There are lots of guides on how you might go into negotiations with your boss about asking for more money. That’s all well and good, but it’s really not about you or how you feel.
It’s about how much money, in theory, you generate for your company through your presence. That’s really all a company CEO is thinking about. They want to get the most money they can out of each employee by paying them as little as they can get away with.
When you think in these terms you can start to consider how you can get more money from your job.
Are You Being Reasonable?
This is a question you need to ask yourself. If you’re being paid well for your profession, the chances are you’re not going to get a raise just for doing your job. After all, if you quit they can bring in another talented professional to do your job.
Naturally, if you’re undervalued, which you can find out easily enough through looking for industry averages on Google, you need to ask for more immediately.
But if you’re somewhere in the middle, this can be a little harder to determine. Finding the right moment to ask for a raise is difficult.
You need to work to get to that top pay level. Don’t think you’re automatically entitled to more. Be reasonable and look at it from the company’s perspective.
Be Even More Valuable to Your Company
Remember when I talked about being valuable to your company?
In those terms, you need to make sure the company relies on you. For example, if you run a whole database of the company’s customers and you have full, master access to them you’re highly valuable.
Your boss knows that if you’re unhappy you could cause havoc.
Likewise, if you’re a technical guy who happens to be the only one who knows how to maintain a machine in the workshop, you could cause chaos if you decided to leave.
Do you get assigned the company’s top clients?
If you left it would upset those clients and it would be difficult to replace the value of those personal relationships.
See what I’m getting at? These are the positions you need to get into. You need to be so valuable to your company that it couldn’t function in the same way if you weren’t there.
These are the people who get the raises because the company is desperate to keep them. If you’re just an Average Joe employee, who gives a shit if you decide to leave?
Look for Another Job on a Regular Basis
These days the idea of sticking with one company straight out of college until retirement is nonsense. The average millennial will change jobs almost as many times as they change their socks.
But don’t start looking for a job when you don’t get what you want or when the company is in trouble.
Look for a job when things are going great. It’s worth it to look into other positions at least once every few years.
If you happen to get shortlisted for another job (when you start discussing salary and benefits) you can use this information.
If it’s superior to your current job, put forward this information to your boss saying you may have another job offer. Tell them what they’re offering you and see how they react. You might be surprised that they’ll match or beat that package to keep an employee they value.
Don’t let them think they own you.
Make it clear that you’re the sort of person who’s always seeking out better opportunities. If you’re a valued employee, they’ll bend over backward to make sure you’re not going anywhere.
And if you get a better offer and your current boss doesn’t match it, you know it’s time to move.
Play the Game with Facts Not Emotions
It’s important to look at your value from the point of view of an employee. Nobody is going to give you a six-figure salary to clean toilets.
When you’re expandable you have little to no negotiating power. You can’t waltz into your boss’s office and threaten to quit if you don’t get a raise because they’ll tell you to go and do it. They’ll find someone to replace you within a couple of weeks.
You should also take into account all the aspects of the packages you’re being offered. For example, if one company offers you $50,000 and the other $52,000 which one do you take?
You might say the latter, but what if I told you the former will give you an extra seven days of vacation time every year?
These are the extras you need to take into account when negotiating a raise. Addons are also worth something, so don’t just look at the salary number.
It’s All About Your Value
Fairness and justice are two things that don’t come into business. You’ll get a raise if you’re valuable enough to deserve a raise.
From a business point of view, you’re an asset. If you’re not a worthy asset, you’ll get paid bottom dollar and your boss won’t care if you decide to quit.
The key to getting more money from your job is to increase your worth and prove yourself invaluable to the way the business runs.
Have you ever tried to get a raise from your boss? How did it go?