“I haven’t had a pay raise in quite a while. I heard it’s not acceptable to ask for one, given today’s economy. Is this true?”
What does “quite a while” mean? Has it been 6 months? 1 year? 5 years?
To you it might seem like quite a while has passed since your last bump in pay, but has it really been a long time? Companies typically dish out pay raises at their discretion — usually a yearly task completed at the time of a person’s annual review. But as company landscapes continue to change and evolve, raises are increasingly decided on a case-by-case basis.
Times are tough and many companies (big and small) are tightening their belts to cut costs and offset reductions in sales. Some companies are faring better than others, yet statistics have shown companies in certain job sectors are gaining confidence and subsequently hiring … and in fact, have seen increases in sales and bottom-line revenues.
If you’re in a growing industry, great! If you’re in a lagging industry, beware.
You may feel deserving of a raise increase, but will your employer feel the same way?
Before asking for anything, take a good look at your employer and ponder a series of questions that should ultimately provide you with the answer you seek.
Is your company producing at full capacity?
Did they secure a big-ticket client or give the executive team a bonus?
How does your current salary compare to others in your position, industry, demographic?
Or, has your employer experienced a recent layoff?
Has there been a rash of employee turnover?
When businesses are doing well, the odds of negotiating an attractive pay raise are better … obviously. But when businesses *are not* doing well, you need to decide whether a raise is an absolute necessity, because there is a chance your employer will refuse your request. Rejection can sometimes be bruising to a person’s ego, and cause an abrupt job departure. Ensure you’re prepared for approval, but also ensure you’re mentally ready for rejection too.
What about negotiating perks beyond a pay raise? You could request:
Additional Vacation Days
Flexible Work Hours
Bigger Office
Longer Lunch Hour
Individual Administrative Help
Good luck to you!
[For more on this subject, check out The Art of Negotiating a Pay Raise, Promotion, Better Job Title, or Bonus before proceeding.
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