Tell me how to get a raise. *Updated*
So I've been in the working world for almost a year now and my annual review is next Friday (May 25) and I am not entirely sure how to get more money.
I certainly deserve it. My company provides web-based front-ends for major insurance carriers and my department is responsible for extracting data from the database the frontend feeds to, formatting it to their legacy systems, and uploading it to their servers. This is quite a departure from my educational background, so I probably didn't get quite as much money for the position at first as someone with a degree in the field, simply because I could have turned out to be rubbish at the position. But I've gone from being the tertiary person on one carrier to the primary on two and backup for a third. So, I want more money.
This is, though, the first job I've ever held long enough to be in a position to ask for it. So, give me some pointers, GWJ. Please?
xbox live: Lester King 17



My best advise would be to demonstrate what you've accomplished in the position in the past year. Give specific examples of what you've learned and how you put it into action. Also, talk about how you plan on furthering your knowledge of the business and using that to help the company succeed.
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Threaten to leave, or at least hint that you are unsatisfied with the amount of money you are making, and drop another hint that there are other companies out there who will pay this wage.
I've only gotten an involuntary raise once, but the other times I had to look externally and get up the courage to say I have another offer. It's worked so far. They have a love hate relationship between you and their budget. But the employee usually wins in most scenarios, because it's more cost effective to keep someone with company knowledge, who has experience, as opposed to hiring and retraining a replacement.
It's all about playing hardball. Just remember the dollar signs in their eyes, and remember that no matter how much they say they can't flex - they can.
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I've gotten very substantial raises, but my largest salary jumps have always been moving from one company to another. Especially at the low end, many employers aren't used to negotiating much for salaries, and it's really hard to get more than a very small raise. They already have you, and generally speaking, they want to pay you as little as possible to keep you.
I don't, btw, think it's a good idea to go job hunting and then tell your existing employer "Company Y will pay me more, will you match it?" I think once you start job hunting, you should go ahead and go; if you accept a counter-offer, you're often leaving yourself open to being dismissed shortly thereafter, when they find a replacement for your disloyal ass.
But you're not at that point yet. Document what a good job you've done, and point out how thoroughly you've fulfilled expectations. Thank them very much for taking a chance on you -- that's important. But diplomatically point out that you're tremendously more skilled than you were when you were hired, and that you feel you're worth a lot more to the company now.
Another thing to realize is that many employers think in terms of jobs, not people; they have X budget to fill that seat. You may be a superstar, but the job itself is still only worth X to them. Trying to get paid 2X for an X job can be pretty difficult, especially if it's not hard to find and train people to do it. After all, it worked out well with you: they may be perfectly willing to do it again.
If you still don't get paid what you think you're worth, given your job function and skill level, quietly start looking for something else. If you're willing to take the risk on a new employer, you can often do much better for yourself than staying. It's very rare to find a company that cares about or rewards employee loyalty anymore; if and when you do, try to stay there. But if it's like most companies, where you're a butt in a seat, moving around will advance your career more than staying.
I would approach softly at first. Most companies, if they have any sense, will offer at least a small raise automatically at a year, and the only negotiation is over the size of it. If the review is winding down and it's clear you aren't going to get one, you should bring it up (and seriously consider working elsewhere - that's just cheap).
Remember: this conversation is just between you and me ... and the NSA.
First
Second, and in all sincerety, be prepared to state the points you made in your post with confidence. You know you have become a valuable asset to the company, and more than likely if your reviewer is doing his/her job, they will know too. I learned the hard way that if you don't go into the review with a firm stance on your own value, you will not get what you feel you deserve.
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Since you are just a year out of college, even if they don't give you what you want, though it's not a bad idea to look for another job, it may be beneficial to stay on, if it means gaining more experience or responsibility (which you can put on your resume when competing fo the next place).
Jolly Bill wrote:
Why don't you wait until after your review, and see how they think you did, and what they are going to offer?
Any action before that is premature. You can go into this process with a number, but keep your mind open.
After they offer you something ( or not), if they are not offering you enough, think about what else they said. Your review process will probably include reviewing what you've done and what future training they have planned for you, and whatever you might have to add.
They might come back with training plans and or classes that will offset a wage increase.
Basically, wait and see. Your manager may put you in for a certain raise, and that may not be approved or lowered. You also need to decide whether you want to stay in this line of work or look for something in the field you studied in school. If you're not happy at work, is slightly higher raise going to help that much?
A little clarification, I finished my Master's a year ago, so I've got some prior work experience as well, just not any that has been as long term as this.
