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| | The Public Speaking - The Essential Skill Network is not currently active and cannot accept new posts | | Show Me the Money: How to Ask for a Raise | Views: 731 | | Dec 07, 2006 7:41 pm | | Show Me the Money: How to Ask for a Raise | # | 
Colin Mooney | | With 2007 rapidly approaching, thought this was worth sharing. Article from Life Script, written by Carly Young.
Need one good reason to ask for a raise?
How about one million?
According to Glamour magazine, a woman who never negotiates for a pay hike loses an average of $1 million over the course of her career. Don’t wait for your boss to bring up the matter of money. Take your future into your own hands by learning how to get the salary you deserve – no matter what field you’re in.
Plus: Is it time for a new job?
Be Aggressive.
Men are four times more likely than women to ask for a raise, according to Glamour. Why do we stand by idly while the boys make bigger bucks? “Men are not necessarily better workers than women,” says Michael Erwin, Senior Career Advisor for careerbuilder.com. “But they tend to be more aggressive in the workplace. They’re more likely than women to feel that they need to be receiving something more.”
So when it comes to pay raises, think like a guy. If you devote yourself to your job and produce high-quality work, you should be compensated for it. Asking your boss for a raise can be “one of the most uncomfortable conversations you’ll ever have,” says Erwin. But to get the salary you deserve, you’ve gotta do it. Take the initiative and schedule a meeting with the head honcho. The meeting with your boss is crucial, but the real work begins months beforehand.
Work It.
“A raise is based on your performance,” Erwin says. If you’re planning to ask your boss for more money, you need to produce high-quality work. Go above and beyond your regular assignments. Volunteer for a tough project that no one else wants or hone your skills by taking an evening class in your field.
Another tack: Target one aspect of your job for improvement.
For example, if you’re in marketing, work to boost your sales by 10 percent. Remember, too, that “forming a connection with your boss is key,” says Sharon Jordan-Evans, coauthor of Love it Don’t Leave It: 26 Ways to Get What You Want at Work (Berrett-Koehler, 2003). You don’t have to be best buds, but go out to lunch with your boss every now and then, and never underestimate the power of a water cooler conversation. Once you’ve demonstrated your ability in your field and established a relationship with your boss, it’s time to talk money.
How Much is Enough?
If you ask for too much, your boss won’t take you seriously. But if you ask for too little, you’ll sell yourself short. Do some research and find out what others in your field are making. Keep in mind that comparing your salary to your coworkers’ is bad office politics. “Never give an inkling that you know what your coworkers make,” Erwin says. Instead, look up your market value online. He recommends cbsalary.com, a site that provides salary ranges based on your education, skill level and years of experience in your field. You can also check out payscale.com.
The Conversation
Once again, take a hint from the boys—the Boy Scouts to be exact: Be prepared! Before your meeting, “write down five points that show why you should be [compensated], and be very specific,” Erwin says. Were you instrumental in revamping the company finances? Have you learned and applied vital new tech skills? Practice selling yourself in front of the mirror, or even to your dog. When it’s time to face your boss, you’ll be glad you rehearsed. On game day, act self-assured and confident. “Don’t beat around the bush,” says Erwin. Tell your boss exactly what you’re asking for and why you deserve it.
My Boss Said No…Now What?
If your boss refuses your request for a raise, don’t pout or threaten to quit. “You need to be open to any type of response from your boss, including no,” says Jordan-Evans. If you know how to negotiate, you might still walk away with something. “Compensation doesn’t always come in the form of a salary raise,” says Erwin. If you can’t get a pay hike, ask for extra vacation days or flex time.
When negotiating for perks, keep the WIIFT—What’s In It For Them—in mind, advises Jordan-Evans. Whether you want to work at home one day a week or hire an assistant, ask yourself how it might benefit your boss. Are you able to concentrate better at home and therefore produce higher-quality work? Could an assistant handle paperwork and free up your time to focus on key clients? No matter what you’re asking for, put yourself in your boss’s shoes. He or she will be much more likely to grant your request if there’s a clear benefit for the company.
What’s Next?
If you didn’t get the raise you wanted, you could still make more money down the road. Ask your boss what you would need to do to increase your pay, suggests Erwin. Revamp your current work style? Take on an extra project? By proving that you’re willing to work hard to earn more, “you show your boss that you’re being proactive and want to invest in the company,” Erwin says. If your manager turned down your raise request, Jordan-Evans advises asking: “If not now, when?”
Is It Time for a New Job?
You love your coworkers but hate the huge workload. The commute is crazy but the pay is great. So what makes a job a keeper? If you've been contemplating switching jobs, you should be confident in your decision, not conflicted. Look for other options. There are plenty available.
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Great advice.
The "Secret" to a good life...Take control.
Have a Merry Christmas and Proserous New Year.
Col Mooney
www.diamondfocus.biz
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