You’ve been working hard and just hoping for a raise at your current job but it’s never come. You’ve read about others starting side businesses but you know that’s not for you. You love your job and have no desire to start a business on the side, but you do want to earn more.
This is a tricky position to be stuck in. Should you find a new employer or keep plugging away at a job that seems to under appreciate your work?
With a little strategic planning you may be able to make a significantly larger amount of money at your current job. Here’s how.
Ask for a Raise
If you’ve been in your current position for a long time and have never seen a raise the best thing you can do is just ask. You’ve likely proved you can adequately handle your job and you deserve a raise.
Do a little research to see what others with your experience are making in similar positions. This will give you a number to go by when meeting with your boss.
It’s also important that when you set up this meeting that you have hard facts of how exactly you benefit the company. Your negotiation needs to be compelling.
If you think there’s no way your current employer is going to give you an hourly raise then asking for a bonus could be the perfect option for you.
Figure out what you do that benefits your company the most. Once you are sure what this task is set up a meeting with your boss and explain to him how you are benefiting the company’s bottom line. Now it’s time to negotiate.
Make a deal will your boss – if you increase your effectiveness by a certain percentage you are then rewarded with a bonus. Your employer is most likely to agree to this. After all, if you can successfully execute your plan then he’ll earn more money and the bonus he pays you will be worth every penny.
Make Yourself Indispensable
Most people slack of on the job for at least a couple hours per day. Don’t think the slacking goes unnoticed – because it doesn’t.
If you can position yourself to be your boss’s right hand man (or woman) he’ll begin to notice your value and a nice little raise should be in order.
To successfully execute this plan you should concentrate on getting all of your most important tasks done first. Every time you run out of work go to your boss and ask if there’s anything you can help out with. Before you know it he’ll be coming to you every time there’s a major task to be completed.
With time you’ll be given more work, more responsibility, and more pay.
If All Else Fails…
If you put in the time to make yourself invaluable to the company and indispensable to your boss and still don’t see an increase in pay it may be time to cut your ties.
Most employers would jump on the chance to reward their employees with a bonus for going above and beyond and increasing the sales of the business. If your boss expects a lot out of you but isn’t willing to pay you what you’re worth, it’s probably time to look for a new job.