Do You Deserve a Raise?

This year, my dad jokes, his “raise” is to keep his job. My dad’s joke got me thinking, however. Recently, many of us have got in the habit of expecting a 3% to 5% raise every year because that’s just what happened. It didn’t even really matter whether a raise was actually warranted. Now, though, with the recession, there won’t be as many raises; pay cuts are more likely to be the norm. But that doesn’t mean you can’t ask for raise. Raise entitlement is diminishing as companies struggle to cut expenses and improve the bottom line. If you do decide ask for a raise, you will need to justify it.

In good times and in bad, when you actually ask for a raise, you usually need to show that you do, in fact, deserve a raise. Asking for a raise beyond what is normally given requires that you demonstrate that you are worth what is more than normally given. While there are plenty of folks who receive raises even when they probably should not, if you ask your boss or supervisor for a raise, you had better be prepared to “prove” that you deserve more money.

What you need to do is prepare yourself to ask for a raise in a professional manner. Here are 5 things that Free Money Finance points out you should do to illustrate — in measurable results — that you deserve a raise:

1. Determine the expectations that go with your position.
2. Work hard to overperform, exceeding expectations.
3. Document your successes. Send reports regularly (once a week or twice a month).
4. Show that you are underpaid. Find out what others make in your job description. I like to use Salary.com.
5. Have a good attitude.

I think that most of these are good ideas. It is also worth noting that you should not consult with your coworkers on this matter. Make an appointment to meet with your boss through appropriate channels, so that you can have a professional business meeting. And remember: Timing is everything. Your boss may not be able to give you a raise right now. But if you do things right, you will be first in line for a raise as soon as things improve.

image source: sxc.hu