Very few people wish they made less money at their current job. The fact of the matter is we all believe we’re worth more than what we’re paid. The trick is that very few people do what has to be done in order to make more money at their current job. Fortunately, there are a few simple but effective techniques you can use to try to get the raise you deserve.
First of all, you need to do some research. You need to be able to support your argument for making more money at your current job. There are two prongs to this research: external research and internal research.
External research has to do with the overall job market. If you want to make more money at your current job as an architect, you need to be able to demonstrate to your employer how much other architects make. Don’t focus just on average salaries here; instead, make sure to hone in on important factors such as your architectural specialty or your years of experience.
You also need to spend some time on internal research. This has to do with looking at your specific job in relation to the overall company’s well-being. For example, if you’re an accountant who has saved the company $250,000 in the past two years, you can use that information to demonstrate your worth to the company. In many cases, to make more money at your current job you just need to show why you’re worth it in terms of dollars and sense.
Before you take all of this data to your employer, it can help to put out feelers to other companies, as well. While a full-blown job hunt probably isn’t wise, it won’t hurt to have other offers on the table. In fact, you can use another offer as leverage to make more money at your current job.
When it comes time to talk to your boss, be prepared. Know how you’re going to build your case. Bring your data with you in an easy-to-understand format, such as a chart or a graph. Lay out the case for making more money at your current job in a logical but compelling way.
Finally, you should try to anticipate objections. Be ready to defend your past performance, if necessary. Don’t threaten to leave the company, but focus on the positive things that you bring to the table.
Even if you have a strong argument as to why you should be making more money, recognize that you may not get it. Your employer may not be able to afford more money, or they may be unwilling to pay. Still, you won’t ever know if you don’t ask.