?

I started in junior positions knowing (or I guess, hoping) that I could make up for my lack of experience with my dogged dedication. I knew myself well enough to know that I’m quick on my feet and a fast learner. By month six in both jobs, I’d assumed twice as much responsibility, established strong relationships with my coworkers and bosses, and started taking the lead on projects with clients. My job description (and therefore, salary) no longer remotely matched my actual work–and so those raises came naturally with a title change. I’d proven myself, and honestly, they were afraid to lose me.

None of this changed how I behaved when I actually asked, though. I still outlined clear evidence to prove my worth, regardless of how clear it was to the parties involved. If your position has evolved well beyond what you were hired to do, and you know that you’re an essential and appreciated member of the team, it doesn’t hurt to try. Keep in mind that they may still say no. If so, ask if you can revisit the conversation at the year mark.

THE YEAR MARK

Ah, the classic. Since many companies have a formal annual review process, it often makes the most sense to ask for a raise during that meeting. Come prepared to present your case, but hold off until you’ve actually heard your boss’s feedback.

But be honest with yourself before asking. How well have you actually been doing? Just because you want more money doesn’t mean you’ve earned it, and the year mark is by no means a guaranteed salary hike.

A raise isn’t a reward for not getting fired. So if you’ve been treading water in your position for the last 365 days, know that you haven’t demonstrated that you’re ripe for a raise. And if you get hit with some mediocre or even negative feedback in the review, don’t ask. Focus on your own responsibilities and ask when you believe you’ve made some serious improvements to your work.

Related:This Is The Script To Follow When You Ask For A Really Big Raise 

AT RANDOM

There are certain jobs where timing doesn’t matter as much as other elements, so you’ll need to ask when it feels right. If your job doesn’t have a formal review process, you may need to time your request more carefully, specifically after your boss gives you some positive, albeit informal, feedback. The same goes if your job is project-based. Let’s say you work at an ad agency and you blow it out of the water on a bigwig campaign, receiving recognition from your coworkers, your boss, and maybe even your boss’s boss. That’s prime time to consider pitching a raise (especially if this is the second or third successful campaign you’ve run this year). In these situational-based asks, let evidence be your guide. Walk in with a results-driven argument on why you deserve a reward.

In all cases, the key is to prepare your evidence before booking a meeting to discuss salary. Regardless of timing, you need to have your argument on lockdown.

 

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FastCompany.com | April 9, 2018 | KIT WARCHOL—CAREER CONTESSA 5 MINUTE READ

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Your #Career : 3 Signs It’s Time To Ask Your #Boss For That #Promotion …The Timing of your Ask is as Important as How you Ask. Here’s a Checklist to Know if the Moment is Ripe.

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You already know why you want a promotion: It will confirm what you’ve already accomplished in your role, validate your work and work ethic, and open paths for bigger and better projects. Ideally, it’ll also mean more pay.

But there’s a difference between wanting a promotion and being ready for it. In order to put your best foot forward with your manager, you need to be confident that the time is right. How can you ensure you’re not jumping the gun?

This three-part checklist can help you identify when you’re ready to make the most compelling pitch you possibly can.

1. YOU’VE BEEN DOING THE JOB YOU WANT TO BE PROMOTED TO FOR SIX MONTHS

This means you’ve been taking on more than what’s expected of your current role or level and performing well in that new scope. If you’re not sure where you stand, it’s a good time to have a check-in with your manager about her expectations for the level you’re hoping to reach, and the types of projects and impact you eventually want to make in a more senior role.

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What Skill Sets do You have to be ‘Sharpened’ ?

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2. YOUR WORK HAS HAD A VISIBLE IMPACT ON THE BUSINESS

It goes without saying that you should be making an impact at the team level, that’s part and parcel of your job. But the strongest cases for moving up a level at work rest on the contributions you make to projects that have a measurable impact on the business.

Looking at the work you’ve done in the past six months, identify the impact you’ve made for your team as well as for the business. That impact can be measurable (think revenue impact) or fuzzier (strategic impact)–so long as it’s visible and provable. For example, what part did you play to make sure that your team (and the company) met their sales target for the year? Did you propose a new idea to the higher-ups that they turned into company policy? To make your case, outline not just the business impact your work has driven, but also the alternate paths the team or company might have gone down without your work.

If you’re struggling to identify how your work fits into big-picture company goals, you might need to postpone your promotion request and instead work with your manager on a strategy to make your work more impactful.

3. YOU’VE MADE PROGRESS ON PREVIOUSLY IDENTIFIED DEVELOPMENT AREAS

If you’ve been in your role for at least six months, you should have gotten feedback by now on what you can to do improve. (If you haven’t, you should drop everything and ask for feedback now.) Have you made progress in the development areas your manager raised to you? Are some of these areas prerequisites for getting to the next level? If you’re excelling in them, it’s a great sign that now’s the time to make your case for a promotion.

Nodded your head to all these scenarios? You’re almost ready. Before approaching your manager, make sure you’ve gathered comprehensive documentation of your progress and performance. This should include specifics. Come armed with plenty of examples of how you’ve exceeded expectations, the measurable impact you’ve had on the business, and the progress you’ve made in the last six months.

At the same time, you’ll want to keep an open mind: Your manager will inevitably have a different perspective on your performance, impact, and progress. So take the time to compare notes in good faith and respectfully advocate for yourself. If you disagree, don’t be afraid to push back politely with concrete examples of your progress. By the end of the conversation, you and your boss should be able to arrive at a game plan you both feel comfortable with.

And yes, that may mean accepting a “not yet” to your promotion request. But you’ve at least laid out a reasonable timetable for getting to the next level.

ABOUT THE AUTHOR

Ximena Vengoechea is a design researcher, writer, and illustrator whose work on personal and professional development has been published in Inc., Newsweek, and HuffPost. She currently manages a team of researchers at Pinterest, in addition to leading a company-wide mentorship program.

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FastCompany.com | March 16, 2018 | BY XIMENA VENGOECHEA 3 MINUTE READ