How To Get A Raise: 8 Myths

Myth #1
Money will not make me happy. It is best to focus on other values.

This is just an excuse for under-achievement. While it is true that money itself may not make you happy, it will make make your life much easier. It's OK to allow yourself to make more money. Go for it. You work the same 50 hours a week as everybody else. You might as well get paid more for it, right?

Myth #2
The best way to get a raise is to list the reasons why I need more money.

Absolutely not true. It's not "why I need more money" it's "here are the reasons why I deserve more." It's not about you. Your rationale should be employer-centered rather than self-centered. Your employer could care less about your financial needs. You need to stress your present and future performance. Don't talk about your personal problems with money – that will just make you look financially irresponsible. When you think about how to get a raise, think about "what have you done for me lately?" ... this is what they are thinking.

However, AFTER you have given very good professional reasons why you deserve a raise based on your contribution and performance, you should consider using emotional appeals to get what you want.

Myth #3
My salary is determined by my company. There is nothing I can do to influence what they pay me.

While your company does have final say over what you make, every company functions in a competitive environment - a marketplace that determines what they need to pay to their employees. As an employee, you should know what other companies pay people in your same position. Armed with documented knowledge of average salaries for your industry, you are in a very good position to negotiate for more money. If you are doing exceptional work, or if you have taken on new responsibilities, you are are in an even better position.

Myth #4
Once I accept a job, I am locked in to the salary that I agreed on when I was hired.

This is not true. Once you get hired in and become established, you usually have some leverage. Studies show it costs employers $10,000 to $15,000 to hire a new employee. It is then more cost effective for companies to keep the people they have, rather than hiring new people. Think about this when you think about how to get a raise.

Myth #5
Employers will always try to pay the least amount possible.

If they are smart, they won't. If you are a good employee, you probably make the company many times more than what they pay you. A good employee is hard to find.

Myth #6
Company policy dictates what I get, and my boss can't do anything about that.

It depends on the company. If your boss values you, and likes you, he or she will likely come to your aid to help you get what you deserve. Also, as you advance to higher positions, employers are more likely to negotiate with you. They will work to incentivize good people to stay.

Myth #7
My current pay reflects what I am worth.

What you are paid right now does not necessarily reflect your value. It relates more to salary comaparables, your negotiation skills, and your ability to frame and communicate your performance to your employer.

Myth #8
Raises and promotions are two separate things that should be deal with separately.

Not true. You can and should bring up both at the same time. In fact, inquiring about "what it takes to be promoted" is a good strategy for getting a raise. Many times, a higher salary is contingent on a promotion to a new title and new responsibilities.

Also, often times your job will change over the course of months or years and have little resemblance to the job description you were hired into. If you do your research, you may discover you are doing the work of an entirely different position. When you decide to go for a raise, decide whether it is better to ask for a promotion (with new responsibilities and compensation) or a salary increase within your same position.

People in sales and marketing positions that have more of a direct impact on revenue have an easier time justifying an increase in compensation.

Yes, people is these types of positions that are able to more easily say "I earned an extra 125k for the company in the 3rd quarter."

However, even if you are in a support or administrative position, you can identify ways that you cut costs, saved your co-workers time or effort, or took on extra responsibilities that saved the company the expense of having to hire another person. Try to develop specific, measurable indicators that demonstrate your achievement. It is your responsibility to identify these indicators. Do that, and you will get the raise. I promise you.

I urge you to try this Guide! ... there are so many effective techniques waiting for you!

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