Since employers are not required to provide raises, an alarming number of people just go through their working lives day in and day out for the same pay rate.
It’s very gratifying to be so valued by your employer that they’ll increase your pay without being prompted. But, for most of us, the old saying applies: sometimes you have to ask in order to receive.
But, what if the idea makes you want to crawl under a rock? I mean, your boss is just going to laugh at you, right?
Today in our “New Year, New You” 30-Day Challenge, let’s go over some tips on maximizing your odds of success when you ask for a raise at your job!
The worst they can say is no, and at the very least, you will have a foot in the door, and they will know you’ve got money on your mind.
- Don’t ask for more than you think your job is worth. A top mistake people make when asking for a raise is putting some way out there number on the table, leading to them getting laughed at and not taken seriously.
- Take inventory of all that you do at your job. Make a note of what you do that goes over and above your main job expectations. Practice recounting times you’ve added value to your position, like taking on extra hours during a busy season or times when you’ve been entrusted with leadership. If possible, quantify your value by backing up your claim with statistics and figures (“The week I was covering for Suzie, productivity jumped up by 25%”).
- Watch your timing. This means waiting until you’ve had at least a year on the job and choosing the right time to make your case to your boss. If you start this conversation when they’re having an off day, or when the company’s going through a lean period, it may spell disaster for your efforts.
- When you’ve chosen your time and are ready to act, lay it out clearly and concisely. Don’t beat around the bush and do your best to sound confident in your request, even if you’re in knots on the inside. Show that you’ve given a lot to the company, that you respect what it’s about, and that you’re in it for the long haul.
Getting yourself a raise is just one way to increase your income and overall financial health. There are so many other ways you can do the exact same thing and find money for your retirement that you didn’t even know you had!
Why not give my office a call at 513-563-PLAN (7526) to go over the many ways you can increase your personal wealth? I also have an online booking option (just click here to get started)!
