Do You Deserve a Raise?

One of the ways that many people attempt to make more money is by asking for a raise. This can make sense, since it can mean that you do basically the same job, but you get paid a little more to do it.

However, before you get excited about the prospect of asking for a raise, you need to think through the situation. With money still a little tight for many small to medium sized businesses, asking your boss for a raise right now might not be the best option, especially if you don’t truly deserve raise.

How Long Have You Been There?

There are still companies that reward loyalty with raises. And why not? It can sometimes be less expensive to give you a modest raise that go though the time and expense of training someone new (if you quit and have to be replaced).

If you are doing a good job, and becoming better at what you do, it can make sense to give you a raise, based on your years of service.

What is Your Track Record?

More important than how long you have been with the company, though, is your track record. What have you accomplished at your workplace? Have you brought in more clients? Increased productivity? Showed good leadership qualities?

Before you ask for a raise, you need to find a way to quantify your contributions in the workplace. Your performance is one of the big factors in determining whether or not you get a raise.

Will You Do Anything Extra?

Next, you need let your employer know what types of extra things you are likely to do. You don’t need to take on a large amount of new responsibility if you get a raise, but it does help to show that you are doing what you can to “add value” to your position.

If you are asking for a promotion along with that raise, though, you had better be ready to take on more responsibility. Take a look at what you are willing to do on behalf of the company, and make it clear that you plan to step up your performance to match your new position and/or salary.

Do You Really Need More Money? Consider Benefits and Perks

Sometimes, instead of just asking for more money, you can consider the benefits and perks that come with your job. If you are willing to compromise a bit, you can get a compensation package that is worth more a mere raise. Maybe you can get a few more paid vacation days, or maybe you get perks like child care or a gym membership.

One of the things to take into account whenever you are negotiating compensation, whether you are starting a job, looking for a raise, or asking for a promotion, is the big picture. What’s the total package? And do you have benefits that are worth more than a couple thousand extra dollars a year?

Really think about what you have been adding to the company — and what you have been getting in return — before you ask for a raise.