4 Ways to Get That Raise

1. Ask for a raise – This is obvious, but often overlooked. In most cases, your employer isn’t going to increase your salary just because you deserve it. If you want a raise it’s on you to ask for one directly. It’s a good idea to have a number in mind before asking. We recommend you aim hight and be prepared for your employer to counter with a lower offer.

2. Quantify your worth to the business – This isn’t possible for all jobs, but in many cases it is. If you can pinpoint how much money you bring in compared to the average worker in your role, you have great leverage for negotiating higher pay. It’s a simple math problem. If your employer knows losing you means losing a big amount from the bottom line they’ll be willing to pay up to keep you around.

3. Change jobs – Building a lasting relationship with an employer is great when it works, but in many cases to reach a higher pay grade you’re going to have to look elsewhere. It might not seem logical, but it’s often easier to jump into a higher role at a new company than within your present one. This is because companies tend to label people when they first start and don’t revise those opinions as people grow. If you think this might be your problem, start testing out the job market. You might even be able to get your current employer to respond with a sweet counter offer.

4. Earn an advanced degree – In many organizations, your level of education will have a major impact on your starting salary which serves as the baseline for your compensation through out your career. Going back to school, either fulltime or in the evenings, and earning a masters of phd degree can lead to a large increase in pay.

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