How to get a raise at your current job

In our quest for creating wealth, our focus should be primarily on investing in vehicles which will provide us a decent return on our money. But the money we will use for our investments come primarily from the income we receive from our place of employment. Therefore receiving a pay increase should be a goal of yours. No, I am not talking about the standard 3% increase given to you because it seems like the right thing to do. I am talking about substantial increases above and beyond the normal annual pay raises most employers normally give.

Exceed expectations
Every position comes with a set of expectations of what is required for you to do your job, do your job well, or do more than is expected for someone in your position. Your goal is gain more responsibility than your current position requires. The key is to do your work faster and better than anyone else at your place of employment. You may think that you have too much work as it is, but the truth is that our work days are normally filled with interruptions, unimportant conversations and other time wasters. Think about how much work you can complete if you analyzed your work day and redesigned it to make it as effective as possible. The more effective you become, the more time you free up to ask for more responsibility. Once you have it, work diligently to exceed those expectations as you did with your normal work assignments.

Work to impact the bottom line
As you methodically plan the most efficient ways to complete your job, you should also ask yourself what you can do to directly impact the bottom line. Impacting the bottom line means both making and saving money. The answer will not come easy at first but the more you simmer with that notion, the more you will begin to see the answer(s) revealed to you. Ask questions about the processes and systems currently in place in the organization and make informed suggestions. Make sure you have done some research and have any numbers necessary to support your ideas. Even if your suggestion is not implemented, you will begin to create the reputation as the person who has input on how to manage the organization's processes. If you are in a position where your job impacts the bottom line, like sales, you are in a very fortunate position to change your personal income. Fine tune your skill, find the highest producer in your company and ask them about their techniques over lunch. Read sales books and attend seminars. Do whatever you can to increase your skill level.

Ask for a raise
Sometimes, your employer may not be willing to simply give you a 15, 20, or 50% raise on their own. Sometimes your boss may require a little nudging. Before you ask, take inventory of everything you have accomplished over the past year. Speak in terms of how your actions have impacted the business directly. Your boss may not care how well you did completing your tasks unless your actions had a more organization wide impact. Clearly demonstrate how invaluable you are to the organization by detailing your progress, and your personal goals for the upcoming year. Do some research online for other companies who can use your talent for a higher salary. Tell your supervisor that you do not wish to leave the organization but if your talent will be better received by a competitor, then you have no other choice. You will be surprised how much of an increase you receive if you simply ask for one.

Get a promotion
If there is a limit to how much you can make in your current position, it may be time to look up the ladder for other opportunities. Generally a promotion means an instant salary increase without having to wait for annual review time. Set your sights on what position you would like to interview for and prepare now. As in internal candidate your past performance will be critical when management makes their decision. This is why you must perform in your current role as if you are completely over qualified for what you do today. Focus on the position you want and ask for special tasks or projects that will prepare you for the role. Do not be afraid to let management know of your interest in the position and their recommendations of any areas of opportunities you should develop before you officially apply.

These are just a few of the actions you can start to implement at you workplace to get you a larger paycheck. Once you receive your much deserved raise, you have to be careful not to "blow" it by creating a higher standard of living for your self. Clear any outstanding debts with your extra income, then begin to create wealth with it.

Powered by ManhattanService