Dos and don'ts of asking for a raise

But while you are just itching to ask your boss for a much-deserved raise, you’re hesitant to get into an actual conversation about it. The boss might say the company is experiencing hard times, you might feel that you do not have negotiation skills, or you’re just scared of being rejected.
The first thing you need to do is take these concerns off your mind. While your boss is not likely to give you a raise voluntarily, don’t assume he won’t do anything about your request either. Get your courage up to ask for what you think you deserve.
Here are six things to remember when haggling for a pay hike:

-Go in with confidence
If you enter into negotiations thinking you’ll probably be rejected anyway, then you better stop now. You will not be in a good position to argue your case if you’re not confident enough to lay your cards on the table, and you might end up with a compromise that is not really to your liking.

-Prepare a list of accomplishments
Confidence will only get you so far; achievements will back up your arguments. Make a list of all your notable accomplishments – closing a big deal, generating better sales or helping cut company costs. Your achievements do not necessarily have to relate to the bottom line, either. They can be about taking a leadership role in your team or raising co-workers’ morale. Make your list as specific as possible.

-Know the industry standard
Most big companies follow a salary scale based on several factors: educational background, years of experience and performance. You can determine what salary is usually given to employees with the same job by quizzing friends who work in the same industry, checking classified ads that indicate salaries or checking out online salary surveys.

-Know what you want
Be sure you know exactly what you want from the company. If you want your salary increased by a certain percentage then begin negotiations with that figure. You may also want to look into alternatives in case your proposal is not accepted – discuss better perks and benefits like longer vacations, stock options, a one-time bonus or even a better title.

-Know your boss
Familiarity with your superior’s management style and personality will give you an idea of how he or she will view your request. It will also help you time the meeting for when your supervisor is in a good, receptive mood. Even better, you can anticipate any objections that may be raised against your request.

-Remember the don’ts
Don’t get emotional during the dialogue; tearing up in the event of a “no” will make your boss see you as immature. Don’t say why you need the money, or go comparing your salary to a colleague’s. And more importantly, don’t threaten to resign if you get turned down. You might find yourself packing your bags faster than you can say, “I need a raise!”

This article is taken from JobStreet.com, an online recruitment service provider.