The Art of Negotiating a Raise, Promotion,
Better Job Title, and Bonus
Written by Teena Rose, a columnist, public speaker, and
professional resume writer with Resume to
Referral. She’s authored several books, including "20-Minute
Cover Letter Fixer"
and
"Cracking
the Code to Pharmaceutical Sales."
[Read Part I of II; "The
Art of Negotiating a Raise, Promotion, Better Job Title, and Bonus"]
Create a Master Plan and Portfolio
When you’ve come to conclusion that you need more, start by
building a master plan. Mapping out specifics on why you
deserve a raise and listing areas where you’ve done great
work will help you outline the steps to obtaining a raise —
and any other add-ons you’re seeking. Points to include:
-
Create a bulleted list of fresh achievements,
incorporating numbers, percentages, and dollar amounts
whenever possible. Examples of achievements include top
sales/revenue generated, project finished before deadline,
product or service improvements, and so on. List 5-7 top
and most recognizable accomplishments.
-
List added responsibilities. Focus on the last couple of
years and avoid going back too far (i.e. three or more
years), keeping the information fresh.
-
Insert a list of recent trainings and credentials, or a
degree that you’ve received that is ultimately benefiting
your employer. For example, those who obtain a bachelor’s
or master’s degree definitely 1offer more to their
employers after the degree than before.
-
Include copies of praising letters and emails from
clients, superiors, and colleagues.
-
Finally, devise a timeline. Keep in mind the
record-keeping schedule of your company. For example, if
asking at the start of a new fiscal year will increase
your chances then pinpoint a feasible time.
Take the bullet points, your timeline, and other
documentation and place them within a decorative folder or
three-ring binder. By placing this information into a
detailed portfolio, you will end up with a consolidated and
professional presentation. Expand your portfolio every
couple of weeks, if possible.
Employers know that positions oftentimes expand and contract
in accordance with changes in business. Rather than
recognizing these opportunities as a bad sign, because you
will take on a larger workload, look at it as a positive
good. New projects and work duties mean new opportunities to
learn and expand your knowledge on other facets of your
employer.
Even though you prepare, plan, and do everything right, a
pay raise may not be in the cards. In the current economy,
some companies are experiencing significant growth, while
others are lagging behind.
Asking for a raise may seem reasonable and achievable,
however, the answer may not be in one’s favor. Some
businesses cannot afford the added expense, therefore, be
prepared to discuss an alternate plan such as a more
prestigious job title.
Before you enter the room, take a deep breath. Preparation
is the key to success. |
