Any Advice for asking for a pay raise

[rgf207]

About 6 months ago I took a promotion within my company to a management position. I am now supervising 4 full time employees and 2 interns. When I took the promotion I did not receive a raise which I was not too fond of.

Recently I have been feeling greatly underpaid and I have done some research on what my position is making in my area. I was right, I am underpaid by about 25K from the information I gather.

I feel that I deserve a compensation increase for a few reasons:
1. I have taken on much more responsibility and now supervise 6 people.
2. I have been spending a lot of time after-hours conducting interviews for new candidates. The fact that the starting salaries for these new candidates are more than I make is extremely discouraging
3. I have a set of goals I needed to complete by the end of the quarter. I have completed all of my goals.

I really enjoy my job but I also feel I deserve a raise. Has anyone ever asked for an out of cycle raise? Can you give me some tips?

Thanks

 

[dzneelvr]

This is tricky territory, especially with the current economy. first of all, I'd ask you to think about:
1. what were the reasons you took a full promotion with an increase in responsibilities for $0? think back, what was said about performance linking to salary.
2. what business/industry are you in? do pay for promotions regularly occur? do out of cycle increases occur at all? is pay tied to something else like overall production, quality or company results, rather than individual performance?
Once you've objectively answered, consider
How are you going frame the discussion? I would suggest NOT bringing in the supposed $25K figure (that's totally unrealistic), rather state your individual accomplishments and link those into the company results. Be positive, polite, and respectful. Make it your goal to have your boss, after you leave the room, say "wow, respectful and successful". Go ahead and write an outline of your discussion. It's ok to refer to a piece of paper during the meeting. It will be another plus on your side for planning and scripting. Stay focused and Please Please leave the office with a thank you...building for the future.
Go Get Em