Be Prepared When Asking For That Raise

You want more money. Maybe your outflow is exceeding your income. Maybe you believe you’re not paid what you’re worth, and you can’t stand it a minute longer.

In either case, let’s start with this scenario:

You have a job. You like it. You want to keep it. But you want a raise - a just-for-me, I-don’t-care-what-the-raise-pool-is, and I-know-it’s-not-my-anniversary-date kind of raise.

How do you get it?

First off, it’s realistic to expect you won’t. Rigid budgeting and fear of backlash from other workers prevent many organizations from doling out financial rewards, regardless of individual merit.

Also, if the company’s financial picture isn’t glowing, there’s a good chance bad timing will destroy any consideration of a raise. You may be wise to wait a quarter or two to find a better time.

But let’s assume you can’t wait. You’re going for it now. What are the best tactics to use to get a raise?

First, you must summon the courage to ask. For many, the quest for a raise ends right there. You must, said career counselor Kathy Boas, “take a nothing ventured, nothing gained” attitude.

Then arm yourself with facts and persuasion. Career advisers, bosses and successful raise-getters suggest these steps:

Know what your job is worth. Most people are embarrassed or reluctant to talk about pay, but it will help you. Try getting salary ranges from peers in the industry, from human relations departments that do the hiring and from compensation consultants.

Look in library resource books or on the World Wide Web for wage and salary guides. You need this information to know whether you’re hitting within the ballpark.

Take safe aim. If you’re gunning for an out-of-cycle raise - with no promotion attached - you don’t want to aim so high you’re laughed out of the office. A 5 percent to 8 percent raise is a reasonable goal.

Understand what’s going on in your company. Don’t blow a chance to be heard by taking an “I deserve it” stance when the organization is suffering budget cuts, hiring freezes or the like. Consider whether everyone else is hurting and/or begging, too.

And never base your case solely on “I want it.”

Collect the facts. Know exactly what you make. Know how long you have made that amount. Know what the industry norms say you should be making. Know the size of raise you’re seeking. Write down the numbers so there’ll be no fumbling.

Create a case. Keep a scrupulous log of your accomplishments, of all the times you exceeded your supervisors’ expectations, all of your complimentary notes.

Make an exhaustive list of the times since your last raise that you were indispensable,that you saved a bundle of money, that you did something your co-workers didn’t believe could be done.

Be prepared to suggest options. If it looks as though there’s absolutely no way you’re going to get a raise - but the boss agrees you’ve been doing outstanding work - offer options. How about an extra week of paid vacation? A gift of company stock? A one-time bonus? A company-paid dental plan for your family? Membership in a club or professional association? Company payments for continuing education classes, seminars or conventions?

Again, nothing ventured, nothing gained. Any of these options may provide psychological, if not financial, rewards.

Decide whether you’re prepared to leave. If it looks as though your employer will not agree to a raise any time soon, and if getting more money has become a big motivator, then you may have to look for another job.

People who change jobs are more likely to earn significant pay increases than those who stay put. Have an honest and serious talk with yourself and your family to decide whether it’s time to job hunt.

Women and Work appears Tuesdays on the INLife People page.