Raises And Promotions
Should I wait to be offered a raise or ask for one?
When it comes to raises the best thing to do is ask for a raise, be proactive. A lot of times employees think that they have to sit back and wait. They have to wait for their review, wait for the annual bonuses and raises to come around and that simply does not have to be the case. If you have completed a significant project for example you may very well be due a raise and if you have gone above and beyond the call of duty in your job or perhaps done the work of two people and that's not what you were initially hired to do then by all means it would very fair and reasonable for you to ask for more money.
What is the typical annual amount for a raise?
A typical annual raise can range anywhere from a low of 3% to a typical high of about 13%. And most raises, you're going to find, will be between five and eight percent depending on your performance. Certainly, there are bonuses and other types of things that come into play, but for a raise, you should be looking at somewhere around five to eight percent.
How can I ask for a raise or promotion and get it?
The best way to ask for a raise and/or a promotion is to be straightforward and go in there armed with information. You can go into your boss's office with a list of accomplishments, things that you have done for the company and particularly things that are quantifiable. If you can show your boss "This is how I help the company make money, save money over the last quarter or the last year," that's going to be very, very strong ammunition that you can use to justify that raise and that promotion. The other thing that you want to do is, if you are asking for a promotion, be sure to explain to your supervisor how this promotion is going to enable you to make even greater contributions to the company. That's absolutely key; it has to be worth it to them.
What do I do if I was passed over for a promotion?
You know, when you are passed over for a promotion it can really, really, sting. The most important thing is to not show that at work. Let your employer, your boss, know that you really wanted that promotion and perhaps ask why the other person was chosen for the promotion instead of you. Don't do that in an offensive way but rather in an information gathering, how can I improve and do things better next time sort of way. That's going to be your very best strategy. But continue to let your supervisor know that you do want to be promoted, that you do want to make a long term commitment to the company and what do you need to do in order to make that happen.
How do I determine my true prospects at a company?
You'll know that you have great prospects in your current company by a few key things that the employer will communicate to you. Number one, you'll hear on a pretty regular basis, “Great job! Well done!” You'll get more responsibility and additional projects that you'll be asked to lead or spearhead. That's also a very good indicator that you're becoming indispensable. If you're asked to lead a team of people, if you're asked to start supervising others, and assuming a leadership role, that's also a very, very good indicator that this company has long-range plans for you. If they also start sending you for continuing education and additional training, that's a good sign. They're not going to invest money in people they're not thinking of keeping around for a long time.
