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Asking Boss for a Raise (Long)
I don't normally frequent these boards and am mostly a lurker but thought I would see if anyone has any suggestions and/or moral support!
I have been with my company for 2 years now and the only salary increase has been 2.5% and 3% COL increases each December. I currently receive my base pay plus a $2,500 quarterly bonus for meeting my goals and 5% commission for a service that I contract. The problem with the commission is that I do not receive it until the service has been delivered which can occur anywhere from 6-18 months. I have a PhD and feel that I am being under paid even when you add everything up.
We are a small business (10 employees) and my position is pretty specialized. I manage 2-3 people who work on contract with us, so not day to day. I don't see my position being able to change much but think that I should be compensated for my hard work. A collegue of mine has received two promotions with the company (one last summer and one just this spring). I am sure they have come with a pay increase but also know that she was making less than me to begin. Our positions are very different and she now manages 5 people within the company.
My boss is really cool and feel really comfortable talking with him, except I get very nervous when it comes to money and job stuff. I have been having anxiety over this for the last 3 weeks as he is away on vacation and plan to have the talk next week.
My plan is to go in and ask to talk about a 2 year performance review with him and ask him how I have been doing and if he has any concerns. I also want to bring up growth within my position and where he sees me within the company. I would be happy with a $5,000 raise or more of course! How do I bring this up in the most professional way? Because my position is very unique it is hard to find these types of positions on salary.com to see where I fall as far as salary.
Any help would be greatly appreciated!!!!
Re: Asking Boss for a Raise (Long)
Why don't you consider the 2.5% and 3% raises? Those are pretty typical raises to me. Have your duties changed?
What percent raise is 5K based on what you make now? To argue for a raise you generally need to argue how you've benefited the company. You seem to be focusing your argument more about how you're under paid. That is much harder argument to make.
The 2.5% and 3% have been cost of living increases and have been provided to all of the employees. I have not been rewarded for my work individually at the company. I definitly have proof that I have benefited the company and over the past 2 years my work has increased from managing 1-2 projects to now over 18 (all at various stages) plus my other duties. I have also become more of a public speaker within the industry and for our company and am working with my boss to get a second paper published this summer.
I definitly am not going to go into the meeting and tell him that I think I am under paid, I believe I have lots of examples of how I have benefited the company. I also want to talk about growth within the company for me and how that can be beneficial for both.
Do you have any knowledge of the companys financial standing? I'd want to be sure that they could afford to give you a raise before asking. If things are tight for them, your asking might prompt them to tell you that you should be looking for a new job if you think you are underpaid.
I havent had a raise in YEARS but I have a good job with benefits and perks that I couldnt get anywhere else in my area. I know the company financial situation ( I am the bookkeeper) and would actually take a pay cut...but only if they suggested it!!
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