The Steps


Intro:
Before you begin
Step 1:
Research salaries in your field
Step 2:
Assess your own job performance
Step 3:
Evaluate your employer's economic health
Step 4:
Determine how much to ask for
Step 5:
Build a case
Step 6:
Be firm but flexible
Step 7:
Make the most of a "No"

 

 

Business


2torial #0488:
Learn2 Negotiate a Raise

Step 1Research salaries in
your field

Before deciding how big a raise to request, you need to find out what other people earn for performing similar functions. In order to replace you, your boss is going to have pay more or less the going rate, so you can use this as a benchmark. Of course, you cannot simply calculate the average salary of people in your profession, then ask for this amount. You must consider many other factors, so merely think of this sum as a starting point.

Where should you conduct your research? You could consider asking colleagues at work how much they're earning. However, such matters should be handled with discretion. You'll probably find it easier to consult with friends and acquaintances who have jobs similar to yours.

In addition, you should do some hard research either on the Internet or at the library. The Bureau of Labor Statistics publishes a Web site (http://stats.bls.gov/ocshome.htm) that offers a number of research tools that focus specifically on salaries. The Bureau also publishes the Occupational Outlook Handbook, available in most libraries. This annual publication gives detailed salary information organized by industry, as does the "American Salaries and Wages Survey," edited by Helen Fisher. To find out how salaries break down by specific region, try the Economic Research Institute's "Geographic Reference Report."

If you find your salary is below the mean, don't immediately go marching into your boss's full of righteous indignation. By the same token, don't rule out a raise just because you're already beating the industry average. You still need to consider other factors.

Go 2Step 2

 



 

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