You work hard. But does your employer return the love? If your salary is not as high as you deserve, what can you do to win a pay raise?
This is a good time to ask for one.
Amid a tight U.S. labor market, only 3% of companies are not planning to boost salaries next year, says giant advisory firm Willis Watson Towers. And pay raises for white-collar workers — executives, managers and professional employees — will average 3%. That's up from 2.7% this year.
Pay Raise: How To Get One
So how can you get in on that corporate largesse? How can you wrangle a pay raise from your boss, whether he or she's a managerial dream or a skin flint?
Executive talent hunters and business advisors offer 10 do's and don'ts for people who want to ask for a pay raise.
Stick To The Facts
Do focus on performance. "Always focus on performance," said Eric Harkins, president of GKG Search & Consulting, a national executive search firm based in Minneapolis. "Don't make your request personal. And don't make it about other workers."
What does avoiding making it personal mean? Toby Mathis, managing partner of Anderson Business Advisors, based in Las Vegas, said, "I don't like it when an employee says I have bills. Or I have a new car. Well, I don't drive your new car. That's not my problem. My problem is how do I make my company more productive. So what are you doing to help me accomplish that?"
Do talk data and numbers. "The conversation should be about what's your value to the company," said Carine Schneider, president, AST Private Company Solutions, in Menlo Park, Calif.
Harkins said: "Explain how you help your company make money. Spell it out for your boss."
Leave Emotions Out
Do discuss meeting your goals. If you helped it make as much money or more than you were asked to at the beginning of the year, point that out. "Frame your accomplishments in terms of meeting goals your boss set," Harkins said. "How did you do vs. your last performance review?"
Do list your achievements. Point out which problems you solved, Harkins says. What creative solutions did you come up with? Which teams did you join? What challenges did you volunteer to resolve? Which skills have you improved since your last pay raise? If you can, point out a dollar value for each accomplishment.
Get Organized Before Asking For A Pay Raise
Don't be Mickey Mouse. Instead of touting routine things, cite accomplishments that involved going beyond what your job normally calls for, Harkins says. Focus on highlights. List innovations, new clients you landed and other accomplishments "that make both you and the company look good," Mathis said.
Don't talk generalities. Instead, be specific. Put the pay you're requesting into the context of what others earn, either within your company or nationwide. "Your employer might say, well, what salary or number do you have in mind? Have a specific number ready," Harkins said.
Don't talk nonsense. "Don't compare a tech job in California to a consumer goods job in Nebraska just because they happen to have the same title," Schneider said.
Make It Easy For Your Boss To Grant A Pay Raise
Do stay positive. "As difficult as the conversation might be, stay positive," Harkins said. "Make sure there is at least one person in the room who stays upbeat — you." And if you are turned down? "Thank your boss for giving your request consideration," Harkins said. "Then ask what you need to do to revisit this conversation. This also shows your problem-solving skills."
Do be flexible. Staying positive can require you to make lemonade out of lemons. If your boss can't give you a pay raise in your current job, be open to moving to a different position within the company. "If it sounds like a move like that would require training, ask what training you would need," Mathis said.
Keep Your Pay-Raise Strategy Flexible
Don't demand a raise, unless ... "Don't say this pay raise needs to happen or else," Harkins said. "Unless you're prepared for your employer to call your bluff, don't make your request for a raise into an ultimatum."
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