Think you deserve a raise but are afraid to ask for it? A recent Harvard Business Review story touches on the subject and warns that if you don’t ask for it soon, you may loose enthusiasm for your job and start to perform poorly. Although you might not have the confidence to ask for it right away, you can take the following four steps toward acknowledging your self-worth and learn to sell it within your company, according to Lolly Daskal, the CEO of a global coaching firm. Here's how you ask for a raise.
- Develop a sense of urgency. It may seem risky to ask for a raise, but if you feel you deserve it, step up and ask. “Recognize that if you don’t take action, your dissatisfaction may leak out through words or deeds and damage the reputation you’ve worked so hard to cultivate,” explains Daskal.
- Boost confidence with competitive research. Find out what your competitors are offering for your position. If you can, compare your compensation to that of other people at your company. This will give you baseline information for any negotiation.
- Perform a personal assessment. Make a list of all the things that set you apart from others in your organization. Write down what makes you a unique employ. “Look for documented instances where goals have been met, sales and revenue earned, detailed performance statistics, initiatives you’ve undertaken, and key areas where you’ve demonstrated your loyalty and commitment,” says Daskal.
- Prepare for pushback. Anticipate and prepare for potential objections, and don’t let them deflate your confidence. Do some practice sessions with a friend or family member so you know what you’re going to say. Focus the conversation on understanding your compensation. Hopefully, your boss will respect your achievements and your confidence for asking for a raise.
To learn more about this subject, read How to Get a Raise.
Have you ever asked your boss for a raise?