by Vicki Salemi
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Do your homework by asking your company's human resource compensation department for salary ranges within your position. Of course, you can't just take their word on it. Check external sources as well, such as www.salary.com. Sharon Winston, senior vice president and managing director of the San Jose office of Lee Hecht Harrison global career services firm, notes you should be prepared for the talk with your boss.
"Identify three of your strongest accomplishments within the organization or areas in which you took on extra responsibility," she says. "If you are still turned down, ask how you might improve in asking for a raise in the future."
Step 2: Pursue an online degree or certificate.
According to Frank Mayadas, program director of the Sloan Consortium, comprised of institutions and organizations committed to quality online education, higher education gives you the opportunity to fine-tune your skills or explore different professional paths, making you more for higher paychecks in the future. "Furthering education helps people further their careers," he says. The advantage of online degree opportunities?
"You don't have to be in a traditional classroom setting. With time and geographic constraints of juggling work and family, you can receive a quality education on your own terms."
Step 3: Take advantage of tuition reimbursement.
Instead of considering a pay increase as money in your pocket, think of the alternative: tuition money you're not putting out of pocket. Many corporations recognize the value gained in highly trained employees and offset the cost of their educational pursuit. And, as more and more organizations understand the benefits and equality of online degree programs, eLearning is being written into many organizations' reimbursement policies.
Step 4: Network.
According to Deborah Brown-Volkman, president of Surpass Your Dreams, a career and mentor coaching company based in East Moriches, NY, and author of "Coach Yourself to a New Career: A Guide for Discovering Your Ultimate Profession" (iUniverse, 2003), networking is vital to increasing your intellectual capital. The key to networking through associations, business groups, or your local Chamber of Commerce is having a plan.
"Know your 30-second introduction well, speak passionately about what you do, and don't spend too much time talking with one person," she advises. The intent is to meet as many people as possible and initiate correspondence with them soon after the event.
Step 5: Move laterally.
Alexandra Levit, author of "They Don't Teach Corporate in College"(Career Press, 2004) and founder of Inspiration@Work, a marketing communications consultancy firm based in Chicago, IL, experienced this firsthand. Early in her public relations career, she explored internal opportunities and moved into another department, resulting in a bigger paycheck. "If you're not moving up, it's probably in your best interest to leave," she says.
Levit also points out that even if your supervisor is supportive of a raise or increased responsibilities, there may be roadblocks. "Your boss might not have the power or authority even if he or she wants to," she says.
Above all, before jump-starting your negotiating power, you'll need to exude confidence to show you deserve what you're asking for in the first place. As per executive coach Dr. Ted Sun, professor at University of Phoenix and professional speaker who works with individual executives and corporations to educate them on developing a balanced leadership, "the first thing you have to do is believe in yourself and your worth before you can convince someone else to believe in you."
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