Should You Ask For A Pay Raise?

When you first start working after finishing formal education, things can sometimes be difficult and not how you would expect or like them to be.

To start with, westernised countries have been slowly shifting towards a service based economy, which means many ex-graduates are being forced to take low paying jobs just so that they can get some money coming in.

In addition to this, there is also the state of the global economy, which itself is on the decline. As a result, unemployment rates are rapidly starting to rise which can make finding a job even more difficult.

To make matters worse, the economy is also causing many large companies to downsize and lay off workers. So even if you do manage to get a job, you then have to worry about how long you are going to be able to keep it for.

Those who are lucky enough to find employment are likely to start on a fairly low wage (around £17,000 / $30,000 for ex-graduates), which can make living by yourself quite a challenging experience especially when you factor in the rising cost of living.

So in this article we are going to be looking at how to keep your job, and possibly even get a raise.

Opportunity In Hard Times

Now that the economy is forcing many companies to downsize, there are fewer and fewer entry level positions available for people to fill.

If you are currently in a job that is starting to feel the effects of the economy, and you are a good worker, then this might actually be a good opportunity for you to get some more money from your employer, or advance to a higher position.

Even if your company is not able to offer you anything better than what you are currently on or doing, at least you will know you have made the effort to find out.

And if you find you are still not satisfied with your current conditions, then you might decide that its time to start looking for another job.

So lets look at some quick tips on how you can possibly get some more money by asking your boss for a raise.

Do You Really Deserve A Raise?

If you plan on asking for a raise from your boss, you need to first honestly assess your performance and value within that company.

If you have only been working there a few weeks or months, and don’t seem to get along with the management very well, then obviously your chances of getting a raise are going to be fairly slim.

If however you have been at your position for a year or longer and are performing well, then asking for a raise might just get you one.

Your Market Value

One easy to determine whether you qualify for a raise, is to look at what other jobs are paying for the job that you currently do.

If you find that you are taking on lots of extra responsibilities at work (which strictly speaking are not in your job description), then you would be perfectly justified in a asking for a raise in line with the market value of that position.

Often you will find workers who are given lots of extra duties by their superiors, but remain on the wage they originally signed up for. For the vast majority of these people, simply asking for a raise would get them one.

The important word here to emphasise is “ask” because if you don’t ask, a manager will assume you are happy with your salary and your responsibilities.

They will also be happy because it means they can get away with paying you less than you are actually worth.

Going For The Raise

Once you have determined that you are in a good position to ask for a raise, then its time to go ahead and ask for one.

When asking for a raise you need to appear confident, and defend yourself when questioned as to why you should receive a raise.

If you go into the manager’s office looking at the floor and feeling uncertain of yourself, you are likely to get shot down very quickly.

Some managers may agree upon a raise quickly, and without much questioning as to why you deserve one. This is an ideal scenario, but don’t expect it because it’s a fairly uncommon one.

Far more likely is that your boss may initially decline your request, to see how much you really want it or are willingly to fight for it.

If you can then present a convincing argument as to why you deserve a raise (such as good performance or increased responsibilities), then they are far more likely to agree to your request if you can prove that you are of real value to the company.

Using The S Word

If your salary is less than what other people make in similar jobs, then make sure you use that to argue your case. But don’t make the mistake of comparing your salary to another co-worker within the same company.

This is because most managers don’t like their workers to discuss salaries, because if everyone talks about how much they earn some workers may begin to resent those on higher salaries, or ask for a raise themselves.

Be Polite No Matter What Happens

Overall always make sure that you are polite and respectful towards your boss, even if they say no.

Remember, asking for a raise doesn’t guarantee you will get one, even if you think you should. So try not to be too disappointed if you get turned down.

On the bright side, if you do perform well at your job your boss may instead be able to offer you some sort of bonus like a company car, or offer to raise your salary when the economy improves.

Bluff A Raise

As a last resort, if your boss declines your request for a raise and you are unhappy working under your present condition and wage, then you can tell your boss that you will quit and find another job instead.

However this is a dangerous tactic to use. It could get you a large raise, or your boss might call your bluff and say that they expect your resignation tomorrow.

So use this tactic with extreme caution and only if you know you are invaluable to the company, and they would struggle to replace you.

Again, always make sure you are polite and respectful to your boss and don’t become angry or threaten them.

You will most likely need a reference from them when you leave that company, so try and keep yourself in their good books.