The fastest way I have picked up more money in life is to simply ask for it. Sometimes it has been that simple to just ask for a raise.
The answer hasn’t always been yes, but a few times it has been and I’ve never made money faster than asking for it. By not asking you are always guaranteed to not get a raise. By asking for a raise you are starting the path to wealth.
Asking For A Raise is One of the Fastest Ways to Build Wealth
Sometimes we work so hard to earn a little money here and there, but personally, the quickest way to earn more money is to change jobs and/or to ask for more. Why do 100 side jobs for a few hundred bucks when you could simply ask your boss and get an extra $1000 a year and earn $30,000+ over your career from that one simple question? One simple question for $30,000! Find me an easier way to earn money.
How I Asked for a Raise
I haven’t always asked for a raise. I didn’t ask at my first job out of college because I just needed to get going and the first offer was so much higher than anything I earned before that I just said yes.
However, after trying it once and getting a yes I have done it three other times when there was an opportunity. I have received raises three out of four times although one time was delayed I ended up getting it later on so I still count it as successful.
I was terrified the first time I asked for a raise. I had the same feelings when asking a girl out on a date for the first time. But I just knew that I had to do it and if they said no I would be in the same spot, but at least in my mind I would have no regrets. I practiced ahead of time on what to do in several scenarios such as: what if they say no. What do I say if they ask what have I done to deserve it? I go over scenarios just like I do when I go in for a job interview so I feel prepared for any scenario. Fear is a bad reason to not become wealthy.
The First Time I Asked For A Raise
I interviewed for a job and was offered a base salary. They said, “would that work?” That to me was my opening. They didn’t say this is your salary, they asked me if that would work and I said, “I was hoping for more.”
The person who was hiring me said, “well it’s a good offer let me make a call and see what I can do.” A few hours later he called and I was offered $1,000 more. I was so thrilled that I had asked. I instantly increased my earnings. It wasn’t a lot but I just picked up a lot of money in just one simple statement “I was hoping for more.”
Second Time Asking
The next time I asked was starting another job. I was working in a contract situation and after my last success, I wasn’t so shy this time. I said since I was signing a two-year deal I wanted a built-in raise in the second year. The boss said I was the first person to ever ask for a raise and he said yes and we shook on it. The boss left the company a few months later and I ran into a problem.
Get It In Writing
I didn’t have the increase in writing from the last boss. Luckily someone in the department that I worked with became the boss and I sat down with her and explained the situation. She said there was no documentation or notes about the raise, but that she would work on it. When the second year of my contract came around I had my raise. So make sure to get your raise in writing,
Third Time Asking For a Raise
I changed companies again and the first offer I received after interviewing was a pretty good jump, but again the supervisor asked me, “will that work?” So I said, “well I was hoping for a little bit more.” He said he would have to get back to me. A short time later I was offered $2,000 more a year. I was thrilled! (However when I was later promoted to take the boss’s spot I found out that what I was offered and making was the lowest amount of all the employees to start, so there was still more wiggle room.)
Fourth Time Asking – Rejected
The fourth time I asked was when I moved into a management position. The salary change was already significant, well over a 40% increase. My boss said here is the starting salary and I was thrilled, but used my tried and true phrase “I was hoping for more.” My boss countered and said since I was moving into a management position and had no management experience I had to start at the lowest wage. So I was shot down, but I was glad I still asked at the time.
What Are You Worth?
You can’t be shy. Your boss isn’t sitting around waiting for you to ask and is not going to hunt you down and force a raise on you. If you aren’t going to ask then who is? Again if you never ask you guarantee never getting a raise. If you ask you have a chance.
I Like To Give My Employees Raises!
I like to get raises and I like to give out raises. I like to have people think they work for a place that honors and rewards hard smart work. I like people that put themselves out there and ask. That shows me so much as a boss. It doesn’t make me mad, it gets me excited that I have someone willing to ask and go for it. I know that they will be an aggressive and solid employee.
I would say right now 1/3rd of my staff has asked me for raises and I’ve been able to get all of them but one raise, but that one employee will get one soon. We just had a lock on raises for 6 months while we redo all salaries in the company.
Some Bosses Are Just Jerks
I’m not going to sit here and say that every boss has the same attitude about raises as I do. I know some want to squeeze every single penny away from their employees that they can. I don’t understand those types of bosses and companies because you end up paying for it in the long run with turnover and low morale. Some bosses just concentrate on things that don’t matter at work or don’t know what they are doing. Some people are just going to say no all the time to anything.
Don’t Ask If You Don’t Deserve It
Do you work hard? Are you a high performer and in the top 10% of your company? Well then you have put yourself in a great position and you are helping your odds.
We generally have raised around the same time each year for at least a cost of living increase. It is not guaranteed, it’s not an attendance raise, you still have to earn it and high performers receive bigger increases on 2nd and 3rd rounds of raises given by upper management.
Fake Effort for Raises
About two months before raises all of a sudden my low performers start picking up the pace and then would peak just weeks before raises. That is great and all, but I’m not stupid either, and know what is going on.
I look at the whole year as a boss. I’m looking to reward high performers who are consistent, self-starters with good attitudes that force me to give them a raise because they totally deserve it.
What Are You Waiting For?
I love to give raises, it’s not my money so I’d love to give more of it away. I’m not trying to put my company out of business but I firmly believe in rewarding those who work hard and are good at what they do.
So does that sound like you? Hey, next time you have an annual review or promotion or just feel like it’s a good opportunity ask for a raise You owe it to yourself and NO REGRETS!