Your career is your most valuable financial asset, offering you many financial benefits. You can make the most of it by getting a college degree and managing your career to its full potential. Doing this well can earn you millions of dollars in extra income throughout your lifetime.
As such, one topic I never get tired of writing about is how to get a raise. It's something that many people dream about but don't take action on -- but also a tip that can make a huge difference in your net worth if acted upon. Therefore, I'm writing about the topic again today. ;-)
I found an article from Kiplinger's that lists four tips for getting a raise. Their suggestions:
1. Keep your eyes peeled for better ways to do your job.
2. Don't be afraid to negotiate.
3. Get your ducks in a row and your numbers on paper.
4. Plot your strategy when it's time to move on.
My thoughts on these:
1. Constant improvement and over-delivering versus expectations. If a worker has these two things going for her, she'll do very well in the workplace.
2. The article says that "those who negotiated their first salary boosted their pay by 7.4% compared with those who didn't bargain." Wow! Do you know what 7.4% compounded over the course of your career is worth? It's a TON of money!
3. Write down your accomplishments and keep track of them -- you'll need to refer to them at review time even if you don't ask for a raise. But why stop there? If you're doing a great job, use them to help you get more pay.
4. Just another (good) away to promote your skills and accomplishments.
And if you want more ideas on how to make the most you possibly can, see these posts:
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