Get the Raise You Deserve: The Ultimate Compilation
I just had my first performance review.
I’ve been at my big-girl job for a year, and it was time to talk about what I’ve accomplished, my future goals, and OH YEAH, MONEY.
News flash: it’s terrifying. Absolutely wet-your-pencil-skirt terrifying. I researched and prepared and planned and lost sleep for a month because I was ready to get. that. raise.
And luckily for me (and now for you!) my internet community rallied behind me with some awesome resources. I’ve created your one-stop-shop for going in there and killing it.
And guess what? I got a SERIOUS raise.
“Months passed and I stopped pretending like it was an oversight. I decided that it was because the company couldn’t afford to compensate me for the work I was doing. 'If they had the budget to give me a raise, they would,' I actually said out loud, with my mouth, to friends who started checking me for signs of a head injury.” Read more.
“I got my first corporate job by applying through a big-name job site. Every job change and title upgrade since has been because of positive relationships with coworkers.” Read more.
“A new whiskey distillery opened near my office. And because we work for a publishing house and some stereotypes exist for a reason, my coworkers and I went for happy hour the day it opened. Which is how I found myself drunkenly badgering three of my female coworkers about their income (if this is shocking to you, you must be new here). At issue was the fact that none of them had ever asked for a raise. Ever. And as I listened to their lame excuses I felt the worst kind of déjà vu. All of their reasoning and fear sounded so familiar to my own personal experience.” Read more.
“Researchers found that employees who asked for more salary increased their starting salary on average by $5,000. Over a 40 year career, a starting salary of $55,000 means $643,000 more earnings than a starting salary of $50,000!” Read more.
“We hear a lot about how critical it is for women to ask for raises. But, asking is only the first step. Most businesses require managers to exert effort to fund even the most well-deserved employee compensation increases. I’ve been managing employees since 2006 (longer, if you ask my younger siblings!) Here’s the good, bad, and ugly I’ve experienced when my employees have asked for a raise.” Read more.
“Many of us assume that if we work hard and are effective, salary increases and career opportunities will follow. However, the reality is that doing well in your current position is necessary but not sufficient to grow your wealth.” Read more.
“I figured that since my supervisor is a reasonable woman who is good at what she does, leveling with her wouldn’t be too tall of an order. I had never asked for a raise before, and I didn’t know what to expect in the slightest. What I did know, however, is that I was killing myself for a company that paid me $15,000 below average.” Read more.
"I’m the first person to preach about knowing the market value for your work, but what happens when you’re in a position that you don’t want to leave, when you deserve higher pay? Most people make one of two mistakes: either they’ll wait for the management team to acknowledge their efforts and reward them with a raise, OR they’ll barge in unprepared and demand a raise, yielding less than stellar results." Read more.
“The moment you walk into your boss’s office to talk about your salary, you need to have ammo in your pocket that is going to sway them into being open to the idea of a raise. Even if you are a stellar employee, you need to offer something to them in return for forking out more money for you.” Read more.
“It's no wonder most raise conversations go like this — US: ‘It’s been awhile since I got more money, and I think I deserve to get a raise. Is that something you can do?’ BOSS: ‘There’s no room in the budget for that. Maybe next year.’ US: ‘Oh, okay. Thank you.’” Read more.
I get asked all the time: what are your favorite money management tools?
Charlie: My go-to (free!) budgeting tool that tracks your spending and progress towards goals.
Ebates: Gives you free cash back on almost all your favorite stores via a desktop plug-in.
Trim: You remember that time where I talked about how you should be negotiating all of your bills? (You should.) I know it's scary — that's where Trim comes in. Trim will negotiate cable and phone bills FOR YOU.
Status: Wanna see if you’re on track when it comes to your monthly spending and total savings? This (again, free) tool compares your financial numbers to others in your age group, city, etc.
Personal Capital: The tool I check daily, Personal Capital is the best tool for tracking your net worth and your progress towards goals like saving, debt payoff, and (yes!) $100K.
The $100K Club Facebook Group: Need some honest money conversations in your life? Join my free community to get your burning questions answered.