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6 Steps to a Raise

6 Steps to a Raise

Clare O'Keeffe | Salary.com

4. Do Your Research

Although salary negotiations may still take place behind closed doors, the Internet has made it easy to learn where your compensation package stands in comparison to other workers in your field. For example, the Salary Wizard is especially useful. Consider not only your base salary but your total compensation package: benefits, vacation days, telecommuting and other work/life benefits. These areas are all important to your quality of life. Also bear in mind that salaries vary depending on location, industry and company size. Consider these factors if you want to assess your market value accurately.

5. Frame Your Pitch

When you sit down for your performance review, use all the information you’ve gathered and records you’ve kept to illustrate both your past work and future potential. Keep the negotiation focused. Don’t discuss upcoming expenses you might have or loans you’re hoping to pay off. These factors may be important you, but they will only distract your employer. Let the discussion focus on your performance and your future at the company. Make it clear that you want to grow in the job — and that you want your salary to grow with you.

During negotiations, be sure to mention other areas of your compensation package. It may be easier for your employer to expand your work/life benefits than to raise your salary, and frequently the resulting change is equally beneficial to you.

6. Start Again

During your review, be sure to speak to your employer about his goals for your future at the company. Discuss a timeline for these goals, so you’ll be prepared to set yourself up for next year’s raise.