Are you making the kind of money you want to be making in your current job? Chances are, your answer is no. But when you know how to get a raise, everything can change.
If you feel like you should be making more — but don’t want to have to apply for new positions at different companies and start all over somewhere else — getting a raise can be the answer.
Today I’d like to share my top tips on how to make more money where you are right now and propel your career in the direction you want to go.
Add More Value
My first tip is to create and add more value to the company.
What can you do to help the company make or save more money? How can your efforts help to boost the organization’s results or reputation, or fulfill the company’s mission or objectives? What can you do to make your manager’s or coworkers’ lives easier?
Look for needs that aren’t being met — either within the organization or your clients’ or customers’ needs — and meet those needs to add more value wherever possible. That’s the first, and biggest step you can take to make yourself more deserving of a higher paycheck.
What you should really be doing for them is creating more value. You want to be able to deserve that raise when you finally ask for it. The way you do this is by creating more value in your role and by the things that you’re doing on a regular basis.
Once you’ve really grasped the role, you can start to make it better and make the experience better for everyone else involved.
If you do this, then you are really preparing yourself for that conversation. You will be able to tell them why you think you deserve the raise and even what you are willing to do to go beyond that in order to justify the raise.
Increase Your Productivity
My second tip is to be more productive.
Look for ways to get more done in less time so that you’re able to take on new projects more quickly and provide even MORE value to your company.
Don’t just do the bare minimum required to complete your tasks and then spend the rest of the day goofing off or not making good use of your time.
Prove that you are fully dedicated to the company’s success and are always on the lookout for ways to get the job done better and faster. That’s how you demonstrate your value.
Raise Your Visibility
My third tip is to be more visible.
Many managers don’t know what their employees are doing on a daily or even a weekly basis. If your boss doesn’t know what you’re working on, how can they know that you deserve to be paid more money?
One way to do this is to provide your boss with a weekly report listing all the tasks you complete each week. You don’t have to spend a lot of time on this in order for it to be impactful — less than 20 minutes should do it.
When you show your boss how much work you do on a weekly basis, they will have a much better sense of the value you are bringing to the company. And this will definitely help you when you ask for a raise.
I encourage you to provide this visibility into your role not only for your immediate boss but any other managers above them as well. Because when more people in the “upper levels” of the company understand your value, you are more likely to get recognized for it.
My fourth tip is to take advantage of every opportunity to expand your skillset.
Many companies offer their employees training opportunities throughout the year so they can gain new skills and expertise that will benefit the company.
I encourage you to act on every opportunity that comes your way.
When your manager sees your dedication to self-improvement and how you’re continually working to increase your worth to the company, they will value you accordingly.
Improve Your People Skills
My fifth tip — and this is a really important one — is to work on your “people skills” and your emotional EQ.
These days, one of the most important qualities managers look for in their employees is the ability to get along well with others. If you’re an awkward or unpleasant person to be around, you will find it much harder to advance in your company than if people enjoy being in your presence.
That’s because most advancement in a company requires you to engage with and collaborate more with other people, and possibly even manage them.
Employees who have strong emotional intelligence and know-how to collaborate with others and inspire them to be their best are destined to become the leaders of an organization.
Ask for It
Finally, my last tip is to make sure you ASK for more money.
Don’t wait around for your boss to decide to give you a raise. If you have really mastered your role and are ready for the next step, ask your manager for a raise or promotion.
Asking will not hurt you at all. In fact, it can only help you. Because even if they say no, you are likely to receive valuable information that will help you in the long run — such as what you need to do to qualify for the promotion you want, as well as a list of action items you need to complete in order to get there.
And if they do give you a list to work on, be sure to regularly report back on your progress with those action items, so they can see your dedication and determination to succeed. The more you show them how serious you are about providing value to the organization, the more they will eventually reward you for it.
How to Get a Raise — What’s Next for You?
What steps can you take to make more money in your current position right now? Will you look for ways to add more value to your job, increase your productivity or improve your skillset? What can you do to perfect your people skills or become more visible?
Whatever the next step is for you, learning more about, making money, how to get a raise, and other principles of success will help you get a “yes” when you ask for your raise. To help you out, I’m giving you the first two chapters of one of my NY Times bestsellers for free. Download The Success Principles here.
And remember, nothing in your life will change for the better until you do.