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Monday, August 25, 2014

What Are You Worth? - How To Secure A Pay Raise

You've been trudging along to the same job for a while now, and as it happens to so many of us, you've become entrapped in the daily happenings. Chances are that perhaps you have even forgotten that you are a valued employee, and that your efforts are incredibly necessary to the company's success. You may have become so comfortable with what you know and do on a daily basis that you no longer realize your true value to the company. It may be that at this point you recognize that you too do this on a daily basis. Perhaps by now you are even contemplating exactly how much you really do contribute to the company without proper recognition?
If so, then I implore your awakening! You are indeed a valuable member of staff. Why else would you be employed? Realizing your true value will allow you to be comfortable enough to ask for a pay rise. It doesn't have to be a scary task if you are fully aware of your daily functions, and why they are necessary to your company's success. If you feel you go above and beyond what your job title requires of you, then you should be able to back up your argument easily.
The initial part of this process is to request a meeting with your line manager or superior. Specifically the one that is likely to have the power to make this decision. I say this, because a few times I have been brave enough to ask my immediate supervisor for a review of my pay, and the response I received was nothing short of patronizing. Phrases such as; "Ha! Wouldn't we all like one!" and "Ah, yeah you and me both mate" were often thrown around. To bypass this type of demeaning response, I suggest you ask to meet with the person responsible for making such decisions.
Once you have secured a time to meet with your manager, you need to prepare the reasons why you deserve a pay rise. I also suggest that you write these down as bullet points so you can reference them easier in your meeting. Reasons such as working more overtime are usually not adequate enough to secure a raise. You need to be able to highlight to the company not only what it is you do that deserves a raise, but also the added value the company gets as a result.
I understand that this data may not always be readily available to you if you are trying to highlight various KPI's that you consistently over-achieve. You may still be able to present how you contribute to the company's bottom line revenue by highlighting the tasks you do over and above your job description. If a reasonable employer can see what you contribute, and as mentioned you are able to highlight these details, you will invariably increase your chances of securing a pay rise.
One final consideration is that if they don't budge, then you need to ask them what else you can do in order to be remunerated more fairly. Also ask if they can set a time-frame for this. That way, it doesn't get lost in the myriad of daily tasks your manager no doubt will have.
These tips should help in getting you what you are worth. Best of luck!
Check out the Author Bio for more details on IM, Forex, and coaching.

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