Manage my boss, manage my pay rise
There are a few ways people get raises in business. Some companies have an annual performance review linked to a pay review – and voila – you’ve just received a raise.
But while that may be the norm in big companies, smaller enterprises are unlikely to offer any additional compensation, unless an employee directly asks for it.
And regardless of the methods used, impressing your boss has a lot to do with the size of increase you’ll receive.
The key to managing your pay rise is to manage your boss.
Put yourself on a good footing
Whether you started out on favourable terms or not, you’ve got to have a decent working relationship with your boss. You want someone who’ll go to bat for you, whether it’s financial or not. Take the time to ensure there is open communication between you and your boss. And, if the issues are deeper than that – fix them.
Self-assess your performance
Look at the job you do (both on paper and in real time) and figure out how you are doing. Bring discrepancies to your boss whether they are positive or negative. Knowing that you understand the difference could make all the difference to your perceived performance. Then, get to work correcting any areas that need attention.
Make it easier
Your boss will be ready to reward anyone who makes her life easier. Be that person. Get your work done, then make it easier for your boss to do hers. Make sure you understand the difference, though, between making it easier to work – and doing her work, the latter is something you should never do.
Once you’re sure you’ve got an understanding with your boss, and your work is up to scratch, then it’s time to dive in for some additional pay.
Determine your worth
When you ask for a raise, it’s likely that your boss will ask “how much?” Plan for this and do your homework. Find out how much people in similar positions make (in your company, or competitive firms) and what their responsibilities are. You may have a difficult time finding the specifics, but ball park figures should give you enough to know what you’re asking.
Back it up with some documentation
It’s difficult to argue with facts. Collect data and prepare a one sheet report about your job and your performance. Your boss may not even need to see this, but he won’t be able to argue with facts committed to paper and recorded for his superiors to see. Just make sure your documents are accurate and factual.
Don’t forget to ask
For many employees, especially those working in smaller firms, the biggest hurdle to achieving a raise is simply asking for one. Even if your boss knows how hard you work, don’t expect her to offer a raise unless it’s company policy. It’s more likely that her idea is to keep costs down; if you don’t bring it up, neither will she.
It’s always better to act sooner rather than later, especially where money is concerned. So, get to work now on managing your boss and securing your pay increase.
- Grab a copy of your job description. If you don’t have one, make one up and see if your boss agrees.
- Make sure your performance meets or exceeds everything in your job description; if not, get to work in that area before asking for an increase.
- Open your communication channels, and ensure you enter the office every day in a chipper mood, ready to work.
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