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Published on Nov 18, 2013
How to prepare & ask for a raise:
#1 Be realistic: Understand the market in which you work and what you are worth -- rough idea -- ask around since wages vary by cities.
#2 Know your company's policy: some companies only provide raise once a year.
#3 Understand the state of your company: can it support a raise?
#4 Schedule time for the discussion: this should not be a drive-by ask.
#5 Justify your request: Build your business case to justify your ask (ways you've helped the company earn or save money- concrete dollar amounts).
#6 Present yourself well. You are selling yourself, present yourself in a professional manner for the ask.
#7 Avoid ultimatums and keep to the facts: Minimize your emotions, stick to the fact based on results.
#8 Ask and wait: Like any good salesperson, silence can be your best friend. After asking an important question, be silent.
#9 Build a plan: regardless of the response, work to understand the next steps and build a plan to get from where you are to where you want to go. - Yes: Understand when and how you will receive the raise. - No: Why not and what do you need to do to position yourself for a raise. Follow-up.
#10 Thank You: Thank your boss for their time and follow-up with a written thank you.