How to Ask for a Raise in Recession

Your boss would like you to think that there are a hundred people in the unemployment line who’d be thrilled at the prospect of having your job. But your boss is not letting you in on the bigger picture: The truth is, it is always more expensive to hire and train a new employee than to keep the one you have happy and productive—and that doesn’t change just because we’re in a recession. Understanding this one point already puts you at an advantage when it comes to salary negotiation, but there many other tactics that can give you an edge in asking for a raise during a recession as well.

Timing is everything. Now more than ever, timing is important when it comes to bringing up a raise with your boss. After all, doing so on a day when a dozen of your colleagues have been laid off probably isn’t the brightest idea. Instead, schedule a meeting soon after you finish an important assignment or immediately after the company has gotten some positive news…