May 20, 2018

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Tips on Asking for a Raise

You've been with your company for a year. Normally employees get a review and according to their procedures, some type of a raise. While this is standard practice for companies, there's nothing that says they HAVE to give you one.

When going into your review, or if you feel you deserve a raise and need to ask for one, make sure you are prepared to show how you help the company and have any documentation available to back up your statements.

There could be several reasons why you'd deserve a raise:

  1. Your job changed and you're doing more work than you originally were hired to do.
  2. You've saved the company money by negotiation contracts with vendors or streamlined processes.
  3. Your work is worth more in the industry than what you're being paid.
  4. Inflation reduced the value of your salary.
It may be one, or a combination, of these reasons that you deserve a raise. Preparing documentation does a couple of things. First off, it shows your manager exactly what you've done that makes you deserve a raise. It shows the responsibilities you had when you took the job, how the position changed, and how you've met and exceeded goals of the various projects you've worked on. Secondly, with this documentation, your manager has the ammunition needed to verify the merits of your raise.

You also need to do your research. What are others in your field making? You can research this by going to different salary survey sites, as well as going to your network of contacts and getting their feedback. Never forget that you're worth what the labor market indicates you're worth.

Finally, before going into the meeting, practice what you're going to say. Think of questions your manager may ask and the answers you'd give. Your answers should relate to how you've helped the company. Those who helped the company succeed are those most deserving of raises.

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