Hello Kinnaresh,
First, let me congratulate and encourage you in the pursuit of higher ed. It is my hope that you continue to be a life long learner and apply the skills you've learned to better the industry.
To answer your question, my advice is NOT to view the additional credential as a compelling reason to ask for a raise. Instead view it as potential for increased responsibilities and positions. These increased responsibilities will get you the raise. I have no doubt your employer already knew you were smart and ambitious and it will likely come as no surprise that you will earn this MBA and other credentials as you grow in your career.
But, try to look at it from the Executives perspective, if I am to run and grow a healthy organization then I need to control and predict fixed operational expenses (much of that will be payroll) while increasing net assets for the company. Each year, when I set the operational budget, I would like it to be as predictable as I can for this year, next and potentially as far as 5 years out - that means the employer already has in mind your pay raise progression. When you talk to your employer about raises, try not to surprise her/him. The person will need time to plan out those resources. Try approaching the employer with the mindset that you've learned new skills that you believe to benefit the organization and are eager to prove your value. Set some measurable objectives and perhaps offer a challenge that if you hit these goals, then some reward would follow. It's OK to talk about raises and bonuses but approach it with a win/win mentality. Avoid approaching it as "I did this thing you didn't ask me to do so now I deserve more money". Hopefully, You can see how one approach would be more appealing over the other.
Lastly, I'll add that I'm a big fan of bonus sharing based on overall company objectives as opposed to salary raises. A bit tongue in cheek with the next statement so don't take it too seriously.... but In a CEO's perfect world there would be no salary raises just a predictable amount of fixed overhead and all would share in excess revenues as goals are met based on contributions to the effort.
Sorry, my friend, I know it's not what you wanted to hear. But don't get discouraged the fact that you even wanted to pursue a graduate degree sets the foundation for success. It will come!
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Jesse Kamm PhD, PMP, A.M.ASCE
Senior Vice President of Construction Management
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Original Message:
Sent: 07-21-2019 18:39
From: Kinnaresh Patel
Subject: Asking for a raise with an added degree
Greetings,
I work for an Infrastructure General Contractor as a Field Engineer. I enrolled in an executive MBA course (hybrid), and I am on my way to earning the degree early next year. I want to know your perspective on whether having an additional management degree is reason enough to ask for a higher compensation package. How would you as a manager look at the scenario if one of your employees seeks a raise after having secured an MBA degree. How common is this and how much does it count in the construction industry?
Any bonus tips on how to initiate the conversation from is always welcome. Thank you for your time reading this!
Regards,
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Kinnaresh Patel A.M.ASCE
Field Engineer
Orlando FL
(512)954-4588
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