Evidence of the value you add to your employer (including receipts, records, emails and any other documents that support your claims)

Information about salaries for positions similar to yours (garnered from advertised positions as well as industry reports)

Knowledge of your employer's financial state (based on official company reports as well as any "insider" knowledge you might have as an employee)

Internet access (optional)

Access to your public library

Patience (so you can wait for the right time to ask)

Tact (so that you'll ask firmly but respectfully)

A few days:

• Two to three hours to research salaries
• Two to three hours to document your accomplishments
• One to two hours to draft any written correspondence, practice in front of a mirror, etc.
• Plenty of time to decide exactly how much to ask for and when to do it

Ask for more than you'd settle for. If your employer agrees to the higher rate, so much the better. If not, you'll still have bargaining room.

Once you have compiled all the appropriate information you need before asking for your raise, tailor it to your individual managers' interests. Bring attention to those projects you completed that they supported, or on the aspects of your work they value most.

Time your request carefully. If business is slow, or a big contract is up in the air, consider putting off your request until financial conditions are more settled.

Ask for a raise when your employer is in a good mood. Psychologists have shown that happy bosses are more likely to say yes.

2torial #0488: Learn2 Negotiate a Raise When a slap on the back just isn't enough If you think you've been going above and beyond at work--and think your salary should do the same--it may be time to let your boss know how you feel. Easier said than done, of course. Knowing how and when to broach the subject of compensation is something of an art. Some people would rather walk across white-hot coals than make demands on their employer. Others relish conflict, and must be restrained from proclaiming their vast self-worth and threatening to quit if their demands are not met. Neither extreme is likely to result in better pay. Whether you're a shrinking violet or the cheeky type, the following steps will help you steer a middle course and construct a winning strategy. Warning! The following concepts may be totally unrelated: What you're paid What you deserve What you think you deserve What your boss thinks you deserve What your boss is able to pay A wide variety of forces are in play whenever you ask for a raise, and there's no clear-cut formula you can use to calculate the exact salary you should receive. You must ask yourself many questions: Is business booming or busting? Is your boss aware of any extra projects you've been taking on? How easy would it be to replace you? In many cases, managers aren't aware that an employee is unhappy with his or her salary. Say you've been mulling over your salary in private for quite a while. When you finally summon the courage to ask for a raise, you expect it all to go through immediately. Your manager may also need some time to consider your request. Even if he or she is receptive to the idea, it may take some time for your raise request to make it through the rest of your company's management structure. Because there's so much to consider, don't rush the process. Take plenty of time to decide how much to ask for, and how and when to ask for it. And be sure you take a good, honest look at both your performance and the financial health of your employer. Research 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. Assess your own job performance If you want a raise, you need to prove you're worth the extra money. That means you must take a long, hard and honest look at what you do for the company. And remember, working overtime isn't enough--you need actually to accomplish something during those extra hours. Rather than thinking about how hard you're working, consider what you're actually getting done. And don't neglect the less obvious ways you're "adding value" to the company. Consider the following: Quantity: Do you produce more widgets than you're expected to? More than your fellow employees? More than the industry average? Quality: Are your widgets better than the average widget? If so, how does this benefit the company? Does it attract more clients? Or save company resources (i.e. supervisory time)? Additional tasks: The workplace is dynamic, and we're often expected to perform tasks other than those we were originally hired to do. Keep track of all the various tasks you perform at work--your employer may not realize you're the one picking up the slack. Additional responsibilities: Have you taken on any supervisory functions for which you were not originally hired? List projects you have you taken official or unofficial charge of, ensuring they're done well and/or on time. Conserving company resources: Ask yourself whether you've streamlined production--and production costs--and/or steered your employer clear of unnecessary expenditures. Evaluate your employer's economic health Let's say you're receiving a below-average salary for an above-average performance. You deserve to get a raise, right? Sure, you deserve it, but unfortunately, there's a third thing to consider: your employer's financial health. If times are good, you're right to put on the pressure. But if pockets are empty, no one's going to pull out a rabbit just for you. Ask yourself the following questions: Is business expanding? Contracting? Staying more or less the same? Is your employer hiring new workers or laying off old ones? Do you work for a wealthy corporation with a history