Sarang Ahuja, Senior Analyst for Exelon on Getting a Raise

Getting a raise can easily be the highlight of your working year but asking for that raise can be difficult. Getting a raise is more than just asking for your manager, it’s putting in the work and going in with insight for what you are asking for.

Do Your Research
Long before sitting down with a superior, employees should heavily research their specific job title to see what other companies are paying for similar roles. It is important to take note of the location the jobs are, the years of experience that the employee has and a variety of other factors to see if you are being underpaid.

Come Into The Meeting Armed With Facts
Simply asking for a raise because an employee has been "working hard" isn't usually going to cut it. Come in armed with charts and figures that will show the boss why you are such an asset to the company. Talk about the huge deal you landed or the incredible relationship that was developed and turned into a big sale for the company. The more concrete facts you have, the more likely a raise.

Be Willing To Walk Away
Unfortunately, there are companies out there that will do almost anything not to give out raises to the employees unless they absolutely have to. For this reason, it is important to have a backup plan if you have asked multiple times and been denied in the past. This way, if you are denied a raise you deserve, you can politely resign from the role and take a position at a company where you are more appreciated. In some instances, this leads to the original company offering a larger raise than you were initially seeking.

Be Open To Other Perks
While a raise in salary is ideal, there are other perks that businesses can offer that are just as valuable. For example, a business may not be in a position to offer a raise at this time but they may be able to offer other perks such as increased vacation days and the ability to work from home. This shows good faith on the companies part that they have other means of showing employee appreciation.

About Sarang Ahuja: Sarang Ahuja holds a position based out of Baltimore, Maryland at Constellation as Principal Analyst in Wholesale Operations. Sarang has finance experience and has worked at a variety of companies for over a decade. From a young age, Sarang found a strong passion in finance. Interning at both Smith Barney and UBS/Paine Webber as a summer associate inspired Sarang and he decided to attend Florida State University, where he obtained his Bachelor of Science Degree in Finance then continued at University of Florida and the Warrington College of Business Administration for his Master of Science in Finance Degree.