My Story #2: How I Managed to Get a Raise

Hello to all fellow Steemians. Today I would like to share with the rest of community of couple of practical ways how I was able to get myself a raise. Please share in the comment section what kind of methods you used when discussing yourself a raise.

Why is it important to get maximize income in your daily job? Because you spend roughly a quarter of your adulthood life at work so you better get compensated well enough for your time. In addition, each additional pay raise has a massive cumulative effect for the rest of your life. On top of all this, all future pay rises will be on top of the previous ones. Even a 300€ raise at the beginning of your career could be worth well over 100k € at the end of your working career.

Below you can find a couple of ways which have worked well for me.

Step #1:

Find out what is the pay range for your colleagues and other similar professionals in your field. At least in the U.S. for instance GlassDoor is a very good source of information. However, at least where I come from, this type of information is not available. But how I have managed to extract this information is to walk into a local tax office, log in to a desktop computer, type people's names and check how much they made last year. Anyway, there are always ways to find out this information so just figure it out because it is the most important thing to know.

Step #2:

If your compensation is below average of your colleagues then all you have to do is to discuss with your manager for instance during your IPM or similar. Please still note that your compensation is directly proportional to your performance. If you are below average you deserve only a below average salary. Same vice versa. So, before discussing about your salary make sure you honestly compare your performance to your colleagues first.

Step #3:

Once you know the salary range and your performance relative to the rest, you know how big of a raise you can ask for. If your pay is below your performance, then just mention both of this information in a constructive manner to your boss and if he or she values you then you will get the raise easily. In this case there is no need to continue from step #4 onwards.

Step #4:

If your salary is aligned with your performance, then getting a raise is a bit more difficult and you need to prepare well. First collect information about your performance and how well it stack up against your colleagues. In addition, list as well down all the things where you have improved. Next, make write a speech where you provide this information in a constructive manner. E.g. in these subjects I have improved/learned more, I have produced 20% more code than my average peer, I made this great improvement and so on. Next practice your speech in front of a mirror. Remember eye contact, good posture, self confidence and calm voice. Practice, practice and practice until you remember your speech by heart.

Step #5:

List down all the possible things where your boss might argue with you. E.g. in order to give you a 10% raise I would expect 30% more code than your peers, we have no budget etc. Just list them down and prepare for them. If you get arguments, then the main thing is to be constructive and ask what are the things you need to do in order to get the raise. Ask them in written and a deadline for them. Do not put your boss in a "corner". Be constructive. (Of course if you have a competing offer, use that as a last resort.)

Step #6:

Do all you can in order to exceed those previously mentioned goals. Once the deadline approaches, set up a meeting, provide this information in a similar manner as in step #4 and you should get a raise.

Just remember that when you are walking into your boss office to discuss about your salary, 80% of the work is done before you even step your foot in. If you do not believe that you honestly deserve a raise, do not even bother. Just make sure you are above average performer and hungry for more and you should do well. When you are in addition well prepared for the meeting it gives your boss a sense of feeling that "Oh shit, this guy came prepared...".

I have actually used Ramit Sethi's Briefcase Technique when getting my last pay raise. It worked like a charm because it gives an impression that you are well prepared and serious. In the technique you can list all the main things in bullets in a piece of paper about why you deserve a raise (made 3 improvements, produced 10% more code than peers etc.). Remember that your boss is making massive amount of money from your work and it is your job to make sure you are well compensated. No one else cares about your pay than you.

Thanks for reading.

Please comment below and share if you have any additional tips or tricks. Lets spread the good.

Steem on!