1. Money
Susan M. Heathfield

Only Value Added Matters

By September 16, 2013

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In an interview with a magazine, I talked about the importance of doing your homework before asking for a pay raise, not just during these tougher economic times for raises, but any time.

Knowing how you're paid compared to what the local and regional market is paying others for doing your job is a good first step. Maybe you're already overpaid, or you're significantly underpaid. Whichever the case, you want to know before you open up a salary negotiation with your boss.

I identified a second mistake for the reporter. While employers care about you, the fact that you're expecting a new baby or purchasing a new home is not grounds for giving you an increase in salary. When asking for a raise, you need to emphasize the value that you have added to your company by doing a great job. You've saved money, awed customers, increased sales, or significantly taken time or steps out of work processes.

This post says this well - almost poetically, in fact. Michael Allenby and Ben Coe of the Artists Farm say, "If you want to generate more income, then think of how you can generate more value, not more money."

Keep these words close in your mind, if you plan to ask your employer for a pay raise any time soon.

Image Copyright Don Bishop / Getty Images

Comments
March 15, 2010 at 1:42 am
(1) Marsha Keeffer says:

Thanks for the kind words, Susan – much appreciated!!

March 15, 2010 at 2:44 am
(2) Mehboob Ali Lalani says:

Liberal Performance System may give freedom to the Managers to appraise on merit basis without restriction on quantum. However, average increases in salary should be within the budgeted allocation.

This provides freedom to the managers and at the same time sense of responsibility

March 18, 2010 at 7:27 pm
(3) Heath Davis Havlick says:

Nice bit about asking for a raise, Susan. Yes, it’s not the employer’s fault that you’ve taken on a mortgage! Adding value to the organization is what it’s all about.

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