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What 50% of People Don’t Know About Getting A Raise

How to Get A Raise

Posted on December 23, 2019 by Camp Systems

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Half of American’s didn’t get paid more in 2019, according to Bankrate. If you want to be in the other 50%, the most likely way for you to get a raise, advancement, or whatever you want is by creating your own negotiation plan.

This means you have to find someone who has the authority to give you what you want (the decision-maker). Then, solve their biggest problems (their pain), while not exceeding the amount of time, energy, money, and emotion (the budget) that both of you are willing to invest to solve the problem.

Your negotiation approach is to help them get what they want, in return for a portion of the new gains AFTER they have been realized. Not before. 

The Camp approach takes some time. It involves a lot more thinking and work on your part than walking into an office and giving a list of reasons why you should get more. (This makes you appear needy, and your ability to negotiate decreases.)

With our approach, the bigger the problem you figure out how to solve, the bigger the reward you can negotiate.   

To get started, you have to think about your current situation.

Do you enjoy your job? This includes the work you do, as well as the work environment and the people around you. People often like their job when their work and performance are appreciated. Is your boss thankful?

If you hate your job, then no amount of moolah will make you happy in the long term. In this case, you should consider finding a different job in that company or quitting and finding a new place of employment.

Finding a New Job In Your Company

If you don’t like what you do, then determine what would help the company, of course, in an area that interests you. 

If you need some training in this new area, first ask if there is company-provided training. If not, find training on your own and ask if the company will pay for it or at least contribute to your training.

If the company will not contribute, then consider investing in yourself to learn some new skills. The upside is that once you have new knowledge, it stays with you and you can apply it anywhere. 

Then, you prepare a plan that utilizes your new skills and solves your company’s most important problem in your new area of expertise.  

(Look at the section “Negotiating for more at your current job”.)

Quitting Your Job

More often than not, your income is necessary and you can’t leave a job without finding a new one first. In this case, you have to make adjustments where you are working.

Determine what your boss considers the most important thing they want you to do and just focus on doing that well. 

Create some free time for yourself by not doing things that are not important to your boss/company. This means stop doing things that you think are important, but make no difference to your boss.

With your newly found time, make a plan to get a new job.

Negotiating for More At Your Current Job

If you enjoy your job and feel you deserve more compensation, you should:

Think about the company’s biggest problems/opportunities, of course, that are within your current area of responsibility. 

Ask for a meeting with your boss to first confirm that you have the best opportunities identified, and then offer to shift your focus and time to help solve these problems. 

Once your boss agrees that this is a good use of your time because it is a big help to the company, tell them that you’ll put together a plan to do this work.

When you finish your plan that quantifies the expected benefits to the company and your boss, ask for a meeting with your boss to share your plan. 

You can offer to implement this plan and ask your boss if they can commit to giving you a raise, promotion, or whatever you want, once the company starts seeing the benefits associated with solving this important problem. 

With this salary negotiation, you are only asking for a share of the potential new revenue or cost savings associated with your project. It’s easier for your boss to give you a piece of a bigger pie than to pay you from a fixed budget.

This is also a great approach to use when an employee asks you for a raise. It avoids grief and jealousy from the employees that weren’t bold enough to knock on your door, and sets a higher bar for those expecting more money.

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