Yes! You Can Ask For A Raise in This Economic Climate!

As many businesses continue to tighten their belts due to the tough economic times, it may still be possible to ask for and receive a raise. With the many layoffs, business has been able to cut a great deal of fat from their operations and budget. This could count as a benefit for you presenting your case to your boss. If you have had to take on additional duties, put in more hours and help your employer meet their goals, so much the better for you.

Before you walk into your boss’s office, you will want to do your homework first. Start out by finding out what your market value is. This is great information to have ready to show that you are worthy of a pay raise. Make a detailed listing of the significant accomplishments that you have completed to improve business for your employer. This listing needs to demonstrate the cost saving benefits that you have implemented. Show the increase in sales, improved efficiency, etc. You will need to show the numbers to provide the return on investment for the pay raise that you are seeking. It is important to show your contributions by listing them with bullet points.

If your employer is not able to increase your salary, look for other options, such as extra vacation time, stock options, or even tuition reimbursement for a course that could provide continuing education for your career at your place of employment.

Above all, make sure that you set up an appointment with your boss. Do not blind side them with this request. Asking for a raise at your annual performance review is the best time to ask for that raise. However, if it will be a period of time before your review, a good time to approach your boss is after your successful completion of a major project.

Even if your boss says no, you may want to look at changing your job description to incorporate your added responsibilities. This is a way of getting a bit of a promotion.

But, if your boss keeps saying no, it may be time to start looking elsewhere. There are still many businesses that are on the look out for top performers.