How To Get The Hike You Deserve!

Asking for a raise can be an awkward, slippery slope. Suchita Parikh-Mundul has some guidelines to help you get the hike you deserve

- Suchita Parikh-Mundul

Assessing your worth as an employee is tricky business—how do you get down to brass tacks and monetise your effort, talent and value? For those in creative industries like the performing arts and design, it seems almost impossible. Still, we manage to crunch the numbers, creating mathematical formulae involving the projects undertaken, success of assignments, time dedicated, and other criteria. And we arrive at an aggregate. Now there’s just the little matter of convincing someone to give you that raise. We talked to people with valuable lessons in this area. They’ve been on both sides of these tough negotiations and have great advice on how you can get what you want.

TIME IT RIGHT

Before you ask for a pay hike, take into consideration the overall economic scenario, the status of the industry you’re part of, and your company’s position within it. Anand Harlalka, a senior finance professional at Protiviti Consulting, Mumbai, explains, “If your company is in dire straits and has been letting employees go, you may have been asked to take on more responsibilities to cover for the lack of manpower—but asking for a raise in lieu of this when your company is struggling to keep a float is a bad move.”

He continues, “Above all, it shows a lack of loyalty to the company.”