Oh, I'm very happy here. A lot my friends work here and my next-door neighbor is my manager... I'm not interested in leaving anytime soon or anything. But I've got student loans to pay, and I'd like a little more leeway in my budget. In my mind, my time here at the office should be counter-balanced by greater discretionary funds while out of the office.
Wait and see is good advice, Folk, but I'm not very patient. I'll have to give that a try.
Would 10% be too much to ask for?
xbox live: Lester King 17
I'm going to guess on average typical raises are 4%, but considering you said you started out at perhaps the lower end of your position's pay scale because you did not have prior experience in the field, 10% may not be too much at all.
Jolly Bill wrote:
I agree with Aang. My first job out of college I got a 15% raise after six months because I was initially hired outside my payscale ( like you, this wasn't the field I got my degree in).
But it depends. 4% is typical where I work, but just the other day someone mentioned inflation is around 3%, so...
Just try not to think about it until after you hear what they have to say. I know it's tough, but if you're confident you are doing good work, chances are they are too. You may just get what you want the first time round.
Good luck!
The tried-and-true Goodge method: finger->butt. Let us know how it turns out.
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My advice would be to prepare yourself for the review, walk in with a positive attitude and see what happens. Have anything that your manager can use as a benchmark with you and remember that most of the time, the payroll adjustment decisions have already been made weeks ago. Reviews are really just sitting on the other side of a desk waiting for your boss to slide you that Post-It note with your new gross salary written on it.
Now, as far as salary adjustments, I may have been lucky but my first year out of college I really impressed my boss and managed to get a 12% bump on the pitiful little starting salary I had. Anything over 10% is definately the exception and not the norm. More than likely, if you do good work and meet your goals & deadlines you could probably expect to see a 4% - 8% bump. If you get a job title adjustment or other promotion then you will probably see something in the range of 8%-12%. The only time since that first 12% raise that I've managed to get over a 10% increase was when I left my secure job to go work for a startup. If you start shopping your resume around, you might find out that you are worth a lot more than your being paid but there's always risk involved.
Good luck to you!
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My older brother told me that he gets a 2% raise a year just for remaining employeed. So I would think 10% is huge, but my friends that work there with me say otherwise. The one who's worked there longest, his first year he had a 37% raise, but that is quite an anomaly, I think. But the standard is 5% and if they've been doing very well, like another friend of mine, they've been 10-15%.
I would be happy with 5%, but I'm going for 10.
xbox live: Lester King 17
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If your review is next Friday chances are they've already determined how much of a raise you're getting and it's too late to do anything significant about it. Just listen to the numbers and if you're unhappy say that you expected a little more and ask what can you do to prove you deserve another raise or a promotion in the next six months.
Well, today's the day. Did it go good?
Gamertag: RiverRatMatt
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Just remember our company motto: "Raises come quicker to those that don't ask for them."
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It went alright. They offered 6%, apparently the director of my department usually gives raises from 1-4%, so I should have been pleased. I countered with 10%, my manager agreed that I deserved it, but she had to check with the director. So, I'm in limbo right now. But better in limbo with the hope of 10% than in reality with my sad six...
If I get the 10% I will be one of the highest paid people in my department, but since I am newly responsible for our biggest client and they're going to put a new hire under my supervision... I don't think it's too much to ask for.
xbox live: Lester King 17
Congradulations!
Let us know if the manager comes through with the 10%.
Gamertag: RiverRatMatt
Witchlight Cycle: Sithis of the Thelis'Thale Clan, Dragonborn Paladin of Moradin
Best of luck! In my experience, getting the biggest raise comes from moving on to another company. I have worked for big mega-corps and small businesses, and both are equally tight about giving raises generally speaking. Corps rarely deviate from the official raise policy and small business owners generally want to keep the money for themselves and share as little as possible with their employees. In two recent cases, when I turned in my notice my employers made a counter-offer, but I never took it. If I had stayed, I would be labelled as a "disloyal" worker who might leave at any time, and I would be burning a bridge by turning down the offer from the new employer. In practice, the best way I have found to make more money come raise time is to always have a good attitude (even when you have to fake it), perform your duties well, and be willing to take on more when they ask you to. If you do those three things and they still stiff you on the raise, then leave without hesitation. Life is too short.
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Why is that? The more I think about it, the more I think that attitude is designed to keep a dude like Lester down.
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Exactly. Like a job here?
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Hey RichyRambo, I love your avatar! I have a variation of that image as my desktop on my work pc! Lol.
Egg Shen: Lo Pan is down there.
Jack Burton: Down where?
Egg Shen: Where is the universe?
Quote:
- Legion, taking "keeping it in the family" to a whole new level.
Xbox Live: Fedaykin98