Raises & Promotions

Negotiating salary can be a scary, intimidating experience. However, if you go in prepared, it doesn't have to be that way - you can confidently negotiate for a salary you deserve. But how?

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Promotions are not guaranteed. In the past, employees used to progress along specific career paths, often within just one organization. However, with the impact of globalization and technology and flatter organizational structures, this has changed. Related: 7 Steps To Power Your Way To A Promotion This Year Today we have to create and manage our own careers. Often the promotion isn’t an upward path either and we may need to take a lateral move first, to later being able to position ourselves for an upward move. To get that promotion, it is important to boost your personal brand and get yourself noticed. Making yourself heard, developing mentoring relationships, practicing effective self-promotion, being a problem solver, acting professionally at all times, being a team player and developing your network are all effective strategies. However, there are also ways you can upskill while in your current job:

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It’s exciting, no doubt about it. Your expertise, hard work, and perseverance paid off. You got the big promotion you were working toward. Then, along with exuberance, reality sets in with a bit of nerves for this new challenge. Now you have to deliver. Related: How To Deal With Getting Promoted Above Your Peers Even though promotions are exhilarating, they can also leave recipients uneasy about the change. Going from a position you had proven yourself in to a position with some inherent uncertainty will put a knot in the most confident stomachs. Oftentimes, the easiest kind of promotion is where you’re promoted into a new environment with a new team to work with. That is like a clean slate. Much harder can be the transition within a business unit. Not to mention, the move from peer to boss can definitely be a minefield. Like it or not, we create an identity at work and many of our co-workers identify us with our role. Change our role or give us more responsibility, and people around us sometimes have difficulty adapting. There are also occasions where the person promoted has difficulty adjusting. Let’s take a look at some of the steps the newly promoted can take to ensure a smooth, effective transition.

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The transition to earning more money in your career can be uncomfortable. It’s not always an easy conversation to ask for a raise, and although studies have found that many people who switch jobs get paid more..there are a host of issues that go along with changing positions as well. Related: The Easiest Way To Earn A Higher Salary In order to help you assess your situation for the best possible salary, I’m going to share three factors that your job must have to maximize your income and success. If your job doesn’t have these, then I’ll also show you a simple, proven way to get one that does.

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You feel you're ready for the next step in your career and more responsibilities – but how do you persuade your manager? Let me share with you a few sure-fire tips to impress your boss and prove you're ready for that promotion. Related: How To Show You Deserve A Promotion

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If your career looks anything like mine, you’ve spent more than your fair share of time watching other people around you get promoted while you stay put. It can feel sometimes like you’re stuck in career quicksand. And, If you’re like me, I’m willing to bet that you occasionally (often?) look around the table during company meetings and scratch your head at some of the people that seem to be rising up the corporate ladder ahead of you. Related: 7 Reasons Why You Lost That Promotion It hurts, I know. For smart, ambitious managers and aspiring executives, there is very little that's more painful than watching your peers jump ahead of you – especially when you’re sure they’re less talented than you are. To make matters worse, major promotions seem to be increasingly scarce these days as our organizational structures get flatter and flatter, which means you have fewer opportunities than ever to make big advances in your career. As managers, we too often fool ourselves into thinking the company will eventually recognize and reward our hard work and reliability, and as a result we adopt overly passive career strategies. We mistakenly assume that people are paying attention to our dependable work and value it enough to promote us. Unfortunately, that’s not the reality of the environment we work in. To actually get ahead in a company these days you need to actively differentiate yourself from your peers. You have to find creative ways to separate yourself from the pack that go well beyond the fundamentals of working hard and being reliable - you have to outplay them to win. Here are three of the most effective strategies for differentiating yourself at work. They aren’t predicated on intelligence or talent or hard work to be successful either. You don’t need a special degree to learn these tactics. You can implement them tomorrow. They worked for me, and I think they can work for you, too.

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The average raise an employee can expect to earn is between 1 - 10% with an average annual increase of 2.5 - 3%. Related: 3 Ways To Get Noticed, Get A Promotion, And Get A RAISE! This is pretty lousy, and doesn’t take into account an employee’s experience, years of service, or market factors such as the average compensation for an employee based on salaries from other companies in the area. Many people bust their butt hoping to earn a raise or a promotion from their existing job only to be told that “there isn’t money available in the budget, but that HR has has kept the request on file.” This is code language for, “We value your work, but we’re not willing to put our money where our mouth is because we foolishly think you’re replaceable, and we’re going to end on a positive note in hopes that you don’t quit and force us to have to hire someone else and pay them more.” The unfortunate reality of raises is that, in most cases, the only way to get a raise is to find a new job. Employers that are looking to hire are motivated to exceed the existing salary of a prospect when they are deficient in a certain sector of their business. In a fit of desperation, they are likely to pay more to secure talent, especially if it means their competitor will be one man down. One of the big problems that people make when switching companies is accepting compensation that’s equal to or lesser than what they previously earned. You should never take a new job and accept the same or less compensation than what you previously earned. This is especially true if you’ve worked at your previous company for 3-5 years and are in a career field that’s in high demand. Just based on the amount of years you worked alone; inflation, demand and other market factors would have guaranteed you deserve an increase in pay. One way you can avoid the guessing game of what you should request at your next job is to do a salary analysis at salary.com, payscale.com and/or glassdoor.com. All of these services offer a free salary analysis and it can make the world of difference in determining your true earning potential. These service are also great, because they take into account your years of experience, title, roles and responsibilities and they also take into account the average reported salaries of others in your field and in your area. Performing a salary analysis can become a powerful weapon when negotiating your salary for a raise at your existing job or a new job because it validates your requested salary based on several factors. The shocking thing that most employees don’t know is that employers conduct these same analysis before even putting up a position for hire. Thanks to the Internet, the employee is now empowered with the same information as the employer. Power to the people! This post was originally published at an earlier date.

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