It is our number 1 financial goal for 2014: getting a raise at work. A new ABC “World News” poll finds that seventy-one percent of employed American adults they are somewhat to extremely interested in learning to how get a pay raise.
So how do you ask your boss? It can be uncomfortable especially if you aren’t prepared and don’t have the right tools when you negotiate. So we asked a group of experts, including two stars of the ABC series “Shark Tank,” to share some of their advice so you’ll be confident when you’re in the hot seat.
“You have to be careful with your words because the words make a difference,” says real estate mogul, Barbara Corcoran. “If you walk in and say ‘Hey, I want a raise,’ it's pretty abrupt. What you want to do instead is say, ‘I'd like to review my compensation, my job duties, and I'd like you to consider giving me a $5,000-$7,000 raise.’”
Before you go into the meeting with your boss, put yourself in his or her shoes. Giving out a raise is a business decision and your boss will have to justify the expense.
“The boss is all about numbers, says Daymond John, founder of FUBU. “Are you gonna increase sales or maybe also take on another position in the company to reduce cost? You always have to think about the numbers ‘cause the boss is thinking about the numbers.”
And don’t forget that negotiating a raise is a skill, and it’s important to practice when the stakes are low so you’ll be confident when you sit down with your boss. Practice by asking for discounts while you’re shopping, or negotiating the price when you have someone clean your carpets.
“It’s almost like a muscle, because it's uncomfortable, that you need to build,” says LinkedIn career expert Nicole Williams. “I just want you to get comfortable talking about money.”
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Real Money: How To Get The Raise You Deserve (BLOG) Updated at :
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Tuesday, January 21, 2014
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