How do I ask for a raise?

Anonymous

September 21,2021 at 1:29PM UTC

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How do I ask for a raise? I have been in this position for 8 years, and I have taken on many new responsibilities since having taken this position.

The company does not contribute to my 401k.

I do not get health insurance through my company, it is offered, but I am on my husband's policy, so I do not take advantage of this benefit that my company provides for everyone else.

At my request, I am meeting with my boss, who is also the owner of the company. I would like to bring this up during our meeting. Any advice?

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Amber GuetebierSeptember 21,2021 at 1:51PM UTC
I was in a really similar situation to yours and got some great advice that really helped me, and I'll share it here:
Do some industry standards research for your salary position and then put it into a document:
Your current salary
The industry standard
Your original job description
Your current role, highlighting new responsibilities
Arrange a discussion with your manager, and share this document with them during the discussion (don't send before, it gets too awkward). Mine was via zoom. I had broached the subject before and was told something like "at the end of the fiscal year" so this time I lead with: "I know you said it might be June, but I don't think I can wait that long. I believe I'm valuable and grossly underpaid, and wanted to share this with you..."
The document is important because it actually helps your manager make the case for you. My manager was pretty new to the company and it was helpful for her, and it worked! I got a HUGE salary bump.
Every situation is different, I wouldn't really bring up the insurance thing because that's a personal decision and doesn't affect how much you should or should not be paid, especially after eight years.
AnonymousSeptember 21,2021 at 2:44PM UTC
Yes. If you’ve been there for 8 years with no increases other than cost of living, you should ask for a raise. But you will need to build a case for it. Research what jobs pay for the skills you have/tasks you complete. Make a “yay me” page of all the good things you do and kudos clients/bosses give you.
I don’t think insurance has any bearing on the situation. You could mention that competitors offer 401k match, but that might be risky if you don’t have another offer in hand.
AnonymousSeptember 21,2021 at 3:33PM UTC
You need to approach it from the value you bring to the firm. Did you take on new responsibilities because others left, or because you grew into those? Highlight the importance of the new responsibilities to your company. You cannot just approach it as, "I haven't had a raise in 8 years, you don't do this, and you don't pay for that."
Highlight the value you bring, from happy internal and/or external clients to cost savings that you've offered, job well done emails, etc.
Compare your current wages to similar positions in your geographical area. If you work in a low cost of living area, don't compare your wages to those of someone working in a high cost of living area, because they'll be dramatically different.