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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

When No Means No

In some cases, the economy really will prevent your boss from giving you a raise. “If you absolutely meet a brick wall, ask the boss if he or she will consider a second meeting six months down the road or an accelerated annual review,” Wegerbauer says.

If you can’t get a raise, take the long-term view and think about how your company can help you take the next step on your career path. Can your employer pay for additional education, training or career-development courses that will raise your value despite the economy?

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Have a Plan B ready — something you can ask for while the boss is feeling bad about not giving you the raise you deserve. Can you have a one-time bonus that won’t influence future salary? Can you work from home a few days a week? Can you take on a new leadership role?

If you keep abreast of your company’s financials, you’ll know whether profits exist to fund your raise. After all, this may be a recession, but it’s not a depression. “A lot of companies are doing well,” Zwell says. “There are a few industries that are really hurting, but most aren’t hurting. Good people will always be in demand.”

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