Carol Frohlinger, J.D., Co-founder, Negotiating Women, Inc., told Women & Co. in a recent article, “Even if your boss is your biggest fan and believes you deserve a raise, chances are he or she will be facing some constraints, limitations, and/or parameters. Figure out what they are, and then identify smart, creative ways to rise above them.” If you’re lobbying for a raise for yourself or other people you manage, you might want to demonstrate how you and your team can work more cost-effectively to free up more money in the budget for compensation, for example.
Think about what your boss might say in response to your request. How will you answer? If a raise is off the table, you might want to ask about alternative forms of compensation, like professional training or a one-time bonus. If your boss asks you how much you want, what will you say? The more prepared you are, the better off you’ll be.
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