While you don’t want to be the person that survived mass layoffs only to turn around and ask for a salary bump for reasons you can probably guess, you also don’t want to be severely underpaid or underappreciated.
Asking for a raise in any situation can be intimidating, but add in a shaky economy and a lot of unknowns, and it becomes downright scary. But don’t be put off just yet. There isn’t a black and white answer to this question, it’s simply a matter of your specific situation.
While you don’t want to be the person that survived mass layoffs only to turn around and ask for a salary bump for reasons you can probably guess, you also don’t want to be severely underpaid or underappreciated.
Here are two situations that come to mind where it may make sense to ask for a raise during uncertain economic times.
Situation 1: You’re Paid Far Below Market
If you accepted the job and then realized how far below average you’re being paid, whether it’s the market or your team, you probably want to ask for a raise regardless of the economy. However, to avoid being in this predicament again, always do your research in what a fair salary is for the job you’re interviewing for. Knowledge is power.
Situation 2: You’re Asked to Take on A LOT More Work
If you survived a round (or two) of layoffs at work and are then asked to take on all of the tasks that your team members were working on, it can seem very unfair despite the fact that you still have a job. Depending on the amount of work and number of people laid off, there could be a case where asking for a salary increase makes sense.
So, if you fall into one of these categories and do decide to request a raise, keep in mind that you’re embarking on an uphill battle, one even harder than it would be in “normal” circumstances. And be prepared to hear “no” and not have much recourse since the job market is precarious at best.
Going into the conversation, have your talking points and facts prepared. This could be the average salary for your position, what you’re currently making and evidence of the impact you’ve had on your team and the company as a whole. Or it could be the work you’ve taken on and accomplished, including the extra hours you’ve had to put in and the successes you’ve had.
Be matter-of-fact and don’t catch your manager by surprise. Schedule the meeting by saying you want to discuss your performance and then leave any emotions at your desk. If a company has laid people off, there is likely a sense of stress already, so being calm, collected and acknowledging the situation will go a long way. And remember, the outcome isn’t a direct reflection of you. It’s also a reflection of the times.
So, while it’s important to know your worth, but it’s equally important to read the situation and decide what is your best course of action. See, I told you it wasn’t a yes or no answer.
