Prep for More Pay

dw_phoneMake a Plan, Stan
So you want a raise! Whether you plan to negotiate a raise next week or next fall, the key is careful prep work, says Kathi Elster, an executive coach in New York and co-author of the bestseller, "Working for You Isn't Working for Me."

Raise Your Profile
Start with a snappy memo of your achievements, and add small wins that might get overlooked: a rave from a customer; your eagle eye on the competition; the 17 weeks you covered Maryann's maternity leave.

Tip: Write down your successes daily or weekly so you don't forget them. (Bonus: A steady and well-deserved ego boost.)

Know Your Allies
Ask managers in other departments to put in a good word for you. If you're self-employed, collect praise from colleagues in your industry. Volunteer on projects that expand your visibility, skills and contacts.

A Winning Strategy

  • Know your worth by doing market research.
  • Role play with a friend or mentor and rehearse all the possible scenarios, advises Amanda Steinberg, DW's earning diva.
  • According to this fun how-to video, ask for a raise when you're doing significantly more than when you were hired. Added value justifies more money.

Bottom Line
Know your own bottom line before you walk into your boss's office. If she says no, are you willing to try harder? Revisit in three months? Take perks in exchange for cash? Or start polishing your resume? Part of knowing your worth is realizing that you have options.

Tell us your experiences asking for more money.

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