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Money is often a touchy topic because there’s a lot riding on it, says Susan Britton Whitcomb, author and founder of the Career Coach Academy (Careercoachacademy.com). It could be that you don’t want to seem confrontational, or “rock the boat” with a supervisor. But demanding what you’re worth plays a significant role in being compensated according to skill level and workload. “And to a large degree, it dictates our lifestyle,” says Whitcomb.
We’re here to help by offering challenges every week for the next 12 weeks, to get you closer to earning the raise you deserve.
Week 1. Arrive early and leave late:
Head in 30 minutes to an hour early each day to give yourself the chance to organize your workload, meditate, and send out or return important e-mails (Hopefully one to your boss, so that she will recognize the time stamp!). “Work in breaks around your daily objectives rather than focusing on how much time you can be away from your daily tasks,” says Deborah Walker, CEO of Alpha Advantage, a career management consulting firm (alphaadvantage.com). Stick around after close to tie up loose ends, file documents, or perform other tedious office tasks that can often get pushed to the backburner.
Week 2. Start keeping a daily log
Jot down all of your completed tasks, contributions and accomplishments at the end of each day. “When you are ready to talk about your raise you’ll have a list of examples,” says Walker, including ways you saved time, helped coworkers out of a bind, contributed to team effort, and/or developed a better system. Tracking your productivity will also show you where you need to spend more or less time.
Week 3. Review the company’s annual report
To get more detailed information about the company’s business, finances, management, and a list of contact names, check Freeedgar.com (EDGAR: Electronic Data Gathering, Analysis, and Retrieval system) for 10-K (annual) or 10-Q (quarterly) reports. Publicly traded companies file those with the Securities and Exchange Commission (SEC).
Week 4. Join a professional organization
Surrounding yourself with others who share your passion or your job title may help you network with those who know of opportunities. Also, staying abreast of trends and new developments in your field will make you a more viable employee. Use the Encyclopedia of Associations through LexisNexis as a reference to find associations relevant to your field. Head to your public library to access the site.
Week 5. Examine the market
If your professional association doesn’t offer salary surveys, look for specialty sites, like Careercoachrd.com, that address the needs of your industry. Jobsmart.org, Monster.com and Salary.com are also great resources. Whitcomb also advises asking people in your network about salary trends for your position and those above yours: “What’s the going rate for someone with my experience at your company? What would a top performer earn?”
Week 6. Learn the higher-ups in your company
Knowing who the key players are is a smart and easy way to move ahead. Check company Web sites or popular sites such as Hoovers, Bizjournals, Bloomberg, and Dun & Bradstreet to search general information (board members, higher-level employees, etc.) for free. For a more in-depth look at corporate information, you may have to subscribe to specialized sites, but you can write it off at tax time!
Week 7. Recruit a career coach
To assess your professional goals and plan ways to attain them. “Coaches can teach you how to communicate your contributions and accomplishments, and approach your boss with confidence,” says Walker. “They can also guide you on how to establish relationships with potential mentors or those who will champion your cause, and how to network effectively at professional association meetings.” To find a career coach in your area, visit Certifiedcareercoaches.com, a national database of certified coaches that can help you assess your next move.
Week 8. Enroll in a certification class or training seminar
Added skills equal added qualifications, Walker says. The better your skills (backed by recognized certification) the higher the pay scale you are eligible for. Not only will getting more training win points in your supervisor’s favor, it’s also a great coup to add to your résumé. And seek training both in and outside your specific job function to round out your skillset. For example, if your position is heavy on the creative side, look for classes that help with management and problem-solving. EEI Communications (Eeicommunications.com) offers a range of training courses for certification in everything from management to publishing and design.
Week 9. Organize an office-wide function
From planning a canned goods drive during the holidays, or forming a team for the Susan G. Komen Breast Cancer 3-day, management loves to see those who can take charge and successfully organize and shepherd projects. Plus, you’ll get your name out to higher-level executives who might not have known it otherwise. Best-case scenario: The person you work alongside for the event could turn out to be a champion for you.
Week 10. Volunteer for a new assignment
Whitcomb also suggests asking your boss for projects that will give you more exposure in the company. Network beyond your comfort zone—engage leaders from other departments, vendors, customers, and so on. Taking on more responsibility is leverage for asking for more money.
Week 11. Have the talk with your boss
Schedule a meeting with your supervisor to talk about a raise. Take important documentation such as certifications, documented praise, an updated résumé, research on the market, etc. Be clear about your professional advancement and its impact on the company’s bottom line. “When ‘languaging’ the topic of salary—keep the conversation centered on value and find common ground,” says Whitcomb. Some sample “conversations” include:
Ms. Manager, I’m excited about where the company is headed, and have been looking at my long-term goals at the same time so that I can contribute even more value to the company. In the next X months, I’d like to take on some projects that would expand my scope of experience and allow me to contribute in the areas of ___ and ____. My financial goals are to be making a base of XX dollars plus bonus within that time frame, as well. I have some ideas about how that can be accomplished, as well as the return on investment the company would realize as a result.
If the manager says there’s nothing available, ask when there might be money:
I respect that reality, Mr. Manager. When does budget money become available? January, you say? I’d be glad to visit the subject now and, provided you see value here, take on my new responsibilities in January.
If there “isn’t money in the budget” ask:
Mr. Manager, What would you need to see from me in order to help you find the budget money? What kind of response, what kind of ROI, what kind of accomplishments would help free up money?
Week 12. Reassess the situation
Even if you’ve presented your case, and it was met with resistance, keep the doors open for continued conversation by asking permission to revisit the subject at a future date. After agreeing on a meeting time, Whitcomb says to mark your calendar to remind you about following up with your manager. Plot out weekly check-up times to meet with your career coach to make sure you’re on course with progress. “Creating momentum is critical,” says Whitcomb. “Your ability to persevere will be a sign to your manager that you are, indeed, ready for more responsibility.”
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