Last October I posted Ask for a Raise the Right Way with good tips and infographic.
You absolutely must do your homework to effectively leverage your value to your employer. Start with your accomplishments – the stand out things you did this year. But go further. Update your inventory of the knowledge and skills you use to accomplish your assignments. Then, add what you did that was different than others and made it successful, quicker, cheaper, sustainable. Add all quantifiable results. Do this for every task. Now, go back over the list and mark which skills or knowledge you’ve acquired in the last year. Show in quantifiable detail how you’ve overcome extenuating circumstances to achieve measurable results. That is what you want to discuss for a raise – how you’ve increased your value to your employer.
Know your organization’s policy and process for giving raises. Yes, there are exceptions, but it helps to know the basics.
Have a reality check conversation with your mentor and two other knowledgeable people about the percentage increase you can ask for without being laughed at. What is your organization’s current business environment? What is this year’s average salary increase?
Have you noticed all of this is about the organization, not about your personal financial needs?
Discuss with your boss how your work contributes to the organization’s growth. Talk about how your work helps your boss attain her goals. Alignment is key. It helps you focus and work on the high priority things.
If your boss hasn’t already offered you the raise, ask for it. Make no assumptions. You don’t know if you don’t ask!