Being underpaid is a common complaint, but most people, especially recent college graduates, never ask for a raise.
Let’s face it, conversations around money, especially asking for more money, can be quite awkward and intimidating. But what most people don’t realize until later in their career is that you don’t automatically get a raise for a job well done. Sometimes you will – but not always.
“There is this strange dichotomy in the American workforce, where we have to hustle and work hard,” said Anna Camp, a senior student specialist at George Washington. University. “So there’s this disconnect, where workers don’t ask questions, they don’t ask for higher wages or a better work environment for themselves,” says Camp.
Anna Camp, senior student specialist at George Washington University
Source: Anna Camp
The combination of feeling highly expected in the workplace and that you’re not a good advocate for yourself can lead to an unhappy or toxic work environment.
“I think that has led to some of the problems we’re having, instead of having those conversations we’re leaving for a better chance,” Camp said.
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Some people think it could jeopardize their job or their position in the company if they ask for more. In reality, however, the worst outcome is that the boss will say no, when they are respected for their confidence and assertiveness. The best thing that can happen is that the employer agrees with you, and if money is in the budget, you get a raise.
Now, this doesn’t mean asking for a raise as soon as you walk in the door or just for no reason. There are a few things to keep in mind when asking for a raise:
1. Only ask for a raise if you are being underpaid for the work you are doing.
You need to know what you and the work you’re doing are worth – and ask for a raise when you deserve it.
2. Be prepared. You must start that conversation with research on salaries for this job in your area and with a to-do list of what you’ve accomplished and why you deserve it.
3. Pay attention to the time. If it’s been a difficult time for your company, your department, or your boss, it may be wise to wait as conditions improve. That will increase your chances of getting a raise, whether it’s the full amount you’re asking for or part of it.
4. Be polite but proactive if you don’t get it. If you ask for a raise and you don’t get it, you can do two things: 1) Ask what else you can do – maybe take on more responsibility; or 2) Ask them to consider bonuses, extra vacation days, or something else you really want. They may not have the money in the budget, but if they want to keep you, there are other things they can offer you as a compromise to keep you happy.
Some good news: With inflation running rampant in the US and the Great Resignation event in full swing, a lot of companies are increasing their payroll budgets. Average total salary increase budget is projected to be 3.5% in 2022, from 3% increase in 2021, according to Conference Board.
Some companies automatically give small salary increases to employees every year by 2% to 3% to account for the increase in the cost of living.
That’s what Brad Cox, principal and owner of a 12-person architecture firm in San Jose, California, says he does every employee hiring anniversary.
If a worker is asking for a decent raise, Cox says he wants someone willing to put in the time and research to present a compelling argument. “I’d be more inclined to give someone a raise if their job function changes and they’re basically promoted to another area of money. I’d like to see data on what the market is doing and what the market is going to be like. what their colleagues create,” he said.
Asking for a raise without substantial statements to support the claim is a red flag for employers worldwide. Cox is a firm believer that the gains should match the current market as well as what others with the same skill level are doing.
Cox also points out that employers would be well served by making sure they don’t underpay or overpay employees.
“It’s really important not to get into a situation as an employer where you underpay a good performer and somehow overpay a poor performer. It’s death to culture. culture of a company. Eventually they’ll figure it out somehow,” he said.
While some employees are sure to earn more than others depending on the circumstances, it is a good practice that the pay disparity reflects something tangible that prevents problems from arising. more among employees.
There’s also no one-size-fits-all approach to asking for a raise. Don’t just copy what others did. Find what’s right for you.
In 2019, Karl Melchior, a graduate student at American University, took a job at the Mike Cairns Environmental Sustainability Program at West Nottingham Institute, where he supports sustainability programs and promotes it. eco-active teaching. After about a year in the position, he decided to pursue a raise.
Karl Melchior, a PhD student at American University.
Source: Karl Melchior
“I wasn’t specifically asking for a raise – that was during my contract negotiations. I gave them basically a value proposition because they were in the process of looking for a teacher. So I offered to teach one of the classes to give me a raise,” Melchior said.
Even though Melchior made the offer, the end result was the same: a raise.
Camp was lucky in her last job as a college counselor: When the new leadership arrived, they significantly increased the salaries of all advisors, a development some waited many years. Camp recalls some people even crying tears of joy upon hearing the highly-anticipated news.
This particular moment only further emphasized to Camp how important it is to know how to engage in conversations and negotiations like these when the time comes.
Both Melchior and Camp agree that researching why you should get a raise can make or break an employer’s decision.
Another effective technique is to initiate interviews for similar jobs at other companies. Then, when you get one offer – or more than one – go back to your current employer and look for that extra income.
Melchior suggests: “Come up with multiple offers from similar positions, offer a certain amount, and ask about matching that offer.
In the event that the conversation does not end with your desired outcome, it is important to maintain a strong professional spirit.
It’s also the key to staying optimistic and continuing to work hard. If you change that approach just because you’re angry you didn’t get the raise you asked for, it won’t get you ahead. You will only hurt yourself. The message is, Get over it and stay on track.
One thing you can do is volunteer for new assignments and responsibilities like Melchior. And, check in with your boss regularly to make sure you’re doing everything you can to get to the next level – in your career and salary.
“Always be respectful because you want to at least keep the relationship going even if you can’t get what you want right now. You never know who you’ll work for in the future.” , said Camp.
sPre-College 101″ Is a guide written by college students to help the class of 2022 learn about the big money issues they’ll face in life – from student loans to budgeting and getting a mortgage. first household – and make smart monetization decisions. And, even if you’re still in school, you can start using this guide now so you’re financially savvy when you graduate and start your adult life on a great financial path. great. Christiana Corporon is a two-term strategic content intern at the CNBC Council. She is currently a student at George Washington University. Guide edited by Cindy Perman.
