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Negotiate a Pay Raise in a Shaky Economy

Negotiate a Pay Raise in a Shaky Economy

Dona DeZube, Monster Finance Careers Expert

What Have You Done for Me Lately?

For those seeking higher pay for doing the same job, come at the negotiation with the mind-set of a buyer rather than a seller, says Michael Zwell, PhD, author of Six- Figure Salary Negotiation: Industry Insiders Get You the Money You Deserve.

“In a recession, valued employees are even more valued,” he says. “There are lots of opportunities for folks that are good. Don’t be threatening or arrogant, but recognize that you have a lot of value and you deserve to be compensated for your contributions.”

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If your company is laying off and you escape the axe, take advantage of the opportunity to demonstrate your commitment to your company. Look for holes and gaps left by departing workers, even if they don’t occur in your area.

One of Zwell’s clients, who works at a firm that laid off 10 percent of its workforce in mid-2008, did just that. “Within a few days of the layoff, he went to his boss and said, ‘I think we should have a meeting and go over all the responsibilities of the people who were laid off and decide how we’re going to cover those,’” Zwell explains. A suggestion like that shows you’re a valuable employee and significant contributor who’s ready to pitch in and get the remaining work done — exactly the kind of person who deserves a raise.

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