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Time for a Raise? Here's How to Ask Your Boss

Salary. Base compensation. Hourly pay. Bonuses. However you define the money you make, one thing's for certain: it can be stressful asking for more of it. However, it's important to keep in mind that it's okay to ask, even if the execution feels uncomfortable and comes across as awkward. Your delivery will improve over time, and what matters most is that you initiate a conversation around money if you feel you deserve a raise.

[See: 12 Steps to Asking for a Raise -- and Getting It.]

Remember, the labor market is growing right now, and job seekers are in the driver's seat. Yes, it's incredibly important to negotiate your job offer during the hiring process, but often people forget to continue that negotiation throughout their tenure at a company. The more you get accustomed to simply speaking about money in general, the easier it will feel when it's time to ask for a raise at work. And it's essential that you do: According to a recent poll conducted by Monster, 29 percent of participants said they haven't received a raise in over a year.

Why is this happening? Well, if you simply spend the year waiting for your boss to inform you of your annual increase, you're likely to hear something else entirely: crickets. Depending on the last time you saw a salary increase, keep the conversation going year-round with these strategies to negotiate your pay.

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If you've never received an increase. In this case, your employer may say that they had a poor financial year, implying that you should just be happy to be employed. Yes, you may understand where they're coming from, but that doesn't make it acceptable. More importantly, that mindset and culture certainly doesn't mean you have to stay. You won't want to look back on the past five years of flat pay and wonder why you're suffering financially.

In this case, speak to your boss and explain that although you understand the company's position, you're working extremely hard and not seeing compensation tied to performance. Ask for a mid-year bump or to get paid commission (if that is a possibility for your job). That said, keep your expectations in check. It's critical to have the conversation, but the answer will very likely be "no." The silver lining? That answer opens the door for you to find another job that pays more. During the interview process, ask what the average salary increase has been the past three years. Gather as much information as you need to make your decision, but whatever you do, start looking for a new job today.

If it's been over a year since your last raise. This still stings. Again, you're working hard and management sends the message that money is tight. It's unsettling when you haven't been given a pay boost in over a year as you wonder what the increase will be next year -- if there is one at all. Will it be a typical raise plus a retroactive percentage to make up for last year? Not likely.

Again, talk to your boss, but be realistic. You need to communicate the fact that you're disappointed, while making the conversation solution-oriented. Talk about your performance and ask how raises will be determined moving forward. How can you increase your chances of being promoted? What skills do you need to get there?

[See: 15 Awesome Jobs That Pay More Than $90K.]

Again, you have to keep your expectations in check -- it's great that you're having the discussion, but your boss probably won't magically pull an additional 5 percent towards your pay out of thin air. At this point, you may want to start looking for a new job. See what's out there and determine your worth.

If you've received an increase within the past year. According to Monster's poll, 21 percent of respondents received a salary hike within the past 12 months. If you're one of those lucky few -- congratulations! This is good news, but let's drill down further: What was the percentage increase based on your salary? Is this tied to an annual increase, or was this a one-off performance-based incentive?

The point is this: Instead of just being content with a raise, you should take things one step further. Sit down with your boss to understand how your raise was determined. Find out how you can improve your performance in order for that number to be higher next year. Your boss's input and body language during the conversation will tell all.

If you get the sense that your 2 percent increase will be 2 percent again next year (and the year after that), and your boss informs you that nothing will significantly change, do the math: You can probably get a 10 to 20 percent boost by landing a job externally. Job-hopping is your ally here, so start searching for new opportunities. Yes, it's great you got an increase this year, but you should view it as the baseline to build upon.

If you received a raise this past quarter. For the 13 percent of Monster poll respondents this applies to, you are among the fortunate! Money is often tied to a sense of self-worth, so in addition to a raise, you're probably feeling acknowledged by your employer. But even if you're feeling valued, you still shouldn't get complacent.

[See: 7 Companies With Perks That Will Totally Make You Jealous.]

Some things to consider: When will the next increase take place? Will it be quarterly or a year from now? And if you're new to your job, was the increase due to the fact that you started close to the new fiscal year, so the raise was pro-rated based on your start date?

It's great that you got an increase within the past 90 days, but always keep your eye on the prize and evaluate your worth by thinking about the next step -- for both your career and your bank account.

Vicki Salemi is a career expert for Monster, a global leader in connecting people to jobs. She utilizes her more than 15 years of experience in corporate recruiting and human resources to empower job seekers with insights and firsthand knowledge from the halls of HR. A public speaker and consultant, Vicki is the author of "Big Career in the Big City," and former creator/host/producer of MediabistroTV's "Score That Job."



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