Getting your player ready...
If you’re hoping to earn more money this year, you need to do more than hope. It can take a lot of work to earn a raise, and it’s difficult to guarantee success.
You’ll never get a raise if you don’t take some basic steps. If any of the following sound like you, it’s probably time to get to work. 1. You don’t know the going rate. If you don’t do your homework during salary negotiations, it’s unlikely your employer will give you top dollar just to be nice. You need to know what people in similar position are earning and where you fit into the mix. “Compensation is a funny thing in that you can’t just ask your cubicle neighbor,” says Katie Bardaro, lead economist and analytics manager at PayScale.com. PayScale runs an online compensation survey where people provide information about their job and in return get a compensation report that outlines how their pay compares to others in the same location, same job, same type of employer and so on. Bardaro recommends anonymous services such as PayScale, which can give you quick and easy information to help you understand if you’re eligiblefor a raise. 2. You don’t know your value. It’s vital you understand the kind of value the labor market assigns (see point No. 1 above), but also what you offer your employer specifically, Bardaro says. She recommends you consider these types of questions: Are you an integral part of the team? If you left, would important projects fall apart? Do you have a lot of internal knowledge that is hard to learn? Would replacing you with someone who has the same skill set and knowledge be very costly in terms of time and effort? 3. You can’t justify it. You must be able to demonstrate what the company and your boss will gain by giving you a raise, says consultant Barry Maher. Also, simply talking about why you need a raise instead of using a list of accomplishments to demonstrate why you’ve earned it won’t get you more money.
And if you have any doubts that you deserve a raise, you’re not going to be able to persuade others you do.



