Lose the nerves and ask for a raise

Does asking for a pay raise make you nervous?

It does for most people, but it shouldn’t. The odds are in your favor.

Three out of four times women ask for a raise, they get it, according to a Glamour survey of 2,000 men and women. But that hasn’t stopped debate over whether there remains a need to ask.

Last week, Microsoft CEO Satya Nadella ignited controversy when he was asked at a computing conference about advice he would give women who don’t feel comfortable asking for a raise.

“It’s not really about asking for the raise, but knowing and having faith that the system will actually give you the right raises as you go along,” he answered. Not asking for a raise, he added, was “good karma” that would help a boss realize the employee could be trusted and should have more responsibility.

His comments set off a firestorm of outrage from women, and Nadella quickly back-pedaled and apologized.

Still, his comments brought pay inequity and women’s general reluctance to ask for raises to the forefront.

I asked a few CEOs for their thoughts on how to ask for more money. Here's what they said:
 
Watch your language. Neena Newberry, a leadership expert with Newberry Solutions, says in today’s workplace, few people   are offered sizable raises unless they negotiate it. When asking, she says to consider tone and language. You don't want it to sound like you're giving an ultimatum. You do want to tie the conversation to the value you bring the company and they value they get in giving you a raise.
 
* Come prepared. Sandra Finn, president of Cross Country Home Services in Sunrise, says compensation adjustments are driven by the value you bring to the organization. “Have you demonstrated the drive and passion to stand out from the crowd and have you delivered more than what is expected?” If so, come prepared with the data, she says.

* Know that market. Maria Fregosi, Chief Capital Markets Officer at Hamilton Group Funding, says take calls from recruiters, not necessarily to leave your current position, but to know what is going on salary-wise outside your company. Know the prevailing salaries in your geographic area.

* Rehearse.  “It pays to practice the discussion with a trusted mentor who can help you think through potential objections,” Fregosi says. “I have found sticking to facts and working to take the emotion out of it to be most effective.”

* Don't make it personal. A boss doesn’t care that you need more money to pay for your divorce attorney or to make higher car payments. “I have had people ask for a raise because their personal expenses have gone up,” Fregosi says. “That is not a legitimate reason to ask for or to be given a raise.”

* Don't compare. Even if you find out your co-worker earns more than you, "make it about you, not Joe. Sell your boss on why you should earn more,” says Victoria Usherenko, a recruiter and founder of ITWomen. She also suggests identifying an internal mentor who will advocate a raise on your behalf, too.

* Start the conversation in advance. In most workplaces, salaries are reviewed annually. Start talking to your boss about getting a raise three to four months in advance of your review. Usherenko believes performance reviews are not the only time to negotiate salary. “If six months pass and you’ve done something outstanding, there’s no reason not to ask for a raise if you feel your contribution warrants it." 

* Be strategic. Peggy Nordeen, co-founder and CEO of Starmark International in Fort Lauderdale, suggests asking your employer how you can increase your value to the company in order to earn more money. 

Experts say the research shows most people who ask and make their case, get the raise. Of course, receiving a raise may have a caveat. You may have to take on more responsibilities. Think ahead about whether you are willing to do that and how it will affect your work life balance.

 

Read more here: https://www.miamiherald.com/news/business/biz-columns-blogs/cindy-krischer-goodman/article2768366.html#storylink=cpy

 

 

The Work/Life Balancing Act

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