How to Ask for a Raise: An Effective Five-Step Plan

For most people, asking for a raise is about as much fun as going to the dentist. It's an awkward thing to do, to go to someone you work for, and ask them to give you more money. It's just something most of us are never taught how to do. Fortunately, with a little preparation and some practice, most anyone can learn how to ask for a raise in an effectual manner. Below is an effective five-step plan you can follow to help you ask your boss for a raise.

1 - Do your homework. No matter what position you have, it's best to find out as much as you can about your situation. For example, where does the boss stand on raises. Does he or she dole them out religiously, or only occasionally. Maybe he or she never does. Also, what is the company policy? Is there an annual standard of living raise? If so, are you asking for more than that? Are there milestones you have to meet/ Marketing goals? Also, you might want to check into how things work in actual practice. For example, it might be helpful to know what others in your position are making at the company, or in the industry. It also would help if you knew if others are getting raises, or if raises only come with promotions. You might also do some checking around to see what types of employees the boss rewards to compare them against yourself. In short, it's best to arm yourself with as much information as you can possibly muster.

2 - Prepare and Practice. Before meeting with your boss, it's best if you gather your materials. Anything you have that shows what you've done and done well. Reports are good, as are reviews or awards. Especially effective is any sort of proof you might dig up that shows you've done something in your tenure to improve the bottom line of your group, or the company as a whole. You need to keep in mind always, that the reason people give raises is because they like what an employee is doing and want to reward that behavior so as to make it continue to happen. Once you feel you are prepared for meeting with the boss, practice what you are going to say out loud. It will help you see your weak points and give you an opportunity to bolster them before actually speaking with the person who will be making the decision.