When it comes to raises, the age-old “not in the budget” excuse is still one of the most common excuses. But is it legit? Or are they just blowing smoke up your butt?
Here’s Five Fast Facts on the Budget Excuse:
- 💸 Can’t or Won’t? - Since most companies do have the money (it’s there, trust me) and often make exceptions despite the “budget”, just ask, “Why won't they make an exception for you?” Find out what’s holding them back and come up with a solution to get past that barrier.
- 💵 Never Just One - The payroll budget may not have enough funding but you still have options. If there’s a performance bonus pool, for example, you can try to negotiate for a larger cut. There are also relocation allowances, training and development, travel and expense budgets. They can take or move around money from those. You just have to negotiate.
- 📅 ”Not Now” - If you’re told the money “just isn’t in the budget now,” that means you can ask for more later. Make it a part of your negotiation.
- 🤷 Talk It Out - This constraint is usually put on your boss by the higher-ups. If you’re deserving of a solid raise, they know it. They want you to continue to do your best work and to feel valued. It’s in their best interest, because your performance makes them look good. Talk about potential solutions.
- 🛑 Don’t - One thing to bear in mind: ultimatums never work. Telling them you want a higher raise or you’ll leave doesn’t do you any favors. The answer usually is still no and then you have to make good on your threat or stay and damage your relationship with your boss, employer, and co-workers.
🔥Bottom line: Asking for or negotiating for a raise is a stressful situation. But if you go in prepared, your chances of getting what you deserve are higher than just accepting the budgetary excuse at face value.
Have you ever used these techniques?
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