Money Question: Methods To Increase Your Salary
There always comes a moment in one’s career when the pay is not enough. Whether it’s inflation or your expanding needs, there is a moment to ask for a salary raise. What the employer will ask you is the premise for the increased pay. Did you learn new skills? Did you take on a bigger number of job projects? Or is it simply the time for performance evaluation? Find the answers from our experts on how to increase your income in the article below.
#1: Learn New Skills
One of the most time-consuming options when it comes to increasing one’s pay. Nonetheless, there is a silver lining. Once you master new skills, you can always use them in a new workplace. For instance, if your current employer refuses to increase your pay. When contacting a resume editing service, don’t forget to mention the new skills you’ve just acquired. Modern companies search for versatile workers who can do everything in their field.
Are you a traditional artist? Learn some Photoshop tips and make your art digital. By learning new skills, you get an opportunity to work on more projects. Sure, you’ll have more responsibilities, but your payment will be higher too.
Platforms for mastering new skills are as follows:
- Coursera. Learn everything in social sciences, art, design, and engineering;
- Khan Academy. Find everything you ever wanted to know about math, physics, art, and history;
- Udemy. The best thing about this source is the short courses. Some of them are less than one hour. This is an amount of time anyone can find in their busy schedule once they prioritize studying;
- Codecademy. Everything you need to know about engineering and programming is here.
Are there quicker ways to get a salary increase? Yeap, there are. Keep reading.
#2: Salary Reviews
The most simple and the quickest way to get a raise. The end of the quarter or a year is a perfect time to ask for a salary raise. Most companies manage their performance evaluation once in a half year. Asking for better money is optional during the performance evaluation period. However, if you’ve got top performance in quality and quantity, ask for a raise. All because this is the time when HR managers expect the staff to ask for salary reviews yet are more open to discussion, so it’s time to learn more.
If your performance is average but meets the working standards, you can still ask for a salary raise, especially if you see that the average pay for your work got higher in the job market.
#3: Use Success As a Leverage
Your career is blossoming, and you’re hopping on from one successful project to another. Why not mention it? If you brought success to the company, you have a right to ask for a salary increase without feeling guilty. The money you bring to the company should correspond to the money you get paid. When is the best time to be honest with your supervisor about the project accomplishment?
- After nailing a client that is important in the industry;
- After closing a deal that has a significant value for the company;
- Once you start a project that attracts tons of investments (especially the international ones).
#4: Aim for Higher Than Average Performance
If your job load is the same and the responsibilities don’t change, improve your performance level. If you have an opportunity and time to work on more projects, consider this option. Once your supervisor sees your outstanding performance, you can ask for a fair pay raise. The question is: how can one increase their performance?
- Ask your supervisor for feedback. By asking them for a little feedback, you’ll learn which aspects of your work are great. You’ll also learn which aspects need ‘trimming’;
- Improve self-discipline. It’s all about time management and organization skills. If you know how to organize your work schedule, you’ll squeeze in all tasks;
- Master the art of relaxation. Working without rest leads to burnout in the long term. Learn work-and-rest techniques like Pomodoro that help you take a quick rest before you get exhausted.
#5: It’s All About Likability and Charisma
Giving money to someone whom all coworkers hate is a real challenge to HR specialists. Believe it or not, getting more money is also about being likable. Sure, productivity is the biggest chunk in the ‘salary raise’ package. But if you’re a bully or gossip, no one would like to deal with you. Why so? Because money is a gesture of gratitude and appreciation. If your interpersonal skills are weak, there is a chance you won’t get a salary raise.
#6: Always Remember About the Things to Avoid
There are a few no-brainers you should remember while asking for money. First of all, stay reasonable. Warning your manager that you’ll leave the company if they reject your request is a bad idea. By doing so, you give an impression of a person who already has an open job offer. The HR specialist might tell you that you’re free to leave the company anytime you want. Not the best way to lose your job, right?
The second tip is to stop mentioning the salaries of your coworkers. This is simply unethical regardless of how much other people in the same job position as yours earn. Meanwhile, you can always mention that the average pay for your duties got higher in the job market.
The last tip is to ask for feedback in case of refusal. You’ll learn the reasons and improve for the future salary review.
Final Thoughts
We all want honest pay. The trick is how to show that we are worth it. Improve your performance and focus on your advantages as a professional. Expand your skill set, work on your ethics, ask for feedback, and show respect to others.
We hope the article was helpful to you. Good luck!