Sunday, October 6, 2013

Congrats on your degree, but a raise is not automatic.

Many people still fall under the old assumption that if I obtain a degree that I will get a raise. More and more we see that is not the case. There several reasons why a raise is not automatic. I want to give a couple of quick reasons and what you can do to increase your odds of obtaining that raise.

One reason why its not automatic is that many organizations, and even some businesses' revenue has slowed over the past several years.  Another reason is that advanced degrees are not as uncommon as they were years ago. We are finding more and more people obtaining Masters or advanced degrees. In recruiting for a current position that normally requires a Bachelors degree, I have received a higher number of candidates that have Masters Degree. So in short, a higher degree may not set you apart as much as you think.

Now, let's talk about what you should do when asking for that raise. First, although obvious its often overlooked, make sure you are exceeding the requirements of your position. Please, don't let your reasoning for a raise be that I have been doing this for the past 6 months. That's not a reason for getting a raise, its what is expected of you in order to get that paycheck.  That's a minimum expectation from your employer. Or, at least it should be.

Secondly, prepare a presentation. In your presentation, you should be able to explain why you deserve a raise. This is the place where you will highlight all your professional accomplishments while with the organization. You have to be honest with yourself and make sure you're providing credible accomplishments and not just fluff. Make sure your presentation is both oral and written.

Thirdly, practice and execute. Don't let your brilliant presentation sit and collect dust. Fight off fear and execute. Give it your best and don't go in there half stepping.

And last, be prepared for both acceptance or denial of your raise request. If you receive the raise or not, be prepared to work just as hard, if not harder than you did before. Sometimes, especially when denied a raise, employees performance often suffers and raises and promotions become more difficult to secure. Don't let that happen to you.

Let me be clear, I am not against asking for a raise because you receive a degree. However, I am against you thinking its automatic. If you going to ask, you might as well increase your odds.

Much success to you.

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