Will a New Degree at Your Old Job Get You a Raise?

Most people know and understand that the combination of education and work experience will likely help you earn a better salary. In fact, that is exactly the reason why many adults go back to school after they have been in the workforce.
But, does earning your degree while working guarantee you a raise? No, it does not. However, with the right timing and strategy you just might get a raise when you ask for it.
“Ideally, you should ask about the raise before you get the degree to set the expectations,” said Abby Kohut, award winning, human resource professional, contract recruiter and author.
One approach is to be straight-forward and ask whether earning a degree, will you in turn equate to a raise in pay. However, it’s advisable to take a more strategic approach.
“The best time to hold the conversation is during the normal performance review cycle,” Kohut said. “Begin the conversation by discussing your work performance and accomplishments on the job. Then, explain how the degree has given you additional information that will help you produce even more.”
If you have already earned your degree, share the good news at work.
“Alert your boss that you have recently gotten your degree and invite him or her to the graduation,” Kohut said. “And if you get ‘no’ for an answer when you ask for a raise, don’t be grumpy, disappointed or have a bad attitude on the job. Ask when he or she might be willing to consider it and tell them you will work hard to get it.”
You can ask for a raise at any time, but you will always have to justify why you are asking for it. So, take a deliberate approach where you make the connection between your past accomplishments at work, your recent educational attainment and your future contributions to the company’s goals. Kohut’s final tip:
“Never assume you will get an increase in pay. Get your degree because you want one and to help with your future employment not the current job."