Comments on: Reader Success Story: How I Gave Myself a Raise http://www.getrichslowly.org/blog/2008/08/14/reader-success-story-how-i-gave-myself-a-raise/ personal finance that makes cents Fri, 09 Jan 2009 13:37:32 +0000 http://wordpress.org/?v=2.5.1 By: Anitra http://www.getrichslowly.org/blog/2008/08/14/reader-success-story-how-i-gave-myself-a-raise/#comment-145530 Anitra Sat, 23 Aug 2008 22:59:45 +0000 http://www.getrichslowly.org/blog/?p=1992#comment-145530 I read "Ask the Headhunter", and this is pretty much the advice he would give, too - show the company how you will make them more money (or save them money), and use that as leverage to get a raise (or a new job, if you're interviewing). If it doesn't work, then you know that the employer doesn't value your contribution, and you should look elsewhere. I read “Ask the Headhunter”, and this is pretty much the advice he would give, too - show the company how you will make them more money (or save them money), and use that as leverage to get a raise (or a new job, if you’re interviewing).

If it doesn’t work, then you know that the employer doesn’t value your contribution, and you should look elsewhere.

]]> By: jeflin http://www.getrichslowly.org/blog/2008/08/14/reader-success-story-how-i-gave-myself-a-raise/#comment-144814 jeflin Sun, 17 Aug 2008 12:13:33 +0000 http://www.getrichslowly.org/blog/?p=1992#comment-144814 It boils down to a win-win situation. If the employer feels he is not getting his dollar's worth by paying us more, there will be dissatisfaction. However, if we are sure that ten dollars have been generated through our efforts, and the company has not reciprocate, voicing out for a pay raise is fair enough. It boils down to a win-win situation. If the employer feels he is not getting his dollar’s worth by paying us more, there will be dissatisfaction.

However, if we are sure that ten dollars have been generated through our efforts, and the company has not reciprocate, voicing out for a pay raise is fair enough.

]]> By: jeflin http://www.getrichslowly.org/blog/2008/08/14/reader-success-story-how-i-gave-myself-a-raise/#comment-144812 jeflin Sun, 17 Aug 2008 12:02:09 +0000 http://www.getrichslowly.org/blog/?p=1992#comment-144812 Sometimes it is all about making the employer feel the money is well spent. If the employer pays a dollar more but feels he is not getting his dollar's worth, there will be unhappiness. But if we are sure we generated ten dollars for the company with our efforts, voicing out a pay raise is appropriate. http://jeflin.net Sometimes it is all about making the employer feel the money is well spent.

If the employer pays a dollar more but feels he is not getting his dollar’s worth, there will be unhappiness.

But if we are sure we generated ten dollars for the company with our efforts, voicing out a pay raise is appropriate.

http://jeflin.net

]]> By: Deb http://www.getrichslowly.org/blog/2008/08/14/reader-success-story-how-i-gave-myself-a-raise/#comment-144735 Deb Sat, 16 Aug 2008 16:44:50 +0000 http://www.getrichslowly.org/blog/?p=1992#comment-144735 I work for a large Hospital/University and belong to the union, so I cannot have a pay raise above the union contract, which is typically 3% annually. However, when I took the job 12 years ago, I knew that the position had been open for quite some time, and that they had not found any other qualified/interested candidates. I told them I would accept the position only if they started me at the very cap of the pay grade, and that I wanted flex hours. I got both. Every 5 years or so we get a 10-13% raise to adjust for market rates. Two years ago we also pushed to telecommute, and we now do that as well, which is the equivilant of earning another $2 an hour. Even though my income is just in the mid 5 figure range, my costs are virtually nil with this job - they even pay for my high speed internet and they provided the computer and desk & chair. Even though the work can get tedious, the pros outweigh the cons. Every day I feel extremely lucky! I work for a large Hospital/University and belong to the union, so I cannot have a pay raise above the union contract, which is typically 3% annually.

