You hear the news stories all of the time. Today’s workers are earning less than the previous generation. It seems as though companies have wired us to be grateful for a 3% raise when in reality we should be getting more. Think about it, if inflation averages 3% and you only get a 3% raise, you are never really getting ahead. You are just treading water. If you want to get ahead, you need to get the raise you deserve.
But how do you do this? In this post, I will walk you through the steps you need to take in order to get the raise you deserve.
5 Tips To Get The Raise You Deserve
#1. Understand What Is Expected
Depending on how long you have been at your job, you might not have a clear idea of what is expected of you. Or maybe your manager’s expectations for you have changed. You need to sit down and understand what is expected of you. How will your performance be measured? How will that relate to salary increases?
If you want to get a larger raise, you need to know this information. Otherwise you are wasting your time. For example, if you think a certain task is expected of you and you do it but your manager is expecting something else of you, you will be surprised when you don’t receive a raise.
#2. Have Annual Meetings
While having the meeting above is important to lay the ground work for what is expected of you, you can’t just have that meeting and no others. You need to have meetings every year going forward. This is because the needs of your company changes all of the time. As a result, your manager’s expectations of you may change as well.
The only way you know this is to sit down and talk. It can be a formal meeting or you can schedule a lunch meeting with your boss to talk things over. The key is open communication so you can ensure you both are on the same page.
#3. Ask For Alternatives
You know your expectations and you meet or exceed them. But even so, you aren’t getting raises that you should be getting. What are your options? You have a few. Your best option is to start out with an understanding and move on from there.
Find out why you didn’t get a raise. Maybe the budget was tight this year. Maybe a project cost the company more money than they anticipated. If money is an issue, maybe you can ask for something else. Maybe see if you could negotiate for an extra vacation day or two. Maybe you could work from home one day a week.
While these options won’t put more money into your pocket, they can improve your work life balance and make you happier as a result.
#4. Look Elsewhere Internally
Now, if none of the above are valid options for you, you can start to look internally for another position. Maybe the money issue is just in your department. If this is the case, you can find a different job somewhere else in the company that maybe pays more and offers you the chance for a raise.
#5. Look Elsewhere Externally
If you find that the money issue is a company-wide issue, your best option is to look outside the company. But before you do this, make sure you polish your resume and are working hard. This will help you to find a great job elsewhere.
If you do find a better job outside your current company, be ready for them to try to keep you when you give notice. It is up to you how you will handle this. Many times, they will offer you more money to stay. The catch is you might find yourself in the same position a few years from now again. After all, if they aren’t offering you raises now, what will make them in the coming years?
You might be better off leaving and going somewhere else.
You can get a larger raise than the standard 3%. You just have to be smart about it. Know what is expected of you and exceed those expectations. You won’t get a larger raise just by showing up on time and punching out when your shift ends. If you are willing to do the work, you can get the raise you deserve. Just know that it might be with another company.