Undoubtedly one of the most nerve-wracking times of any job is when raises are getting handed out.  Most people believe they are getting paid less than they deserve or are working too many hours for the salary they receive.  While employees tend to overvalue themselves when compared to what employers are willing to pay, if you have enough research to back up your request for a raise, there are several tactics you should know before you march into your boss’s office and demand more money.

                To begin with, don’t for a minute believe that because your boss likes you, he or she will definitely give you a raise.  The only determinant for salary is your perceived value to the company, so if you are friendly with everyone but do little work, you might want to reconsider asking for more money.  If you think you’re on the borderline, in the weeks before you plan to ask, make sure you work diligently, going above and beyond the call of duty.  Make sure you don’t appear to be “sucking up,” however, as that will most likely cast you in a negative light when it comes time to hand out raises.  Instead, work as a model employee (which you should be doing anyway).

                Once you’ve built up a sufficient amount of tasks that you’ve completed, keep a log of what they are by date.  This will aid in your presentation, as you can clearly point to the dates when you completed different responsibilities, focusing on the ways they have helped the company.  This type of proof will be invaluable to you in convincing your superiors of your value to the company and of the need to reward you with a raise.

                If you can outline what you do for the company, how efficiently you do it, and why it is valuable to the company, spend some time researching what a typical person in your field with your level of experience makes.  Salary.com and stats.bls.gov/ocohome.html are excellent resources for this, but you can also look at your local library and at other sites on the Internet.

                Once you’re equipped with the proper resources, you have two options when it comes to presenting to your boss—either schedule an appointment to discuss your salary with him or wait until your next performance review.  Most companies have an annual or semi-annual review for all employees, at which time they evaluate your performance over the preceding year or half-year and decide whether or not to give you a raise.  If you are close enough to this time, you should probably wait until then to make your case.  If your review is still several months away, make a formal appointment with your boss at a time when you know he will be available to give you his full attention.

                When you meet with your boss, make sure you convey your reasons for wanting a raise.  Don’t include personal reasons, like “I want to buy a better car,” or, “I need more money for college.”  Your employer is, as stated before, concerned with your value to the company, so point out the things you have done in the past that have furthered the company’s goals.  Make sure what you’re requesting is realistic—don’t ask for a 300% increase in your salary unless you’ve suddenly been given 300% more responsibility.  Also, don’t offer an ultimatum (“If you don’t give me a raise, I’m quitting”) unless you truly intend to quit if you don’t get a raise.

                If your boss agrees that you deserve a raise but can’t afford to pay you more, try to expand your benefits instead—get additional vacation time, expanded medical coverage, or a better employee discount.  If your request for a raise is denied, try to find out where you can improve, so that next time you ask, your boss will have no choice but to reward your efforts.  Not only will the company be happy with your performance, but you’ll be happy, too—all the way to the bank.