The Strategist

Five tips to get a pay raise

08/09/2019 - 10:41

It is unlikely that there will be a person who would refuse a raise in salary. Often, however, we let chips fall where they may: wait until the boss offers the raise and feel underestimated if they don’t. If you are sure that you deserve more, you have to take matters into your own hands. Try one (or all) of the following techniques.

Evan Jackson
Evan Jackson
Convince the bosses

To wait until the boss himself proposes to increase the salary doesn’t make any sense. If you need a salary raise, you have to declare your needs politely, clearly and reasonably.

Get ready for the conversation in advance. Compose a concise but convincing speech using the "said - proved" formula. State your thesis - and immediately bring evidence: examples, stories, figures and facts. Not emotions, but numbers and facts, examples and stories.

For example: "I have brought big profits to the company over the past quarter: I made deals with three new customers, received huge orders from two old ones and brought back five companies that left us to competitors."

Focus not on your personality, but on what is important to the company. The managers are unlikely to be touched by the fact that you stay up late and skip off your vacation, but they will surely be impressed by numbers and graphs. And do not forget to tell why you will work even better with the increase.

Use TED talks as a source of inspiration. Note: each speaker has one clear idea, which is formulated at the beginning of the speech, and then develops the topic for 12-18 minutes. The speaker gives interesting stories, figures and facts, and you can try this trick, too.

If the reply is negative, do not rush to accuse the boss of ingratitude and slam the door. Ask what you can do to make your salary grow. Find out what he expects from you. Take advanced training, make more deals or take on more complex tasks? Discuss the growth program - and return to the conversation, following its points after a couple of months.

Increase your productivity

You can achieve more if you manage your work time more efficiently. The main idea here is not to work more, but to work more consciously: clearly prioritize and stop wasting time on nonsense.

Put yourself in the shoes of the company owner

If you were to work in your current position and at the same time be a leader, how would you manage your time? If no one commanded you, you would surely find ways to act faster and more prudently. What prevents you from doing so now? What habits should you give up? 

Give up activities on which you spend too much time, but which bring little to no results. Think about it: perhaps you are issuing reports that no one reads, you are not efficient enough in preparing documents, or, say, you are introducing time tracking systems that no one uses. Instead, do things that directly affect your income: sales, calls, production of goods, provision of services.

Take the lead

Many managers sincerely appreciate resourcefulness and active approach, because most employees show a minimum of initiative. Think about what you can do for the company beyond your direct responsibilities. Perhaps you love making presentations, but the company outsources this task. Offer your services for a salary increase. You can manage the company’s accounts in social networks, answer calls, hold meditation sessions for colleagues, send customers news about your services – basically anything for which the company pays.

Tell the leader about this idea and ask to evaluate it in banknotes. If you are able to justify its benefits, you will certainly be supported.

Keep learning

When we plunge headlong into work, at some point we lose the ability to look around. And this is unacceptable for a professional. Keep track of what is happening in your area: what are the trends, companies, projects. Participate in conferences and webinars, do something outside the official working context: for example, start a blog, help someone solve a problem, conduct a seminar, or write an article.

You are increasing your value to the employer by increasing your expert status. Your reputation begins to work for the company - no manager would want to lose such an employee. And if this does not bear fruit in the form of a salary increase - well, perhaps you can find a more interesting project where you will be appreciated more.

Based on "Choose Yourself!" by James Altucher


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