3 Fastest Ways To Get a Raise
Last updated on September 12th, 2023 at 11:08 pm
A few years ago, the internet was buzzing with the story of how Elon Musk fired his long time executive employee who asked for a huge raise.
Mary Beth Brown who had been working with Mr. Musk for over 12 years as his assistant, requested a raise.
In return, Musk asked her to take 2 weeks off so that he could determine how significant her role was in his company.
When she returned after taking the time off, she was fired by Musk because he found out that she wasn’t critical to his success since he could comfortably assume her role by performing her tasks.
Here’s the truth: Most people overestimate their importance to the company’s success. You might feel that you deserve a raise but how do you think your boss feels?
Can your job be outsourced to other countries where 10% of your salary will be a big deal to them? Are there interns who can successfully do your job with minimal training?
Regardless, we all need more money right?
With the growing inflation and high cost of living, you’ll need to see more money in your account to be able to live the American (or any other) dream.
3 Fastest Alternative Ways to Get a Raise:
1. Rid Yourself of Unnecessary ‘Stuff’:
The Wall Street Journal, reports that the average American also spend over $1.2 trillion on nonessential goods.
Most of these stuff are things that keep taking money from you to continue its maintenance on monthly basis. The ideology is that more stuff will make us happy and liberate us so we never have to worry about stuff in the future.
We are human and therefore insatiable. More stuff will not make you happy. being the more we buy, the more we find reasons to buy more.
This is why an average family in USA spends over $1,700 on just clothes.
When was the last time you went through your possession? I’m sure there are a ton of items you don’t need or will never need in your life.
Most people even rent a storage facility to keep more stuff because they rather incur debt than get rid of their unneeded stuff.
No matter how much you earn, if you cannot keep your expenditure lower, you will always feel that you need more to live the dream.
Take stock of those things you don’t need or haven’t used in the past 3 months and sell them off. Buy less stuff, live on less and you will be adding to your income in a big way.
2. Go Work For Someone Else:
If you believe you are a key player, top producer and you deserve a significant raise, go work for someone else.
Sometimes it is easier to negotiate a better pay when you are outside than when you are already inside a company because seem more attractive to an outsider. A potential employer might see you as an asset and will likely pay better than your current boss.
I was reading a Facebook comment where an employer refused to give a raise till the employee found another job with more pay. Suddenly, management wanted to talk when she turned in her resignation.
By taking your abilities somewhere else, you could attract the kind of salary that will match your abilities, knowledge and results.
Many talented employees stay in their current jobs even though they; hate it, feel unmotivated and underappreciated simply because they are afraid of change.
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Fear keeps a lot of people from living their lives to the fullest; fear of the unknown will keep you working for peanuts when you can be paid better else where.
If you are not advancing on your current job and you are not getting promoted as you feel you should, maybe your employers don’t see you as valuable as you see yourself.
By going to work for someone else, you can change that and achieve the legendary status that your current employment may never give you.
3. Get a Side Hustle:
This is 2023 where you can do more with less.
From your home, for just 2 hours of your off time, you can connect globally and sell products and services that add to your income extensively.
Side hustle not only gives you added financial bonus, it also gives you freedom and happiness.
According to Bankrate, more than 1 in every 4 millennial work in a side hustle and so should you.
With a side hustle, your discover your entrepreneurship spirit and one day start your own full fledged company. You could also work so hard that your side income replaces your current income
There is an element of entrepreneurship in all of us; by discovering your passion and what you can achieve on your own time you can add the needed funds that will make asking for a raise unnecessary.
When a job doesn’t pay good enough, motivation takes a nose dive and many employees can’t wait for: “Thank God It’s Friday (TGIF)“.
Do not be among those employees, learn to set yourself apart.
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This article is a guest post from Oscar. He is passionate about entrepreneurship, writing and motivating millennials . He is also a confirmed geek!
