Up next in Raises & Career Advancement (8 videos)
You know you deserve that raise and promotion -- here's how to convince your boss.
You Will Need
- Company's financial profile
- Good timing
- Justification for a promotion
- Achievement record
- Perk list
Know your company's financial health
Know your company's financial health. If it's robust, the recession should have no bearing on whether or not you should get an increase.
Ask for a promotion
If your company has instituted a salary freeze, see if you can justify asking for a promotion; they are often exempt from the no-raises policy.
Ask for a raise right after you've done something valuable. If you wait for your review period, the glow of your triumph may have faded.
Explain exactly why you deserve more money. That's often easy to do during a recession, when layoffs mean that employees who were retained have taken on the work of those who were let go.
Ask with confidence, but ask nicely. Come across as enthusiastic about the company, not resentful.
Ask for a consolation prize
If more money is completely out of the question, ask for some other kind of compensation, like more vacation time, stock options, or the ability to work from home. Or consider asking for a better title; it could help you land a higher-paying job when the economy recovers.