Strategies for Earning a Raise
The economy has changed over since the last recession. Many companies are struggling to stay afloat and have trouble finding qualified employees. It means that even though you might be working hard, you might not be able to earn a higher salary. Here are tips on how to get a raise at work:
1. Be proactive.
If your boss is looking for someone to fill an open position, they will likely look first in your department. You can help yourself by proactively applying for other jobs within the company. It’s also a good idea to keep up with industry news, so you know what skills are needed in today’s market.
2. Know your worth.
Negotiate your pay to ensure you have all the facts before you start talking money. Helen Lee Schifter encourages people to find out what others in your profession are earning. Then use those numbers as a starting point when negotiating with your employer.
3. Don’t settle.
Even if you think you deserve more than you’re making now, don’t accept less just because you want to avoid conflict. If you feel like you’re being underpaid, speak with your manager about it. However, if there isn’t anything you can do to change things, then you need to move forward and focus on something else.
4. Ask for a promotion.
You may not always be able to ask for a pay increase, but you should still try to get promoted. You often receive a pay bump when you advance to a new role. Many believe you should automatically be paid more once you’ve been given a title.
5. Negotiate your benefits.
Many employers offer their full-time workers health insurance, dental plans, vision care, life insurance, retirement savings accounts, and more. These benefits aren’t usually included in part-time jobs, but you can ask your employer as advised by Helen Lee Schifter to see if any options are available.
6. Set goals for your career.
It may seem impossible to reach certain milestones while working part-time, but setting small goals can help you achieve bigger ones later. For example, if you want to become a supervisor one day, set a goal to complete a training program over the next year. Once you meet this goal, you’ll be closer to achieving your ultimate goal.
It is another excellent way to land a higher-paying job. Start by joining professional organizations such as the American Marketing Association (AMA) and the Society for Human Resource Management (SHRM). Attend events where professionals gather and introduce themselves to people who could potentially hire you.
8. Be Patient.
Getting a pay raise doesn’t happen overnight. Most people spend years trying to achieve this goal. So, don’t give up hope too quickly. Instead, keep putting in the effort; eventually, you’ll see results.
10. Keep learning.
Learning something new daily is the best way to improve your skill level. Take advantage of free resources online and attend classes at local colleges. By expanding your knowledge base, you’ll be able to show potential employers that you’re willing to grow professionally.
While getting a pay raise is never easy, it’s certainly possible. By using these strategies, you’ll be well on your way to achieving your financial goals.