However, when I took the job 12 years ago, I knew that the position had been open for quite some time, and that they had not found any other qualified/interested candidates. I told them I would accept the position only if they started me at the very cap of the pay grade, and that I wanted flex hours. I got both.

Every 5 years or so we get a 10-13% raise to adjust for market rates. Two years ago we also pushed to telecommute, and we now do that as well, which is the equivilant of earning another $2 an hour.

Even though my income is just in the mid 5 figure range, my costs are virtually nil with this job - they even pay for my high speed internet and they provided the computer and desk & chair.

Even though the work can get tedious, the pros outweigh the cons. Every day I feel extremely lucky!

]]> By: Chicago Gal http://www.getrichslowly.org/blog/2008/08/14/reader-success-story-how-i-gave-myself-a-raise/#comment-144592 Chicago Gal Fri, 15 Aug 2008 15:55:46 +0000 http://www.getrichslowly.org/blog/?p=1992#comment-144592 I am glad your company delivered on their end of the bargain and gave you the 2nd half of the raise after the project was completed. I was in a similar situation several years ago that didn't turn out as well. I took on a lot of extra responsibilities above what I was hired to do at my job and asked for a raise to compensate me more fairly. The manager said he couldn't afford it and offered to pay me 1/2 the raise now and 1/2 in 6 months if things were still working out well. I was young and stupid and didn't get it in writing. When the 6 month review came along my performance was still rated very high but he did not deliver the raise. He lied and said he only promised to consider the raise not grant it in 6 months and he stll just didn't "have the money" (depite large revenue increases) and I had no documentation to prove the original offer. I recommend never working for a VP of Sales since they will say anything to get a sale and say anything to get what they want in general. Always get these committments in writing. I am happy to say that I did leave that company and make a much better wage now. I am glad your company delivered on their end of the bargain and gave you the 2nd half of the raise after the project was completed.

I was in a similar situation several years ago that didn’t turn out as well. I took on a lot of extra responsibilities above what I was hired to do at my job and asked for a raise to compensate me more fairly. The manager said he couldn’t afford it and offered to pay me 1/2 the raise now and 1/2 in 6 months if things were still working out well. I was young and stupid and didn’t get it in writing.

When the 6 month review came along my performance was still rated very high but he did not deliver the raise. He lied and said he only promised to consider the raise not grant it in 6 months and he stll just didn’t “have the money” (depite large revenue increases) and I had no documentation to prove the original offer.

I recommend never working for a VP of Sales since they will say anything to get a sale and say anything to get what they want in general. Always get these committments in writing.

I am happy to say that I did leave that company and make a much better wage now.

]]> By: Samir http://www.getrichslowly.org/blog/2008/08/14/reader-success-story-how-i-gave-myself-a-raise/#comment-144580 Samir Fri, 15 Aug 2008 15:17:34 +0000 http://www.getrichslowly.org/blog/?p=1992#comment-144580 I've had a pretty inspirational line of managers in my (albeit short) career. One of the greatest pieces of advice I've ever received came from my first manager. We were at my annual review and he told me flat out that a 3-5% raise every year (typical in my industry) is nothing. It's barely (if at all) keeping up with inflation. He told me that I'd make my real money by advancing positions and switching companies. I truly think he was right. In the days of old, there was value with sticking with a single company for an entire career. However, in today's market, large corporate entities have to be more preservative of their bottom lines, and the rewards that once came with loyalty just aren't there. I think it's important to market yourself has a highly mobile, upward bound individual. I’ve had a pretty inspirational line of managers in my (albeit short) career. One of the greatest pieces of advice I’ve ever received came from my first manager. We were at my annual review and he told me flat out that a 3-5% raise every year (typical in my industry) is nothing. It’s barely (if at all) keeping up with inflation. He told me that I’d make my real money by advancing positions and switching companies. I truly think he was right. In the days of old, there was value with sticking with a single company for an entire career. However, in today’s market, large corporate entities have to be more preservative of their bottom lines, and the rewards that once came with loyalty just aren’t there. I think it’s important to market yourself has a highly mobile, upward bound individual.

