What would a cool $5-$10K raise do for you?

By · Monday, July 21st, 2014

Is fear, uncertainty or doubt keeping you from having a better life?  Do you know or think about how much you may be leaving on the table?  Your company keeps the money that you leave on the table because you fear asking or don’t know how to pick up the extra cash.

Do you realize that if you receive only $20 more per day that it equates to $5,000 more per year in extra pay?  And that $5,000 more per year is just $2.50 per hour in added pay. Multiply that by 40 hours in a week and that comes out to a mere $100 per week extra.  Not enough to cause any boss to blink.  Yet that can mean a significant change in your life.  How would $5,000 extra per year impact your life…year after year?

How much of a trip would that buy?  Is that a nice down payment on a car?  Now notch that up by just another $20 more per day for a total of $40 extra per day.  That equals $10,000 per year!  How would your life change then?  How many dinners out would that be?  Or how about paying down a loan?  Plus you get this new pay grade every year and not just once this year.

So can you get $10K extra this year?  If you produce measurable added value at work then I say “Yes.”  $5-$10K is chump change for most companies.  I’ve gotten raises for people that were 20, 30 & 40+ percent over what they were last making.  Those percentages often equated to much more than $10K in added income.  The secret is not if you ask, but how you ask that counts.  And being well prepared for the discussion with your boss is critical to your success.

If you can’t justify to your boss how you have earned the raise then your chances for a $5-$10K increase will be diminished.  I help my coaching clients, like you, by pulling the right data points from them so that they can make a compelling case for the raise that they deserve.


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