Q: I want to ask for a raise.  What’s the best way to approach my boss, especially in this economy?

A:   Don’t fret too much about the type of economy. As long as the company is doing moderately well and you’re contributing to that success, tips to ask for a raise are about the same regardless of the economy.  Sure, it’s harder, but just as people find jobs in tough times, people also get raises.

In fact, asking for a raise and interviewing have similarities:  for starters they both make us nervous and fearful of rejection.   Additionally, careful preparation is essential for both.  Knowing the market value of the position, and skillfully articulating your unique contribution to the company, are crucial.

Some Tips

Do your homework.  Research the position’s fair market pay. Try salary.com, monster.com or payscale.com. Talk to colleagues outside the company.  Know your industry.

Make your case. Highlight contributions; money saving ideas; awards and recognitions; your last evaluation.

Consider timing.  After completing an important project or during next years’ budget planning are usually favorable.

Don’t improvise.  This is no time to wing it.  Request a meeting in advance “What’s a good time for us to meet and talk about my pay?”   Have your data and bullet points ready.  Anticipate questions and practice responses (like interviewing).

No entitlement vibe.  If you’re feeling resentful or unappreciated, wait until you’re in a better place in your head.  It’s hard to negotiate with a chip on your shoulder.  You should feel confident, valuable and optimistic.

Be ready for rejection. Ask what you can do in the coming months to improve your chances next time –or to help your boss make the case to higher ups. This shows continued commitment, and no hard feelings.  I’ve seen people greatly improve their chances for future raises after handling rejection with dignity and professionalism.

Don’t give up.  Asking for a well deserved raise doesn’t mean you’ll succeed. But, simply asking serves an important purpose:  Now you’re on you boss’s radar as someone who wants a raise, made a good case and took rejection gracefully.  Your efforts will be more noticed.   Wait six months, and try again.

© Copyright Eva Del Rio– Published in The Gainesville Sun on July3, 2011