]]> By: willie http://www.getrichslowly.org/blog/2008/08/14/reader-success-story-how-i-gave-myself-a-raise/#comment-144515 willie Fri, 15 Aug 2008 12:09:59 +0000 http://www.getrichslowly.org/blog/?p=1992#comment-144515 It seems like many grads today expect higher pay and raises right out of school or soon after. Put in your time, gain experience and it will come. You have 40 plus years to work. I graduated in the 1990's and there were no jobs. I put in my time and finally caught a break 6 years later. Be patient and work hard and it will pay off. It seems like many grads today expect higher pay and raises right out of school or soon after. Put in your time, gain experience and it will come. You have 40 plus years to work. I graduated in the 1990’s and there were no jobs. I put in my time and finally caught a break 6 years later. Be patient and work hard and it will pay off.

]]> By: Writer's Coin http://www.getrichslowly.org/blog/2008/08/14/reader-success-story-how-i-gave-myself-a-raise/#comment-144512 Writer's Coin Fri, 15 Aug 2008 11:43:22 +0000 http://www.getrichslowly.org/blog/?p=1992#comment-144512 Great advice, what do you lose by asking? If they react negatively, it may give you the boost you need to get you looking for a new job. I asked once and got half of what I wanted. Then I asked again and they said they wouldn't do it again for me. So I left and got a new job paying me 25% more. In about two years "asking for a raise" boosted my salary up by 43%. If I wouldn't have asked who knows what I'd be making. Great advice, what do you lose by asking? If they react negatively, it may give you the boost you need to get you looking for a new job. I asked once and got half of what I wanted. Then I asked again and they said they wouldn’t do it again for me. So I left and got a new job paying me 25% more. In about two years “asking for a raise” boosted my salary up by 43%.

If I wouldn’t have asked who knows what I’d be making.

]]> By: Elizabeth http://www.getrichslowly.org/blog/2008/08/14/reader-success-story-how-i-gave-myself-a-raise/#comment-144493 Elizabeth Fri, 15 Aug 2008 03:17:13 +0000 http://www.getrichslowly.org/blog/?p=1992#comment-144493 For Michael, If you've been told that the company is struggling it is definitely not the right time to ask for a raise. Right now you need to decide if you are going to become an important part of this company (you will always be below the family though) or if it is time for you to polish your resume. If your employer is good they will value extra effort that is given to them when times are tough and will probably try to make it up to you when business turns around. However, asking for more money when they are probably taking cuts for themselves first will just make them question your commitment. For Michael,
If you’ve been told that the company is struggling it is definitely not the right time to ask for a raise. Right now you need to decide if you are going to become an important part of this company (you will always be below the family though) or if it is time for you to polish your resume. If your employer is good they will value extra effort that is given to them when times are tough and will probably try to make it up to you when business turns around. However, asking for more money when they are probably taking cuts for themselves first will just make them question your commitment.

]]> By: Tim http://www.getrichslowly.org/blog/2008/08/14/reader-success-story-how-i-gave-myself-a-raise/#comment-144489 Tim Fri, 15 Aug 2008 03:12:57 +0000 http://www.getrichslowly.org/blog/?p=1992#comment-144489 very nice indeed. i haven't ever heard of anyone being fired for asking for a raise. The easiest way to get a raise is indeed asking for a raise. if you ask and the employer says no, you are still making the same amount. with that said, you have to show something quantifiable if possible how you contribute and justify the increase in wages. if you don't get a raise, then you should ask your supervisor during your periodic reviews exactly what will get you to a raise for the next time around. now, you can't constantly badger your employer about a raise every time though either, but every increase in contribution level should be noted. i have to remind my wife of this constantly, although i think she is getting a hang of it now considering that she just got a 31% base salary raise plus what amounts to 80% of commuting expenses after only a month on the job. very nice indeed. i haven’t ever heard of anyone being fired for asking for a raise. The easiest way to get a raise is indeed asking for a raise. if you ask and the employer says no, you are still making the same amount. with that said, you have to show something quantifiable if possible how you contribute and justify the increase in wages. if you don’t get a raise, then you should ask your supervisor during your periodic reviews exactly what will get you to a raise for the next time around. now, you can’t constantly badger your employer about a raise every time though either, but every increase in contribution level should be noted. i have to remind my wife of this constantly, although i think she is getting a hang of it now considering that she just got a 31% base salary raise plus what amounts to 80% of commuting expenses after only a month on the job.