of high profitability? A struggling start-up? A non-profit agency? What are the future prospects of your employer, and the industry as a whole? Determine how much to ask for Once you've considered prevailing salaries, your own job performance, and your employer's financial health, you're ready to determine a fair salary. Again, there's no formula, but an acceptable range should become clear in your mind. Your first step is to find out as much as you can about your company's compensation policies; working within the current salary plan is your best bet for securing a raise. You'll need to answer some basic questions: Does your company have a standard range for pay raises? What's the maximum? When are raises given? Who has the final approval over raise requests? Just remember: you should neither sell yourself short, nor price yourself out of the market. Ask yourself the following questions: What is the minimum acceptable salary below which you'd start looking for work elsewhere?: If you know you're willing to leave if a certain level is not met, you'll go into the negotiations with a clear head. What's the most you could conceivably ask for?: Think big. Maybe you won't get this much. Maybe you'd be scared even to ask. But at least let it sit in your mind awhile--you might find your courage growing to match your vision. What is the industry average for a job like yours? Is your performance above or below average?: You might not be able to put an exact dollar value on your performance, but this is perhaps the best way to gauge what you're worth to your employer. Remember that salaries vary from region to region, and take this into account when you compare yourself to the industry average. Build a case OK, you know how much you want. Now it's just a matter of organizing all your research into a coherent argument. Imagine that you're a lawyer, and your employer is the judge and jury. As you build your case, consider the following: Research salary levels: If your salary is below the industry average, provide your boss with evidence (see Step 1). List accomplishments: Let your employer know all the ways you've gone above and beyond the call of duty (see Step 2). Provide facts and figures: Wherever possible, provide numbers or other evidence to back up your claims. Don't say, "I'm really tired when I get home, so I know I'm working hard." Rather, say, "I'm producing 47.2 widgets a day," or "I talked operations out of a useless copy machine that would have cost $5,000." Point out special skills: Let your employer know about any special skills your job requires, especially if you've acquired them since being hired, either in school or on the job. Make proposals for the future: Show you're serious about your future with the company by setting specific work goals. Be firm but flexible When you finally sit down with your boss to talk numbers, it's critical that you adopt the right tone. You don't want to sound like you're begging--after all, you're theoretically asking for only what you deserve. On the other hand, you should not be confrontational. No one likes to be bullied, employers included. Consider the following rules of thumb: Be an educator: During the first round of negotiations, think of yourself as neither enemy nor supplicant, but educator. Simply assume your boss isn't aware how valuable you are, or what salaries people like you command. By avoiding confrontation, you'll keep the channels of communication open, even if your request is turned down. Don't issue threats: Should you tell your boss you have another job offer, or threaten to quite if your demands are not met? The short answer: no. Employers want workers who like their job and want to stay. If you're threatening to leave, they might show you to the door. If your overtures are turned down multiple times and you're totally prepared to pull up stakes, then perhaps you should consider a tactfully worded ultimatum. Just remember: this is a last resort. Make the most of a "No" If you do your homework, muster your courage, time your request to a tee...and then receive a resounding "No," have you totally wasted your time? Not at all. You've planted the idea of a raise in your boss's mind, and it may bear fruit at a later date. If nothing else, you've made your employer aware of the great job you've been doing. You can take some concrete steps to make the most of a "No": Find out why: Ask your boss why your request has been turned down. Is it too soon for a raise? Is it a matter of your performance? Is money tight? This knowledge will help you strategize in the future. Set standards: Ask your boss what you can do to increase your chances for a raise in the future. It's not a binding contract, but you'll know what you need to do to win a higher paycheck. Agree to further talks: If your boss is receptive to your request but unwilling to make a commitment right away, propose a time in the future--perhaps in a month or two--when you can discuss the matter further. This shows you're serious without putting either of you on the spot. Offer alternative benefits package: If your boss likes the job you're doing but is unwilling to raise your base salary, consider other kinds of benefits options, including: flex time; increased holiday time; telecommuting; and productivity bonuses. Be persistent. Patience pays off, mostly when you continue working to convince your boss that you deserve a higher salary. Most raises aren't won after one conversation; it often takes an organized, ongoing effort. Remember, you might not get exactly what you want, but you can still make the most of the situation. And if you do get the raise? Don't spend it all in one place! -end-