To many of us asking for a raise is something we wait for after completing a huge successful work project or after spending years at a company. But in reality you don’t have to wait. Formulating a strategy on how to do it may be nerve wracking but if you end up getting a raise why not put in the extra effort to ask?
Even though you may feel entitled to a pay raise it’s important to not come across as audacious or forceful. Recently Barbara Corcoran, one of America’s famous business woman, responsible in part for building New York’s largest real estate company, did an interview on how to ask for a raise. Here are some tips according to Barbara on how to approach your boss:
- Make an appointment to ask for a raise even if you don’t expect to get it. Why? It sets you up for the next meeting in which you will likely get it.
- Make sure to take with you a list of responsibilities you had when you first started the company and a list of what you have taken on since you’ve worked there. This makes your boss aware on how you have grown and you’re delighted to grow but would like to be compensated.
- Name your number. Specify how much you’d like your raise to be. Women tend to not ask for a specific amount while men do. Barbara highly suggests to the shy women to think “what would a man do?”.
- Let’s say you don’t get the raise. Ask “what would merit a raise?” now you’d know once you’ve completed what was expected you can come back in and ask for that raise.
Some of us because we feel we’re not being compensated for our pay will first look for other offers and try to use that as leverage but here is what not to do in these situations:
- Do not just state you got a higher offer somewhere else. That implies you’re not a loyal employee and only want a raise. Instead, say you were surprised they are offering you a higher pay somewhere else and ask if they will level with you because you enjoy working where you work. This changes the tone of the conversation and your boss will be inclined to discuss your pay versus shooing you out the door.
- Do not ask why you have not gotten a raise. Instead ask what your future prospects look like within the company. With your boss’s response you’ll see whether or not you’re valued in the company. According to Barbara, the one thing you must be is valued and appreciated to be promoted.
Barbara Corcoran also states that women never ask for raises, they only ask for one if they absolutely must. Meanwhile, men ask all the time. So get to asking ladies!
xoxo,
Rose