Money Pleeeeeeease!
MONEY PLEEEEEEEEEEEEEASE
Today we talk about how to ask for a raise. Mona Lisa Saperstein is definitely our hero and inspiration. Let’s take her best catch phrase and make it work for the office.
Let’s start with addressing those of you who may be nervous about the simple act of asking for a raise. Let me tell you something: I’ve never been sorry for asking for what I want. Even when the answer is no, I’m always glad I asked. So come on now… You’ve been working hard. You’re a valuable asset to the team. It’s time to show ‘em what you’re worth. I believe in you!
Figure out the timing. The first step is to figure out when raises are typically given so that you can ask at the optimal time. You want to be able to ask before the powers that be have already decided how raises will be allocated. You also probably don’t want to ask when everyone is freaking the f*** out about something or other. But once you know what the timeline is, you know how much time you have to prepare your case.
Do some research. Figure out how much people of your skills and experience are making. Check out resources online and ask people you know. It’s important to know your worth before entering your negotiation. If you’re feeling weird about asking your peers what they make, you can try asking someone a level or two above you what they made when they were your age.
Know the reason. Put together a list of why you deserve this raise. These are not personal reasons you need more money because frankly no one besides you really gives a s*** about that. But be ready to talk about your leadership positions, new skills you’ve developed, quantitative measures of project success, additional responsibilities you’ve taken on, and anything and everything you bring to the table.
No is a valid response. You should never ask someone a question thinking there is a “correct” answer. Do I look fat in this dress? Girl. If you look s*** in that dress, I’m telling you. And we’re finding you something better to wear. Similarly, you should be mentally prepared for the possibility that your request may be denied. And that’s OK. Take a deep breath. You’re still in the game. If you get a no, you need to ask what you would need to accomplish in order to meet the criteria for a raise in the future. Figure out what actions you need to take to meet your boss’s expectations. Now you have some new goals to meet before you ask again.
Ask. You have everything prepared, and it’s time to ask. Set up a meeting with your boss. Bring in your prepared materials and something to write notes with. Discuss your reasons in a concise manner. Basic outline: “I am awesome. Here is why. I would love a raise.” Whether or not it’s positive or negative, listen to their response and actively take notes. Before you close out the conversation, make sure you know what you can expect next and if/when you need to follow up.