Career Hacking: How to Get a Raise

March 6th, 2008

Filed under: Career

Last month, I was approaching my 4-year anniversary with my employer and I realized how much has changed since I arrived. I came in as an entry-level code monkey and was bumped up to the next level after one year after a few key departures which gave me the opportunity to prove my skills and value to the company. In the following three years, I continued to really push the product forward and have all but completely restructured our entire application and operating procedures. It became clear to me that I was operating, in many ways, as the lead for the project.

I decided I deserved a promotion to match my growing skills and responsibilities. And now that I’m a sole-breadwinner for my household, I need to grow my income more than ever to cover the new and increasing costs of (joyous) parenthood. I prepared myself, timed my request to happen a few weeks before my annual review, and then finally just came out and asked. When time came for my review, my boss informed me that he did indeed request corporate promote me to the next pay grade. I should find out in the next few weeks what my new salary will be (standard corporate red tape delays).

Here are the steps to success that I followed to get that promotion. Anyone can implement them, so don’t be afraid to ask for that raise if you truly deserve it.

1. Prepare before asking

You have to know before you walk in your boss’s door that you deserve that raise and you can sell your case. Write down all of the big things you’ve done for your company since your last raise. Where you can, give specific figures to really make your point; e.g. “I saved the company $40,000 this year by finding an better open-source alternative than the proprietary package we would have purchased.” Keep this list to the major points because too many details may detract from your overall message.

2. Know your boss and his moods

If your boss is grouchy in the afternoon because of all of the work piling up, request to meet with him early in the day. If your boss is not a morning person and is more pliable after lunch, schedule your meeting in the afternoon. Be flexible because this is the man who is entirely in control of your future with the company - cater to his predispositions for your best shot.

3. Know your employer’s financial situation

If your company is in the middle of a round of lay-offs, it’s best to not come to your boss demanding more money. In fact, it may be risky to your job to ask in that kind of situation. Make

4. Practice your “speech”

Seriously, rehearse at least twice before going to your boss. You must be completely convincing and know your points before taking the “stage.” This is your make-or-break moment and you only get one shot at it. You cannot afford to not be well-rehearsed before you walk in the door.

5. Don’t press for an immediate answer

Your boss has a lot of things on his mind and will probably have to check with his superiors before awarding you any significant raise or promotion, anyway. Simply lay out your case, tell him that you would like for him to think about your request and your value to the company, and leave. Keep it short and succinct; you’ll make a better impression to your time-sensitive boss and you’ll have less of a chance of messing it up by talking too much. If your boss agrees with you, he will likely make the recommendation; if he doesn’t, you’re not going to change his mind by going on and on about it.

As always, there are no guarantees of success and there are many other variables that must be considered, but you won’t get that big raise if you don’t ask for it!

Other people have written on the same subject with their own opinions on how to ask for and get a raise. Visit them for more ideas.

A guest post on Get Rich Slowly shares how to go about requesting (and receiving) the raise you deserve.

Free Money Finance writes regularly on the subject.

The Simple Dollar gives suggestions on what to do with the money after you get the raise.