]]> By: Sara at On Simplicity http://www.getrichslowly.org/blog/2008/08/14/reader-success-story-how-i-gave-myself-a-raise/#comment-144486 Sara at On Simplicity Fri, 15 Aug 2008 02:11:49 +0000 http://www.getrichslowly.org/blog/?p=1992#comment-144486 I love this story! Sure, it won't apply to everyone's situation, but that's exactly the point. Jon didn't think it applied to his *own* position, but he gave it shot and got what he wanted. Part of financial success is not settling for less than we're capable of. I love this story! Sure, it won’t apply to everyone’s situation, but that’s exactly the point. Jon didn’t think it applied to his *own* position, but he gave it shot and got what he wanted.

Part of financial success is not settling for less than we’re capable of.

]]> By: Scott @ The Passive Dad http://www.getrichslowly.org/blog/2008/08/14/reader-success-story-how-i-gave-myself-a-raise/#comment-144485 Scott @ The Passive Dad Fri, 15 Aug 2008 01:30:31 +0000 http://www.getrichslowly.org/blog/?p=1992#comment-144485 I always found that it paid off to ask for a raise when I worked in the corporate world. Instead of feeling frustrated or underpaid, schedule a meeting and discuss your current workload or desire for a promotion. It's also a good idea if you are looking for another job to consider what you would do if your current employer wants to pay you more money to stay. It will happen to those employees that are top notch and will have a big impact on morale or productivity on your team. Be prepared, you boss will ask what it will take to keep you on board. If you hate your job, the answer will be easy:) I always found that it paid off to ask for a raise when I worked in the corporate world. Instead of feeling frustrated or underpaid, schedule a meeting and discuss your current workload or desire for a promotion. It’s also a good idea if you are looking for another job to consider what you would do if your current employer wants to pay you more money to stay. It will happen to those employees that are top notch and will have a big impact on morale or productivity on your team. Be prepared, you boss will ask what it will take to keep you on board. If you hate your job, the answer will be easy:)

]]> By: RDS http://www.getrichslowly.org/blog/2008/08/14/reader-success-story-how-i-gave-myself-a-raise/#comment-144479 RDS Fri, 15 Aug 2008 00:10:57 +0000 http://www.getrichslowly.org/blog/?p=1992#comment-144479 Some of the best advice I have ever been given was to write down my professional accomplishments. At the end of every month I take a few minutes to look over my emails and my calendar and write down my accomplishments for the month. When my annual review comes around, I share my list of accomplishments with my boss. I am always amazed at how many of my accomplishments that I have already forgotten about. It makes me realizes that if I can't remember all of the work that I did, there is no way that my boss will (unless I remind him). Some of the best advice I have ever been given was to write down my professional accomplishments. At the end of every month I take a few minutes to look over my emails and my calendar and write down my accomplishments for the month. When my annual review comes around, I share my list of accomplishments with my boss. I am always amazed at how many of my accomplishments that I have already forgotten about. It makes me realizes that if I can’t remember all of the work that I did, there is no way that my boss will (unless I remind him).

]]> By: Laura http://www.getrichslowly.org/blog/2008/08/14/reader-success-story-how-i-gave-myself-a-raise/#comment-144475 Laura Thu, 14 Aug 2008 22:39:29 +0000 http://www.getrichslowly.org/blog/?p=1992#comment-144475 What a great outcome! I'm glad that the effort paid off and I wish Jon the best. What a great outcome! I’m glad that the effort paid off and I wish Jon the best.

