How to ask for a raise from the boss
Updated: 2011-07-05 07:57
(China Daily)
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You have been working long hours and feel that you deserve more than what you are currently being paid, especially if your peers are earning significantly more than you.
Although negotiating a salary raise may not be easy, there are some strategic and tactical tips that can help you secure the increase you have been waiting for.
1. Ascertain your market worth
Research salary trends through news clippings, trade magazines, relevant employment ads or talk to executive search firms. If you have been working in the same company for several years, you may be surprised to know that there is often a huge discrepancy between your present salary and what the market is offering to others with comparable skills and experience.
2. Build a solid case
Justify your salary increase by basing it on your performance and contribution to the company. Always keep documentation of your work and track your performance for the most recent year, especially if you are anticipating requesting a pay increment.
3. The art of negotiation
Be realistic about what you are asking for and seek to understand the limits of your organization. The art of negotiation also requires you to be flexible and be open to other forms of compensation and benefits if the pay increment offered is not up to your expectations. Depending on what motivates you, you can request other perks that would satisfy you just as much as a pay rise.
4. Anticipate objections and issues
Be prepared for your boss to reject your request. List what you think would be the top five reasons why your boss might not want to give you a raise, and prepare your responses to the anticipated objections. You could even bring it up during your initial discussion to show that you understand the company's position, but offer equally powerful arguments on why you feel a raise is well deserved so that it makes it more difficult for your employer to object.
(Contact yangning@chinadaily.com.cn for questions and career advice)
Contributed by Carter Yang, managing director of Robert Walters Talent Consulting Ltd China.