Tuesday, June 12, 2012
Before Asking for a Raise: Make Those You Depend on For a Paycheck Dependent on You
Yesterday we shared Suze Orman's advice for those who are working to hope for the best but prepare for the worst by saving and living below your means from her book The Money Class: Learn to Create Your New American Dream
Today, we share her advice for keeping your job and asking for a raise. She recommends taking a clear-eyed look at your attitude toward work and pay. She recommends that you ask yourself if you are expecting to be paid more because of a sense of entitlement, because you've hung in there year after year, or because you are doing spectacular work?
Orman explains, "No private-sector employer has to give you a raise. No one is obligated to dole out a bonus. As valued as you are by your employer, the realisty is that there are a lot of very talented people who could replace you amoung the unemployed and underemployed."
She continues, "Please do not think the reason they are out of work is that they aren't as good at their job as you. There are literally millions of extrememly talented people who are out of work."
Orman says, "Make those you depend on for a paycheck dependent on you... When you overdeliver on every part of your job and exceed expectations, you are making your case loud and clear to be compensated for your work... Build a reputation, make your mark, put in the effort, and you will be on solid ground."
Orman explains that this attitude and work ethic apply to all ages (not just the young workers just starting out) today. You must double down on making yourself and abolutely essential to your employer. She says that advice should be your goal at any time, but in these times of economic stress it is imperative.
Of course, at some point you will merit a raise. Stop by tomorrow to learn how Suze Orman wants you to ask for a raise.