Money Matters – Asking For A Salary Increase The Right Way

As 2013 working operations kick into full gear, people are often left feeling a little down. The festive season generally implies excess spending, excess eating and excess resistance to the new working year. For this reason the only redeeming factor is the promise of a salary increase. Unfortunately most people are not fortunate enough to be granted one. You can of course increase the chance of getting that raise by taking the right approach. Here are a few tips that could help your cause.

Initiate

Asking for a salary increase should not be a brief scheduled meeting, resulting in a simple “yes” or “no” outcome. There needs to be a more substantial discourse involved and 9 times out of 10 your boss won’t be the one to initiate that discourse. It’s all on you. It’s much easier for a manager not to alter the status quo, so catch them on a good day and your initiative could see your bank account looking much more attractive.

Putting the “Negotiate” in “Negotiate”

There is often negotiation that needs to occur in order to find a time to negotiate a salary increase. Salary reviews or even broader yearly reviews are never managers’ favourite occasions. Sometimes it’s very hard to keep your boss from delaying meetings or else making them very brief and general. The “if you ignore it it might go away” approach has proved successful for many people and so it’s important that you are firm in your negotiation to determine a fixed time to meet.

Focus

People tend to search high and low for supporting evidence in their quest for a salary increase. But it’s not necessary to lay out 15 reasons why you think you deserve the raise. Bullet-pointing a list of reasons and sending out a letter regarding your desired salary increase to your boss could be detrimental to your chances. Take a couple of solid reasons why you feel you deserve the increase into a prearranged meeting. Tangible results, working extra hours, being a mentor to more inexperienced staff are a few potential key points. Choose wisely and focus on these points.

A Different Angle

A salary increase is never an easy thing to approve as a boss and very challenging to negotiate as an employee. What many employees don’t seem to remember is that there are other perks available that may not directly deposit more money into your account but are just as worthwhile. Bosses are more likely to grant you other benefits such as bumping up your medical aid scheme or your pension plan. How about getting more paid leave or being given the opportunity to take up extra training courses that will add value to your credentials – increasing your chances of being able to negotiate higher salaries in the future. These are all factors that come into play when trying to negotiate a fair salary increase.

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Dave Peterson has seen the world on his business travels. Whether it’s attending a conference in London or searching for Atlanta office space, both his passport and diary is full of stamps and entries.