During the recent economic downturn, many Americans vastly lowered their expectations about earnings. One survey of career-fair attendees, conducted by Next Steps Career Solutions, found that 65 percent of respondents were willing to accept compensation that was up to 30 percent lower than their pay at their previous job. In addition to salary cuts, workers have also reduced their hours or accepted lower-paying jobs than they've previously held.
But now that the economy is beginning to rebound, Laura Browne, a corporate trainer and the author of "Raise Rules for Women: How to Make More Money at Work," says there are new opportunities to bump up pay. "Companies are giving money back to people, but they're being selective about who gets it," she says. Here's how to get on that list:
1. Forget the past
Whether you've suffered a pay cut or a raise freeze, understand that complaining about the hardships you've endured will get you nowhere. Instead, show your managers what you are doing now--and what you'll continue to do in the future. "They want to know, 'Did you make money for the company?' And even more important, what you are doing right now that will continue to make money for the company over the next six months to a year," says Browne.
2. Start the conversation now
Even if the company is still struggling, Brown says it's important to start talking before the good times start rolling in. "By the time you hear that your company is making money, it's going to be too late," she says. Approach your boss at a time you're feeling upbeat--that is, not the day you got a big credit card bill, for instance. Explain that you know times are tough for everyone (not just you) and thank your boss for sticking by you and recognizing your hard work. Once the positive tone set, let him or her know that when things start to pick up again, it's important to you that you are recognized for what you've done--and for what you'll continue to do.
3. Arm your boss with data
Your boss may need to convince upper management that you should get a pay bump. So provide him or her with a results summary--not simply what you did, but the results you got--that can be taken to decision-makers. "You have to help your boss help you," says Browne.
4. Work crazy hours
If you've had to reduce your hours, let your manager know that you can work whenever he or she needs you--Saturdays, holidays, or late at night if you can. "If company revenue and income are on the rise, then they'll need more hours to meet increased demand," says Jeff Cohen, the author of "The Complete Idiot's Guide to Recession-Proof Careers."
5. Make new friends
If you can't get enough hours in your department, get to know the people in other departments and see if there are opportunities to pick up extra hours there. "Tell everyone you know that you're looking for more hours--in a pleasantly persistent way," says Browne.
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