]]> By: Jerry http://www.getrichslowly.org/blog/2008/08/14/reader-success-story-how-i-gave-myself-a-raise/#comment-144471 Jerry Thu, 14 Aug 2008 22:05:53 +0000 http://www.getrichslowly.org/blog/?p=1992#comment-144471 That is a really inspiring story, and I am particularly impressed that Jon took the lead and just created a chapter for a training manual. It's easy to p*** and moan about something, but rare is the person who will just go ahead and try to fix a problem. It gives you some good rep with the company, and also some insurance that your ideas will be heard. All in all, a really cool thing to read! Jerry That is a really inspiring story, and I am particularly impressed that Jon took the lead and just created a chapter for a training manual. It’s easy to p*** and moan about something, but rare is the person who will just go ahead and try to fix a problem. It gives you some good rep with the company, and also some insurance that your ideas will be heard. All in all, a really cool thing to read!
Jerry

]]> By: Kristen a.k.a. The Frugal Girl http://www.getrichslowly.org/blog/2008/08/14/reader-success-story-how-i-gave-myself-a-raise/#comment-144468 Kristen a.k.a. The Frugal Girl Thu, 14 Aug 2008 21:19:41 +0000 http://www.getrichslowly.org/blog/?p=1992#comment-144468 That's great! By the way, your place of employment sounds exactly like the IT place that my husband works, right down to the no training manual. That’s great! By the way, your place of employment sounds exactly like the IT place that my husband works, right down to the no training manual.

]]> By: Michael http://www.getrichslowly.org/blog/2008/08/14/reader-success-story-how-i-gave-myself-a-raise/#comment-144463 Michael Thu, 14 Aug 2008 20:19:44 +0000 http://www.getrichslowly.org/blog/?p=1992#comment-144463 That's really nice. I am actually at a tough spot right now myself concerning my current employer. I was hired about 1 1/2 years ago right out of college. Like mentioned, I was desperate and took a lower starting salary because I needed the money. However, this company is a family business with no formal way or doing reviews or giving out raises. I even moved into a new position within my company about 3 months ago with new responsibilities. I work a bit more hours and get extra overtime. I asked my supervisor about getting a raise and he said that he would have to talk to the president (family owner), and that he would probably say that my working overtime counts as getting more money. He said he could do it but, "it might be suicide." So I put it off, but get frustrated at my low pay. He said business is down from last year and it wouldnt be a good idea to ask for a raise. I find this highly unfair as I do a good job and am quite capable. Any advice? I love this blog by the way. That’s really nice. I am actually at a tough spot right now myself concerning my current employer. I was hired about 1 1/2 years ago right out of college. Like mentioned, I was desperate and took a lower starting salary because I needed the money. However, this company is a family business with no formal way or doing reviews or giving out raises. I even moved into a new position within my company about 3 months ago with new responsibilities. I work a bit more hours and get extra overtime. I asked my supervisor about getting a raise and he said that he would have to talk to the president (family owner), and that he would probably say that my working overtime counts as getting more money. He said he could do it but, “it might be suicide.” So I put it off, but get frustrated at my low pay. He said business is down from last year and it wouldnt be a good idea to ask for a raise. I find this highly unfair as I do a good job and am quite capable. Any advice? I love this blog by the way.

]]> By: JLR http://www.getrichslowly.org/blog/2008/08/14/reader-success-story-how-i-gave-myself-a-raise/#comment-144462 JLR Thu, 14 Aug 2008 20:18:16 +0000 http://www.getrichslowly.org/blog/?p=1992#comment-144462 It's great to read stories such as the above. I always worked at small firms and seemed to be the one to create a guides manual each time I went to a new job. I know that helped me when review time came around. I'm still keeping a running list of my achievements for review time but have added some websites as side businesses as well. Good luck to Jon having continued success with this company in the future! It’s great to read stories such as the above. I always worked at small firms and seemed to be the one to create a guides manual each time I went to a new job. I know that helped me when review time came around.

I’m still keeping a running list of my achievements for review time but have added some websites as side businesses as well.

Good luck to Jon having continued success with this company in the future!

]]>