Dare you ask for a raise now?

Recently, I read a great article in Fortune about asking for a raise in this difficult economy. Here are the salient points from this article.

·         A recent Mercer Consulting study of 850 companies states that over two-thirds (67%) of U.S. employers are planning pay hikes for at least some of their employees before the end of this year.

·         Companies realize that they need to retain talent (i.e., keep their best performers happy) and be ready for the economic turnaround.

·         If you are going to ask for a raise, you need to do your homework and be prepared:

o   Prepare and document your achievements (how you have added value) to the company over the last year.

o   Be empathetic and let your higher ups know that you understand how difficult things are now and that you are willing to revisit this discussion in a few months.

o   Be open to others forms of compensation (bonus, paid vacation, paid parking spot, etc.)

To read the entire article, click here:

http://money.cnn.com/2009/06/11/news/economy/ask.for.raise.fortune/index.htm?postversion=2009061211