March 20, 2013 Many people who work in finance jobs and sales jobs often feel that they are undervalued and underpaid. You definitely feel like you are deserving of an increase in salary, but may not be sure about how to approach the situation. Here are some things to look at to figure out how and when to ask for a raise. The first thing that you should do is find out your company’s stance on salary raises. If you want a good chance at earning the raise that you think you deserve, then you have to know your company’s policies in regards to compensation. If your employer doesn’t have the authority to give out a raise from the higher ups, then you have possibly wasted your time. If the company is struggling or working under a tight budget, then it is unlikely that you will get a raise. They may try to make a counteroffer, such as additional benefits or more vacation time. Once you know more about your company, then you can really start the process. Look at how much others working in finance jobs or sales jobs are making. Check websites and also look at salary surveys to see what the average salaries are in the field. If you are a member of a professional association, look to see if there is any salary information available. When you look at the range of salaries, see where you fit. It is important to look at the number of years that you have been working in the field, and the amount of time that you have been on your current job. Look at some financial reports about the field as a whole to see if demand is growing. When it comes to preparing the argument for a raise to your employer, you have to sell yourself. List all the ways that you have been an asset to the company. Start with the most recent accomplishments and don’t forget previous honors. This will show your employer how successful you are at your job. Do not try to give an ultimatum. Your boss will likely get angry, and that may lead to disciplinary action against you. If you get declined, keep working hard and your boss will notice that. You will get the raise in the future.