Consumer News

This Could Be The Time To Ask For A Raise

By Paula Ebben, WBZ-TV
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(File image credit: NOAH SEELAM/AFP/Getty Images)

(File image credit: NOAH SEELAM/AFP/Getty Images)

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BOSTON (CBS) — Ask almost anyone these days; chances are they are doing more work for the same money. But in this environment, a lot of workers are too afraid to approach their boss about a raise. They know the unemployment rate is high and many are just happy to have a job.

But that didn’t stop Teasha Kinder. She asked for a raise recently and she got it. “I felt like all the work that I put in and all the extra work I took on and everything that I learned, it was deserved,” she said.

Even though many companies are still struggling, some experts say it actually may be a good time to ask. “It’s precisely when companies aren’t spending, aren’t under a lot of pressure to dole out a lot or raises. That there is likely to be money available to reward a few employees,” explained Shirit Kronzon of the Wharton School of Business.

WBZ-TV’s Paula Ebben reports.

The key is: Are you one of those employees?

You have to be able to show your boss how you stand out and exactly how you contribute to the success of the company. “It’s not about emotions,” explained lead strategist at GetRised.com. “It’s not about deserving or needing or wanting a raise. It’s about presenting a rational case for why you are valuable to the company,” he said.

If you do decide to approach your boss make sure you carefully think through your argument. Be sure to include:

  • How long it’s been since your last raise.
  • What people in similar positions make at other companies.
  • Your specific accomplishments.

Teasha’s advice: Keep a running list of the ways you have made positive contributions to your company’s bottom line. “If you have everything to prove why you deserve the raise, then you should keep track of them because nobody is going to keep track of them for you.”

If your boss says there is no money for a raise, ask if you can revisit the issue in six months.

You may not get exactly what you want but you will have a good idea of where you stand.

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