Dr. Robert Hicks, director of JSOM’s Organizational Behavior and Executive Coaching Programs, recently was tapped by CBS Channel 11 News reporter Brian New to provide his top five tips to get a raise.
Hicks recounted these:
- Getting a raise starts before you ask for one. Take on additional tasks, duties and responsibilities to prove your worth and to make it easier to justify your raise when you do ask for it.
- Make a business case for yourself. You won’t get a raise because you need it; for example: “I just bought a new house.” You get a raise because you can prove you deserve it. Do your research. How does the pay scale for what you do compare to those of other jobs with similar responsibilities. Take into account the perspective of your boss and the organization.
- Know your boss. What does your boss value? How does your boss like to be approached? In line with this, consider timing: What’s on your boss’s plate? What’s going on in the organization?
- Be confident. Confidence comes from being prepared — including being able to state your case clearly in the first 30 seconds — practice this ahead of time. Believe in yourself and that you’re worth the raise.
- If you are told no, take it seriously — but not personally. Suggest alternatives: What about a bonus? What about a new title? Be ready to ask: What do I need to do? Or, if this is a matter of timing, when is a better time?
New combined Hicks’ tips with advice from other experts to come up with this list:
- Timing can be everything. Generally, it is better to ask early in the week.
- Find out when your company sets its annual budget; then ask before that.
- Be confident. Know what you want. Have a number in mind. Aim high.
- Do your research. Know your true market value.
- Schedule a meeting with your boss. Tell him/her what you want to discuss. Come prepared with a list of your accomplishments, your “Brag Report.”
See more from Hicks in New’s report.
