Think you're worth more money than you're making? Maybe it's time to ask your boss for a raise.
Tory Johnson, CEO of Women For Hire, offered these tips:
Don't skip the process. Many people avoid having a conversation about salary because they are uncomfortable talking about money. They also assume that any requests they make will fall on deaf ears. That's a cop out. You have to be willing to step up to the plate.
Do document your achievements. Think about your performance, the demands of your position, your past and future responsibilities, and your track record for the past year. Be able to quantify and qualify your success whenever possible.
Don't get emotional. In an effective negotiation, focus on being respected and fairly compensated. You're asking for more money because you're smart and competent, not because someone likes you as a friend.
Do research comparable salaries. Before discussing salaries with your boss, do your homework and find out the going rate in your industry. Figure out what comparable positions pay based on level of experience, education and geography. Check with the Department of Labor statistics, survey sites such as Salary.com, and industry-specific trade associations. It's okay to ask friends what they make, but realize that they may inflate their answers.
Don't make empty threats. If you tell your boss you are going to leave unless you receive a 10 percent raise, then be fully prepared to pack your bags.
Do offer alternatives to a pay hike. If the company won't budge on your base salary, see if they will agree to a bonus, a better title, commuting expenses, more vacation time or anything else that is important to you.
