Has anyone ever asked for a significant raise?

MommaP12

I know these are tough times, but not for my company.

I recently found out a co-worker who does the same job as me, but has less experience, lesser education and is younger (though I don't count this a factor) is making $10k more than I.  Also found out another co-worker pulled my boss into a room and basically said "I like my job, but need more money" and was given it.

I am currently the breadwinner as DH's business is suffering.  The extra $$ would really help us right now.  But, I also can't afford to have this backfire since I'm the breadwinner, though I don't think it will since as I said, we have had no sufferring/layoffs and my co-worker got the significant raise he asked for.

I am a product manager with 10 years experience and my MBA, to put it in perspective.  The co-workers I mention above have less experience and no post graduate degree.  I want to ask my boss for a 10% raise in my mid-year review in the next week, but am not sure how to go about it.  Any suggestions? TIA!

jellybean529

I have done this. My biggest advice is to make the request about YOU, not what your coworkers earn or raises they've received. Basically give them a reason why you deserve the raise. Go in with your credentials, highlight your achievements over the past 12 months or so, and maybe do a little research on salary.com or the Bureau of Labor Statistics website to find out what the industry standard salaries or benefits for your position would be. Also think about whether or not there are other ways they could compensate you other than money, like benefits, comp time, etc., so maybe you can reduce your other expenses like healthcare and daycare. Good luck!

ETA When I did this, I was asking for 10% but got 5%, which was 2% more than the standard raise. So I guess...also be willing to compromise.

Emmasmom30

I'm planning on doing this in a few months.  My coworker was let go a few months ago and I found out that she was making significantly more money than I was.  She was CRAP.  Which is why they let her go.  Instead of hiring a replacement, they dumped all of her work onto me.  I am up to my ears in work now, doing the job of 2 people.

I feel I deserve to be compensated for this because it is NOT what I was hired to do. 

MommaP12

Thanks for the response.  I completely agree that it will be about me and my acheivements and not financial hardship/comparisons to what others make.  I actually found some good articles about asking for a raise during a recession on Forbes.com and the like and hope that I can get it.  I plan on doing just that too - asking for 10% but willing to take 5%.  Thanks for the input!

fIowerchild

The sticky question - how do you know your coworker's comp? Is it against company policy to disclose compensation?  Even if it isn't, I would highlight your merits and WHY you deserve a pay increase. FWIW, I am the VP of product management, so I understand what you do for a living.  I once had an employee ask for more $$ 'because he needed more' instead of telling me the reasons why he added more value to the company than his current compensation recognized. That technique backfired on him.

I agree with the PPer. Focus on YOU, what you have achieved at the company and why you deserve more.  How long have you been with the company? If it hasn't been long, please don't expect too much. If you've been there a while I think it's fair to make a professional request.

duchess0727

Why not ask for 15% and settle for 10%?  Don't sell yourself short.  The worst thing they can say is no - it's not likely you will get fired over asking for a raise.

I asked for a promotion and raise to match the work I was doing.  I presented a list of the work I was doing and how it was equivalent to a position that was above mine.  I made a list of accomplishments and presented that as well.  I received the promotion and a 25% raise if you can believe it (this was when the economy was a bit better).  You should also mention your graduate degree and experience (without comparing to others but just mentioning what it adds to your ability to perform).

I would ask for a higher raise then you expect to get and that way if they give you something smaller, it might be closer to what you want. 

hiltyn78

duchess0727:

Why not ask for 15% and settle for 10%?  Don't sell yourself short.  The worst thing they can say is no - it's not likely you will get fired over asking for a raise.

...

I would ask for a higher raise then you expect to get and that way if they give you something smaller, it might be closer to what you want. 

this.