Newsletter Archives /Today's Career Voice - January 2009
Asking For a Raise During a Recession
Economic recessions are tough, and they make asking for (and getting) a raise even tougher. Most companies are tightening belts and watching spending much more closely. However, there are a few strategies you can use to make a convincing argument for the pay increase you feel you deserve.
Most of all, remember to be confident.
It’s important to be willing to market yourself. You are your best advocate, so don’t be timid. Being respectful and unpretentious is key, but it’s okay to openly discuss your accomplishments, talents, and work ethic. Sell yourself as a vital member of your team and the company.
Have some supporting statistics.
When your boss asks why you deserve a raise, be ready to answer. Prepare to have proof of why you’re a head above the rest. How have you helped the business develop? How have you improved the bottom line? What ways have you contributed that set you apart?
Set a formal meeting.
Don’t ambush your boss with a sudden request for a bigger salary. You boss won’t be able to give you his or her full attention unless you request a set meeting time where you can discuss the matter directly in privacy.
Be realistic.
Think about what you are worth as well as what your job is worth to you. Be reasonable when you decide what salary to ask for. If possible, research your company’s negotiation process and procedures.
Consider job hunting.
A job search could help you in several ways. You never know—you might find a wonderful opportunity that you didn’t know about before. Another job offer could also give you the leverage you might need to swing a pay increase. But beware, because this tactic could backfire if you are not prepared to leave your current job.
