How to Get a Raise

Think you deserve a bigger paycheck? Want to ask for a raise but not sure you’ll get one?

Plenty of employees are finding themselves in this predicament, because many recession-wary companies that stopped handing out raises during the economic downturn are still hesitant to open their wallets today. But career experts say that despite all the penny-pinching, a salary hike isn’t necessarily out of the question–so you might as well ask.

“Clearly most companies today are not looking for opportunities to hand out money,” says Lynn Taylor, a national workplace expert and author of Tame Your Terrible Office Tyrant. “During the boom era of the late ’90s when talent was scarce and retention was top of mind, nearly the opposite was true. While the corporate landscape is different now, you shouldn’t sit idly and feel dissatisfied in silence. If you have supportive evidence your salary is at sub-market levels, you should speak up.”

She says it is possible to get a raise, even in an environment where money isn’t exactly falling from trees. “Your organization has invested time and money in you. Savvy bosses understand that unhappy and underpaid employees are under-performing employees, which helps no one. It’s a drain on their time to have to re-hire and train a replacement that fits the corporate culture. So if you have a legitimate request, you do have a certain amount of leverage.”

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Connie Thanasoulis-Cerrachio, a career expert and co-founder of SixFigureStart, a career coaching firm, agrees. “I think it’s always a good idea to ask for a raise, even when employers are not handing them out,” she says. “But only when that discussion is tied to performance.” Employees should keep careful records of how their actions helped the bottom line of their company, or helped other team members improve the bottom line of the company, she suggests. “No one is going to hold your hand and remind you of the great things you did all year,” she adds, so keep track and share them with your manager at the appropriate time.

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Asking for a pay raise is a delicate conversation and something you should not do without careful planning, says Dr. Katharine Brooks, director of Liberal Arts Career Services at The University of Texas at Austin and author of You Majored in What? Mapping Your Path from Chaos to Career. “Being prepared can help you overcome your hesitation.”

Aside from keeping track of your accomplishments and contributions, you can plan by thinking about things like timing. “This is key,” Brooks says. “If others are being laid off, or there has been a cutback in revenues to the organization, that is generally not the time to ask for a raise. Wait for things to settle, then assess the situation. Perhaps you are now doing the work of two former workers, or you have brought in more revenue than in previous years. Wait until you can approach from a positive rather than negative stance.”

culled from forbes.com