Your Money_ The Missing Manual - J. D. Roth [54]
The best way to get a raise is, well, to ask for one. If you think you deserve a raise but haven't heard that anything is in the works, schedule a meeting with your manager. Keep these tips in mind:
Make your case. Draw up a list of ways you've helped the company, and try to state these achievements in dollar terms, if you can. For example: "By creating the new maintenance schedule for our delivery trucks, I've saved the business $10,000 over the past 3 months." Be honest and don't exaggerate. Try to think of things from the company's point of view—nobody's going to give you a raise just because you need extra cash.
Do your homework. Before you meet with your boss, have a target salary in mind. Use sites like PayScale.com, SalaryScout.com, and GlassDoor.com to research the going rate for similar jobs in your area. (Better yet, ask around to see what colleagues at other firms are earning.)
Seize the moment. The best time to ask for a raise is after a strong performance review or after your boss gives you new responsibilities. You're not entitled to a raise simply for coming to work every day, but you've got a right to request one if you're doing good work.
Don't complain. Be positive and professional: Emphasize your strengths and accomplishments, and give examples of how you've helped the company. Don't gripe about your workload or other employees.
Follow up. After your meeting, be sure to follow up on any promises your boss made. Get the details of the raise in writing, and keep an eye on your paycheck to make sure it goes up when it's supposed to.
Tip
If your boss turns down your request for a raise, ask what you need to do to earn one and when you can meet to discuss the subject again.
If you're really an asset to the company, they can almost always find enough money for a raise. Businesses know that it's better to pay a bit more to keep a proven performer than to go through the hassle and risk of hiring somebody new.
Note
Don't ask for a raise if your work isn't up to snuff. Raises are rewards, not entitlements. Your boss will be more willing to give you a raise if you make her life easier. That doesn't mean you have to suck up—just make her look good.
On The Money: Earning More Without a Raise
Raises and promotions aren't always options—especially in a rocky economy. Here are a few ways to get more for your labors—even if your paycheck stays the same:
Use your company's retirement plan. If your employer offers a retirement plan, take advantage of it—especially if the company matches your contributions. Never turn down free money! (See Chapter 13 for more on retirement savings.)
Refer a new employee. Some companies will pay you a bonus if you refer someone who ends up getting hired. (Check with your HR department for specifics.) At the very least, helping the company out this way will earn you some goodwill.
Improve your skills. Even if you didn't get a raise this year, you can increase your odds of future salary bumps by learning new things. Attend training sessions, go to seminars and conferences, and get certified in job-related skills. (Many companies will even pay for your classes.) You can then use your new skills at your current job—or to help you find a new one.
Ask for non-monetary rewards. If there's no room in your company's budget for a raise, ask for other compensation, like an extra week of vacation, a more flexible schedule, or a better parking space.
Network. Consciously build new connections inside and outside your company by doing things like joining committees and volunteering for the tasks nobody wants (taking on the tough jobs can bring you to the attention of your boss—or even your boss's boss).
Know the rules. Make sure you're familiar with all your company's policies. Reading the employee handbook is tedious, but you might find out about some little-known perks you can ask for.
Moving On
Few things last forever. Even if you love your job, you'll eventually