HOUSTON BUSINESS REVIEW

THE CPA CORNER: SALARY SURVEYS, ACCOUNTING FOR MY SALARY, AND GETTING THAT RAISE
By C. Kevin Moore

Kevin Moore is the Principal with C. Kevin Moore & Associates and has two decades of experience as a Certified Public Accountant. Each week he provides the information you need to grow and protect your business.

After several years of working for a given company, many employees and CPAs find their duties have grown or changed but their salary has not kept pace. In other instances new hires at the company with the same responsibilities may be earning more for doing essentially the same job.

Employees have to educate themselves about what their job responsibilities are worth, and put a case together for their employer that shows they deserve more pay. Then they are ready to approach their boss and ask for a raise.

Firstly, take stock of where you stand. Compare your original job description with your current duties. The documentation the employer uses for its performance evaluations often lists mandatory duties. This may be all of the information an employee needs to prove he or she is accomplishing more and deserves a raise or a promotion with higher pay.

Next, decide what increased money you deserve and determine whether it is in line with your employer's overall pay strategy. It is important to approach your boss with solid salary research. A number of Internet resources are available to find out what other companies are paying.

Finally, make the case for your raise. However, all of your research will be useless if you approach your supervisor at the wrong time. Make sure he or she is in a good mood. The best time to ask for a raise is right after you have completed an important project or instituted a cost-cutting initiative.

Proper compensation makes better employees.