Many employees dread asking for a raise, even if they deserve it. Knowing when you’re in a perfect situation for salary negotiation can take the edge off, however.
“Negotiating a pay raise is about timing, belief in oneself, and ability to articulate and support the case for a pay raise,” said Andrew Snyder, a psychotherapist and executive coach.
GOBankingRates spoke to a number of career experts about scenarios where the employee may have the upper hand in asking for a raise. Learn the tips and tactics for negotiating a better salary.
1. The Market Rate for Your Job Is Higher Than You’re Being Paid
You’ve done your homework on the pay rate for your position and realize you’re underpaid. You can use the compensation rates to your advantage when you choose to have the pay discussion with your boss. Just make sure you’re comparing apples to apples.
“When evaluating compensation, it is not just about money,” said Kathy Downs, a vice president at Robert Half Finance & Accounting. “How much vacation time do you have? Do you have flexibility as a valued employee that you may not enjoy with another employer? What is your potential upward mobility over the next couple of years? Make sure you’re looking at the full package.”
Of course, just because the market rate for your position is higher than you are being paid doesn’t mean you’re going to immediately get a raise or that your employer can afford to pay you more. In that situation, it might be better to move to a city with more opportunities.
2. You’ve Taken on Additional Job Responsibilities
Have your job duties expanded substantially? Is your to-do list longer than your monthly grocery list? If so, it might be time to speak up.
“When you’re asked to take on responsibilities not in your original job description or you’re supervising more people, these can be good times to ask for a higher salary,” said Downs.
Source: Money
The post 15 Times You’re in Prime Position to Ask for a Raise appeared first on Compliancex.
June 06, 2017 at 09:21PM
from The Compliance Exchange
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