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In an age of stagnating wages and slow economic growth, getting the raise you deserve is more difficult than ever.  Here are some tips that may help you get that pay increase.

 

  1. Create a case:  Write down your accomplishments and contributions to review with your boss. Get others in the organization to endorse your work via emails you can share with your manager. Keep “praise” in a file all year long, so you can handily refresh your (and your boss’s) memory when the time comes.

  2. Do your research:  Find out how similar positions are compensated using industry resources such as glassdoor.com, and determine a fair salary number before any raise talk. As many women face a gender pay gap, it can translate to a retirement savings gap. Plus, since women tend to outlive men, their savings needs to last longer. Know what your work is worth so you can make sure you’re being paid appropriately.

  3. Schedule a meeting:  Let your boss know you want to talk about career growth.  Practice your raise request with a friend.  Begin the meeting positively (“I love working here…”).  Be diplomatic and assertive. And bring you salary research, a list of responsibilities and successes, and an explanation of any personal development activities you’ve taken on to increase your value.

  4. Consider timing:  Timing is key. Don’t ask for a raise a week after a broad layoff or when your boss is in the middle of a particularly stressful project or season.

  5. Be patient:  A salary adjustment can take time in getting the necessary approvals, so practice patience. Normally, your boss will give you some idea of when to expect a raise to take effect. But if they don’t, consider asking casually after a paycheck cycle or two hasn’t reflected the increase.

 

Getting paid your full value not only improves your morale, but the additional income can also help you accelerate retirement savings and achieve your future goals.

 

 

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