Laura Rowley, who writes the Money and Happiness column in Yahoo Finance, devotes a recent column to getting a raise in a soft economy. With tough economic times upon us, we're all finding it a little tougher to make ends meet, even in knowledge-based fields such as science and technology. Rowley's article is titled, "Seven Ways to Get a Raise in a Soft Economy," but she really discusses seven mistakes people make that prevent them from getting a raise. Here are a few of those traps to avoid.
Mistake 1. Assuming you can't get a raise. Human Resources and Finance departments, particularly at academic institutions or not-for-profit organizations, often make it seem like getting a raise is next to impossible. They need to set policies and salary structures to encourage planning, effective budgeting, and financial transparency. And even in the best of times, research money is tight somewhere. However, if you're good at what you do, you can still make a case for a raise, no matter what the intimidating chisled-in-granite salary charts may say. Which brings us to ...
Mistake No. 2. (Not) Justifying your request for a raise. Don't make make your case for a raise on the price of gasoline or Pampers for the kid, but on your value to the organization. Rowley offers a number of tips, but the most important comes in a quote from executive coach Robert Lorber, who says, "Look at what you can do that adds value" to the organization. Have you thought of a new or different way of getting things done in the lab that may have saved some money? Or did you suggest a potential commercial application for some research findings? If you can show that an increase in your pay is a bargain, your management will more likely see things your way
Jumping ahead ...
Mistake No. 5. Promoting your unconventional style. Rowley offers an interesting idea for using social networking services to get a raise, or at least discover the dominant successful career path in your organization. Managers of even the most off-beat or entrepreneurial organizations generally like to reward staff who seem the most like themselves. Rowley recommends signing up for the networking service LinkedIn, then search for profiles of other staff from your organization. From those profiles, you may be able to find pattens or similarities for how the more successful staff members have made it, and you can plan your own ascent up the organizational ladder accordingly.
Rowley's other four tips are useful as well, and in some case, quite amusing, such as ...
Mistake No. 3. Asking at the wrong time ... like just after you've come back from a vacation.
