Everyone wants to earn more money for their hard work. It’s a no brainer. But even if you’ve been killing it at your job it doesn’t mean your employer is automatically going to offer you a raise at your annual review. Being patient enough to wait till your one-year anniversary may seem like a lame strategy, but it’s generally a good idea to go with some established benchmarks before boldly asking your boss for more of the green stuff.
How can you earn more money? Ask for it? But experience shows us that how and when you ask for it is important to successfully negotiate more money in your job. Here’s what you need to know.
Own Your Income
The first thing to psych yourself up with before asking for a salary increase is that you are the primary driver of your income. It’s not your experience or employer holding you back; it may be your own fear of reaching your full potential.
Start the process of increasing your salary by asking for feedback throughout the year. If your company doesn’t have a 90-day review in place, ask for time with your boss to talk about how you’re doing. Asking for an assessment will show how serious you are about the position and your work in the company. Document the feedback you’re getting and then use it to help you meet your goals. Then, at the one-year mark, if there isn’t a formal review process in place, ask for one. That’s a meeting you’ll want to prepare for if you’re seeking more money. Here’s how to do it.
How to Handle Your Annual Review
Do some research before going into the meeting on what the average salaries are for your job position in the area. Give some thought to your budget and financial goals. Now measure these numbers against the regular feedback you’ve been getting. It’s a good idea to sit down and write out the feedback versus how you’ve shifted your work effort to improve based on what your boss has shared about your performance. Are you hitting on all cylinders, based upon the tasks and goals associated with the job?
Go into your annual review with a raise in mind. Have a list of reasons that justify the salary increase. These are all tools you can use during the review to ask for more cash. But here is the important point; chances are, you’re going to have to ask. Keep in mind that if you are in a corporate culture where annual reviews and raises are systematized, what you will receive will follow preset guidelines.
Handle these tricky financial discussions carefully and professionally, but go into them prepared to negotiate with concrete action items and documentation of your work. That way you’ll stand a better chance of getting the raise you feel like you deserve.
Elevate Your Earnings with a New Job from NueVista!
Sometimes even the best self-promotion and bargaining won’t increase your salary to your desired amount. In that case, the best way to land more money is to consider a new career. NueVista places candidates in positions when they’re seeking a better work culture, higher responsibilities, or more money. We can help you improve your life. All it takes is one phone call to start the process. Contact us today.