Though many workers feel underpaid and overworked, asking for a raise is one of those tricky aspects of employment that most would rather not deal with. If everyone in the company agrees that the pay is far lower than average, should the person simply accept the status quo and be quiet about it? Or should he or she try to negotiate a higher salary? Here’s how to diplomatically and tactfully approach the boss with a request for a pay raise. Also if you are a student or college graduate you can read can read article “How to Get a Job in the Real World After Graduation” it’s has really great advice about job serach.
Use a Salary Calculator
Using a home computer (don’t try this at work), research what others are being paid in the same occupational field. There are a lot of useful websites for determining median compensation using data derived from surveys. The sites factor in such criteria as experience, location, and specific job title to come up with the estimate. But lest the person believe they should absolutely be paid what the calculator displays as median pay, think again.
According to some researches a lot of an employment experts believe the calculators often display results that are higher than what the market actually reflects. “Most salary calculators do not provide information about the size of the sample used in determining the figures, nor how the sample was chosen,” quotes the Forbes website.
The fact of the matter is, companies calculate salary in a variety of ways. It’s not uncommon for compensation within just one department to vary widely. Thus when the job seeker sees the words “median pay,” it doesn’t necessarily mean the company should be paying this exact amount on the bi-weekly paycheck. Other factors such as lower cost of living location and an exceptional benefits package could set the actual compensation to a lower amount.
Assess the Current Compensation Package
Before approaching the boss for a raise, assess the overall compensation package for perks that may make up for the lower compensation. Does the company offer free gym membership? A lucrative 401(k) profit sharing plan? A great health plan? Free meals? These perks may compensate for a lower salary and, when added up, may actually equal out.
Approach the Boss
If after taking a good hard look at the overall compensation package the person still feels like the annual pay is simply too low, it may be time to approach the boss and negotiate a better deal. A great time to discuss the matter is during the annual review. In any case, prepare copies of estimates from salary calculators, keeping in mind that flexibility within the entire range is required. Also prepare copies of recent performance evaluations.
Set up a meeting with the boss by email to discuss a matter related to employee compensation. During the meeting, tactfully state the case showing him or her salary estimates and the numerous glowing performance reviews. Do not focus on the median pay alone – rather, cite the entire compensation range for the given occupation. This shows the boss that the worker is flexible, something the employer will greatly appreciate.
Always speak diplomatically and professionally. Show humility and a willingness to bend a little. Give the boss some time to mull it over and perhaps talk to HR. Never burst out in anger or threaten to quit if the answer is no; thank the boss for his or her time and walk out calmly.
Most employees would like to have a higher bi-weekly check but loathe the idea of broaching the subject with the boss. However, by using an online calculator to get a rough estimate of the worker’s worth, assessing perks and benefits as an addition to compensation, and diplomatically negotiating for more money, the person can successfully approach the employer for a higher take-home pay.