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April 09, 2021

Don't you think it's about time you got a raise?

Ok, we get it. You’ve been working beyond your job description, making up for last year's lay-offs for months now.

You know you're actually overworked and underpaid although, according to your mother at least, you're actually “lucky to have a job.”

It's clearly time for a raise. But, before you bang on the door, consider the following steps, say the folks at PayScale who regularly track who earns what.

You need to know not only what your organization pays people for your current or upcoming role, but what competing organizations would pay as well.

Figure out your worth in the marketplace by using an online salary calculator with some Canadian data. Also check job listings and pay ranges, to see if you're the rare find you think you are.

Be sure to stage the discussion carefully, suggests career coach Bob Rosner.

Sell your worth. Securing a raise isn't about your needs or about the recession, it's about the value you've added to your organization. Along with salary data, provide examples of where you saved or made your company money. Maybe you recently landed a lucrative client, for instance.

Pick the right time. Choose the right time before you ask your boss for a raise. Prepare your case and then head into that office at the first sign of good news.

Prepare to renegotiate. "No" is difficult to hear but it doesn't mean you don't deserve the raise or won't land it eventually. It will be easier to take the plunge next time, particularly if you have a good idea of why you weren't successful this time around.

Don't pout. No matter how frustrated you feel, don’t say anything resembling, “Well, now I’ll have to consider whether I’ll be able to stay here” or “I guess I’m not as valued here as I thought I was,” adds career coach Alexandra Levit.

When was the last time you asked for a raise? Any success? Any suggestions?

By Gordon Powers, MSN Money



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Gordon PowersGordon Powers

A long-time fund company executive, Gordon Powers now heads up the Affinity Group, a financial services consulting firm. Gordon was a personal finance columnist for the Globe & Mail for many years, has taught retirement planning...

Jason BucklandJason Buckland

The modern-day MC Hammer of money, Jason can often be seen spending cash that isn’t his with the efficiency of a Wilt Chamberlain first date. After cutting his teeth as a reporter for the Toronto Sun, he joined the MSN Money team with...