This week on the blog...
Inflation is so mother f*cking high this year, AGAIN, so you definitely should be looking to increase your income, just to keep up those inflated costs.
Regardless of inflation though, you are very likely WORTH more than you are paid for. So, maybe its time to ask for a raise? Even asking yourself, if you are self employed.
For those that ARE employed though, here’s a few tips on how to bring more money home:
1. Research
Look into average salaries of your position. Look up your job description, if you are doing MORE than your job description, or you are doing duties that are part of another job “title”, then get those numbers - what are those positions paid, in comparison to yours?
This is an easy benchmark to start with, so you have some fuel to negotiate with.
2. Prepare
The better prepared you are for the conversation, the more likely you are to hear a positive answer. You need to know how much you can reasonably ask for, and how to ask for it. Dont be afraid to use inflation as another talking point, cost of living is going up, so you should be at least making enough to keep up!
3. Review your work
Review your work to make sure you’ve been doing a good job. If you’ve been consistently getting great feedback and hitting your targets, you’re on the right track. This is more amo for the negotiation.
It’s best if you can directly link your work to an increase in sales or profits, but at least offer evidence that the company is doing better because of your efforts, and be specific with numbers and dates.
4. Time It Right
You’ve done your research and preparation, created a great argument for higher pay. Now you are ready to pitch, but WHEN is this a good time?
When you look most valuable, ideally. Not when others are asking, or when there is a stressful deadline. And definitely not when you are asked to do more work. If it were me, I’d say yes to the work, I’d get it done immaculately, and then I’d prep for the conversation asking for a raise.
5. Negotiate Smartly
Present your argument, provide the data to back it up and ask for a raise you consider to be reasonable and fair. Do NOT inflate this number to an unreasonable amount. Inflate a little, if you wish (always aim high!), but make sure your ask is what you do consider fair.
At the end of the day, remember you are VALUABLE. Even if these steps don’t work to get the exact number you want, your employer will know you are feeling undervalued, and you may still get a raise in the end (even if not the exact amount).
Prepare for either yes or no. But, the YES can never happen if you don’t ask!
If you ever want to come up with a personalized plan to secure that promotion, or that remote job, or upping your confidence and self worth to PREPARE for this negotiation, I have a few 1:1 Coaching spots open this month!
