How to Ask for a Raise and Get it

niche_marketing1I had the opportunity to present a program on Live at Lakeside on How to Ask for a Raise. Following are the highlights of the presentation:

 

 

  1. Be realistic: Understand the market in which you work and what you are worth – rough idea – ask around since wages vary by cities.
  2. Know your company’s policy: some companies only provide raise once a year.
  3. Understand the state of your company: can it support a raise?
  4. Schedule time for the discussion: this should not be a drive-by ask.
  5. Justify your request: Build your business case to justify your ask (ways you’ve helped the company earn or save money- concrete dollar amounts).
  6. Present yourself well. You are selling yourself, present yourself in a professional manner for the ask.
  7. Avoid ultimatums and keep to the facts: Minimize your emotions, stick to the fact based on results.
  8. Ask and wait:  Like any good sales person, silence can be your best friend. After asking an important question, be silent.
  9. Build a plan: regardless of the response, work to understand the next steps and build a plan to get from where you are to where you want to go.
    1. Yes:  Understand when and how you will receive the raise
    2. No: Why not and what do you need to do to position yourself for a raise. Follow-up
  10. Thank You:  Thank your boss for their time and follow-up with a written thank you.

Click below to watch the show that aired March 5, 2013.