If you’ve made it this far into the worst economy in decades without experiencing a layoff, chances are you’re out of the woods. Most economists agree that while businesses won’t be hiring much this year, they also won’t be firing much.
Could this be the time to ask for a raise?
“Raises are back,” says Catherine Hartmann, a principal with Mercer’s rewards consulting business.
A new survey from the International Association of Administrative Professionals reports that the most difficult aspect of the current recession is that employees are not getting raises. Of those surveyed, 27% said they haven’t gotten a raise, with 21% saying their workload has increased.
The key to asking for a raise is making sure you’re a key player. To get one, angle for a promotion—those are budgeted for about 7% on average—or seek a bigger-than-usual merit raise.
Strategies to use when asking for a raise:
1. Lay the groundwork. Before touting your ...(register to read more)