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Pay Hike |
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Chose the right time
Start your self promotion much before your employer starts your appraisal. Do not boast about yourself, but let your boss know what you have been working on all year long. Highlight your accomplishments to take advantage of your prospects. Do care to forward whatever appreciation, reward or award you receive from your client or a co-worker.
Do Your Homework
Get to know that what is the market is paying for your position. Build a solid case of yourself by working on how much to ask for. Provide evidence to your superior that you are worth the money. Keep a record of your professional accomplishments and talk up the most impressive ones. Talk about the impact you have had on the business of your organization. Effectively prove your commitment, passion and future contributions. Calculate strategically that how much revenue you have generated
Keep a Backup ready
The smartest ways to try for a hike is to get another contending job offer. But be ready to welcome a change if you are going for this methodology. Do not say that you are thinking about quitting present job without actually meaning it. Be cautious against doing this without thinking about penalty first. Do not land yourself in a position where your boss calls your sham and the whole thing rebound on you.
Think Twice
Do not pester for a pay hike if your company is going through a financially leaner phase.. If the company’s budgets are tight and money isn't handy then better ask if you can work for fewer hours or if the raise would be given to you during the next quarter.
Other Options
If due to some reasons, you can't bargain for a raise then propose non-cash benefits for yourself to augment your pay package. Ask for flexi-time; working from home, increased vacation or ending your Friday a few hours earlier etc as add-ons. Be sure of your plans before talking to your boss so that the negotiation can be carried on with confidence and élan.
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