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Get Paid What You're Worth - 5 Tips for Landing a Raise
Last year was tiring for many medical professionals. Whether you were on the front lines or working from home, you’ve likely taken on more responsibility for the last 12 months.
Hospitals, clinics, and other health care organizations made significant changes in 2020 to keep operations running smoothly, all while navigating budget cuts, social distancing guidelines, and public health mandates.
It’s been a lot, but you’ve navigated the process with a positive attitude and a willingness to learn. Wouldn’t it be nice if your commitment were rewarded with a raise?
While the thought of a raise might sound too good to be true, it never hurts to ask. If you present your argument confidently and illustrate your contributions to the team, chances are good management will at least consider the option.
But how do you approach the topic of a raise in the first place? A little bit of planning can go a long way. Here are 5 tips for getting started.
1. Determine if now is a good time to ask.
If you want to increase your chances of landing a raise, it’s important to consider your organization’s financial health. You might not have access to all the data, but there are signs to watch out for.
For example, is management hiring new team members or are they stretching the current staff thin? Do employees receive overtime? Is your boss always trying to cut costs? If there’s a lot of belt-tightening going on, it’s probably best to wait.
If the organization recently secured a large chunk of funding or announced a new business relationship, it might be the perfect time to move forward. Observe your surroundings and make your decision based on those observations.
2. Choose an appropriate time and place.
Every organization handle raises differently. Some stick to a specific schedule; others rely on the results of performance evaluations or other related metrics. If you know you’ll have the opportunity to discuss compensation in the coming months, start doing your research now. The more data you have to back up your request, the more likely management will approve it.
As a general rule of thumb, avoid talking about compensation with your co-workers. Instead, schedule a time to meet with your boss privately when it’s most convenient for them. When setting up the appointment, let your supervisor know what it’s about. A direct approach shows you’re mature and confident enough to discuss your worth.
3. Do your research.
Landing a raise requires considerable effort. To get your boss to say yes, you need to make a convincing argument. But you can’t do that unless you understand the market and what others in similar positions are getting paid.
Before meeting with management, take the time to research jobs that require your same skills, education, and responsibilities. Then, determine the salary offered for those positions. Use that information to pinpoint a specific percentage. Considering the average raise is between 3-5%, try keeping the number within single digits.
4. Frame your pitch so it applies to the organization.
You might want a raise to help finance a new truck, but that information is irrelevant to your boss. To convince them of your worth, you need to illustrate how your work benefits the organization. Admittedly, personal contributions can be hard to quantify.
Think back on all of the new responsibilities you’ve taken on since last year. Write them down on a piece of paper. If you’re responsible for training or supervising others, write that down, too. Ultimately, you want to highlight the things you do that improve efficiency, customer satisfaction, and income. If you have concrete examples of these and other positive effects, you’re more likely to convince your boss that you’re deserving of a raise.
5. Speak confidently and in a non-confrontational manner.
Asking for a raise takes courage. To convince management you’re worthy, you need to prepare in advance and speak confidently. If you walk into the meeting nervous and rush through your presentation or don’t have the data to back up your reasoning, your boss might not take you seriously. Even worse, if you feel disrespected, you might say something confrontational or defensive that you end up regretting.
To avoid these and other potential mishaps, set aside half an hour each evening to rehearse your pitch. Talk to the mirror or get your significant other or a roommate involved. Have them ask questions that challenge you to respond and provide further evidence. By rehearsing what you’ll say in a controlled environment, you’ll be better prepared when you sit down to speak with your boss.
These are just a few of the ways you can increase your chances of landing a raise. Do you have any additional suggestions or recommendations you’d add to the list? Let us know by logging in and submitting a comment below.