Ok – so you’re going into 2018 with the New Year’s resolution of making more money!
Well, DMD has these quick tips:
- Do your research. Evidence, Evidence, evidence! You know you’re worth more than the company is paying you, but if you can present evidence to back up that claim, you’re more likely to get results. Sites like salary.com and glassdoor.com are great starting points to gather data regarding typical earnings comparisons.
- It’s all about the timing. So, you just completed a major project, landed a new client or been given new responsibilities. That is indeed the perfect time to ask for the additional compensation commensurate with your new level of responsibility. However, if you’ve only been there a few months or the industry is in a lull, now may not be the right time. Mark your calendar to assess the situation again in 90 days and secure as many new accomplishments as you can during that time.
- It is not personal. You might really want, or need, a raise to pay for your child’s tuition or a dream vacation, but truth be told, the reason you’re seeking a raise isn’t typically relevant. Therefore, rather than asking for an increase for a personal reason, make a solid business case as to why you deserve a raise that relates directly to accomplishments and impact statements.
- Highlight the impact you have made to the company. Before you have the conversation to ask for a raise, make a list of the results of your hard work and the impact you have had on the company. I coach my clients to make a list of what they are most proud of last year. That usually translates into the positive impact for the company that you can easily and honestly speak about during this conversation about increasing your pay.
- Practice, practice, practice! It’s easy to get flustered or emotional when asking for a raise. Enlist the help of a friend or professional to roleplay the scenario. This will allow you to work out any kinks and nervous reactions in a safe place. So, need a pro to help? Ask friends and family to give the gift that truly keeps on giving – a holiday gift card to DMD & Associates, Inc. career coaching services.https://dmdcareerconsulting.com/career-consulting/