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This Week: Let’s chat about how to make more cash at your job. You’re working hard and you deserve more $$$
Know someone who’d get a kick out this newsletter?
Let me be straight up honest with you. Your girl, Jen (odd) Glantz, has NEVER in her life asked for a raise.
I have done hard things in the corporate world: like quit my job and attending the company holiday party sober. But during my “annual reviews”, I didn’t utter any words about a raise. I listened to the % they offered and nodded my head. One year, my boss said I wasn’t getting a raise but was getting more work. I should have revolted! I should have quit. I sat there jotting down notes and spent the next 3-months working two jobs for the price of one.
That’s why today I want to talk about asking for more money at your job. Because my advice would be lame, I brought in expert advice to help you out.
Ready for it? Let’s do this, you money-maker, you oddddd money-maker.
HOW TO ASK FOR MORE MONEY:
Practice your pitch and anticipate questions:
Many people find this unusual and unnatural, but interactions in which you're asking for something nearly always go better if you've prepared ahead of time and considered the many possible responses to each of your requests, as well as how you'll respond to them. After you've practiced being a reluctant boss, having a real talk with her will be much easier ,and you'll have more confidence because you'll be able to anticipate their replies and know how to respond.
When it comes to raises and promotions, an employer will be hard pressed to
pay more than they have to. However, if you can put together market data
that shows where you are vs. where the market is, and the discrepancy
between the two, you stand a good chance of success.
Similar to the previous point, an individual's compensation is also
determined by the skills they bring to the table and the value of those
skills to the company. If you can skill up in the areas that help your boss
or your company, you'll have an easier time selling why you deserve that
Try to look for another job and get an idea of how much other companies
are willing to pay you. Let your manager know that you are considering
other job opportunities and that there are companies willing to pay you
more, if that’s the case. This might make them reconsider your pay and they
might give you a raise without you explicitly asking for it. However, be
aware that this might backfire and that you might really be let go. This is
the reason why you should not fake this. Before going to your manager about
another opportunity, make sure that the other company can really hire you
if things do not go your way, or else you might end up jobless. Also, make
sure not to go about this arrogantly, or your boss might not be able to
look at you the same way before you do this. You might get to stay but you
might have sabotaged every effort you’ve exerted up until this point.
Pay attention to timing - it’s everything
Asking for a raise during the slow time of year or when profits are off is never a good idea. Often, the timing of your ask has a lot to do with your chances for success. Wait until company growth is on the upswing, they've just made a bunch of hires that need training (that you'll help with), or any other timely event that works towards you getting the answer you want.
Consider options other than cash
While asking for a raise, don't restrict yourself to merely asking for more
money. When asking for a raise, several non-cash incentives may even work
in your favour rather than against you. *You may be able to bargain for
extra vacation days or integrate more dependents in your health insurance
if your firm does not have the funds to enhance your wage due to a
budgetary constraint. *The majority of large corporations get reductions
for these charges, allowing them to be quite flexible in this area of
Talk about the future
Think about what you'll hope to accomplish next year.* You're requesting
this increase because you've shown that you'll go over and beyond your
present position, but your manager also needs to hear that you're committed
to the long term. If you do obtain this increase, how do you expect to
continue to advance within the company?
LET’S GET RANDOM:
Random Odd Jobs
Random Odd Gadgets for Your Job
Random Odd Articles for you to Read
Until next week,
Jen Glantz is a whimsical entrepreneur, 3x author, podcast host, and all-around pizza-obsessed goofball.