How to Get a Raise at Your Present Job

If asked, “why do you work?” – what would your answer be?

It feels like a simple question to answer, right?

Yet people often take that question as a taboo. Often when we get called for an interview, we get excited – excited to show people how eager we are to work in that industry and interact with others who share the same passion. However, when asked such a question of why people work, they’ll often dance around the answer, or usually provide a vague one.

People act as though working 8 hours a day is the reward, but we’d be lying to ourselves if we say that. Except for the few whose job revolves around their passion and perhaps, they love every second of it; then you can say that. However, for various people, they work because they need the money.

Now that you’ve managed to get that job, it doesn’t hurt to ask for an increase, right? However, we’d suggest you wait for a while before asking for a raise and also to know your worth to that company. Many tools are available online that could help you calculate your worth by taking into account your skills, experience, education, location, etc.

Storming the boss’s or administration office isn’t always the most significant thing to do. There are other methods that you can do to get a raise. Here’s how:

Be Vigilant For Openings

Have you ever thought about working towards getting a promotion? One harsh truth in the corporate world is employee turnover. Companies are spending time and resources to fill those gaps left behind by the ex-employees. A company can spend figures of six times that of an employee’s salary for their replacement.

An open position can present an excellent opportunity for you to earn more. Familiarize yourself with the skills and responsibilities associated with the job you want, and when an opening pops up, inform your boss that you are willing to step up and that you already have the necessary skills to do so. Your company will save resources – and you’ll have yourself an increase because of the additional responsibilities.

Get to Know The Bonus System

Most companies offer and provide bonuses – but surprisingly, many employees have no idea how bonuses work. Beyond a simple view of the better you and what the company assesses, you may get some reward. If you don’t have any idea on how bonuses are determined, talk to your boss or manager to get a clear picture.

The more knowledgeable you are about the system, the more you can work towards hitting every checkmark. It would help if you also got your achievements recognized, so don’t be afraid of letting your boss know during reviews. When the management sees that you’ve been an excellent employee, and then it’ll only be about time that you receive compensation for your hard work, and who knows, you might get a salary increase.

Improve Your Skill Set

Other times, the reason why your company isn’t giving you a raise is often not because they don’t want to, but it’s because you don’t deserve it yet. For that reason, further education or more training is needed. However, that’s not all. The most challenging part of it is determining what education and skills are necessary for you to improve and make a difference.

Although, that shouldn’t be the case in a healthy work environment. All you have to do is ask your boss, supervisor, manager, etc. on what you need to improve to get a raise.

Sit down with your boss and have a formal conversation. Find out what skill sets they are looking for in employees that would set you apart from others, as well as prospective hires. It shouldn’t be job requirement skills; instead, skills that go way beyond that. If you’re aiming for a promotion that often comes with a salary increase, you should look at the job descriptions of positions you’re seeking to acquire.

You could take management courses, learn new skills, or a second language if you work with an international company. Figure out what skills increase your value and learn or improve it.

Take The Initiative

Companies love an employee that takes the initiative. Do what is expected of you and more! Get involved in projects that are beyond your responsibilities in the company. Provide innovative solutions and suggestions that would further improve company operations. Assuming duties without being told is what companies are looking for in their ideal employee. They are looking for people who have the drive to help the company succeed with whatever means necessary.

Taking on new responsibilities isn’t just for the benefit of the company. Taking new tasks also helps you develop as a person and as an employee by learning new skills, which significantly boosts your chances of getting that sweet promotion.

Nonetheless, getting a raise might be very important; however, you must understand that to get that raise, you will have to work for it. If you put any of these tips into action, we believe that you’d get an increase in no time. So, good luck!