The 4 Chinese characters say, “I want a raise.”
There are seven factors to consider before you
ask for a raise:
1.
Profitability and cash flow: Is the company
making money? Is there sufficient cash flow to cover normal operating expenses?
These are important things to find out before you ask for your pay increment.
If you are not working in the finance department, you have to get the correct
information from your co-workers who are working there. Actually, you just need to be observant and know the telltale signs
like slow business and suppliers are always pressing for payment. If the
establishment is making losses or there is an insufficient fund to cover day-to-day
operation, don’t ever think of asking for it.
2.
The power of your immediate boss: Do you have an
immediate boss? Do you think he or she is capable of asking for a raise on your
behalf? Hopefully, your immediate superior is a valued department head in the
eyes of the big boss and what he says carries weight.
3.
What does your boss think of you: Are you being
noticed by your boss? If you are just busy working and without notifying your
boss regularly about your progress, he or she may not be thinking too highly of
you.
4.
The way you ask for it: There is a right way to
ask for a raise. Don’t ask as if you are entitled to it and it is not an
ultimatum. You should go to your boss when he or she is not busy and in a good
mood and request a raise with valid reasons. The way to go about it is to
ask your boss to consider your request. In this way, the boss will be more than
happy to comply and if the worst should happen, it is not the end of the
world. More likely than not your boss
will accede to your request, if not, ask for the reasons and be more prepared
the next time.
5.
Don’t ask for the wrong reasons: Don’t tell the
boss you need more money. Money is always in short supply and it has nothing to
do with the company. Don’t say you are paid less than somebody else in the
company. There is no way to find out how others get paid because it is
confidential.
6.
Are you underpaid: Do your homework and find out
the current salary trend relating to your job scope. There is a good reason to
ask for a raise when you are paid less than what you should be getting.
7.
What have you done for the company: This is a
crucial factor when all other things are in your favor. Are you contributing to the company? Do you
manage to cut expenses? Are you
generating more revenue for the company? When the answer is affirmative, go for
it, and best of luck to you.
Do you have other effective ways to get a raise?
