How do you earn a raise? Working for minimal money gets old once you gain experience, upgrade your knowledge, and increase your skills. Making more should always be at the top of your mind when progressing. This blog will give you three steps to earn your next raise.

Throughout my working career, I’ve been fortunate enough to earn many raises at many different places of work. This ranged far and wide between jobs in high school to a more professional career where I had a lot of experience and pull.

Earning a raise is great for a few different reasons, including making more money, feeling like you’re more valuable as an employee, and being treated fairly for your work. You likely want to put in more effort when you earn more money.

Almost every raise I’ve ever asked for I’ve received over the past 15 years, and I will tell you exactly how I did it today.

The first key point I want you to note is don’t be afraid to ASK for a raise.

Asking for a raise is fine and, in most cases, totally necessary in getting one. I have made more money over the years by asking than having just been given a raise by the company.

This brings me to step one.

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Step # 1 - Ask for a Raise!

Yes, ask for a raise. What’s the worst they can say? No. That leaves you in the same position you are now, making the same money.

Asking for a raise may seem bold, and it can be. Many people think they are entitled to more money each year; some depend on the company and its policies. But, from my experience, it’s much different.

Whatever wage I negotiate at the beginning of my work term usually sticks around for the coming years. Theoretically, I’m earning less every year because of inflation. As prices increase, the value of money decreases, meaning my income one or two years ago is worth less today.

Asking for a raise is the first step toward getting one. While some companies may do annual overviews and progress reports on their staff, most do not. This makes it very easy for them to pay you the same salary or wage yearly without blinking an eye.

Asking for a raise is necessary to earn more money. I’ve asked for more money directly from the owners of multiple companies and received it almost immediately.

This leads us to step two, why should you receive a raise?

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Step # 2 - Do you Deserve a Raise?

Earning more income is excellent! But are you doing everything necessary to validate, costing more money? This is where you must get honest about yourself and your current situation.

Everyone would love to earn more money to do the same work. That doesn’t mean everyone will get it or is entitled to make more. Ask yourself truthfully if you deserve a raise.

What are you doing that goes above and beyond your current workload? You must understand to be paid more, and you must be creating MORE value for the company. This could be bringing in more leads or sales, driving more traffic to the company, or creating a system that saves the company more money.

Whatever it is, there must be something that you are doing that’s outside of your “job title.” Have you ever heard someone say, “well, that’s not part of my job description” Oh please, if this is something you say, then you are not on a good route to earning more money!

People who do the bare minimum get paid the bare minimum; such is life. If you want to earn more, you must be willing to put in MORE work than you are getting paid for NOW, thus, in turn, creating more VALUE for the company. See where I’m getting with this one?

List why you deserve a raise. What are some things you do that go above and beyond your job description? What are some things you could improve upon? This will help you determine the wage you could get paid.

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Step # 3 - Create your Raise Plan

Don’t just barge into the boss's office on Monday morning after his dog died and ask for him to double your salary by tomorrow, or you’re quitting… This is a recipe for disaster.

Getting a raise is incredible, and earning more money on the job can be gratifying. But, to get a raise in the first place, you must have a plan of action to set you up for success!

This would be doing your homework about why you should be paid more. Don’t go in there and say because John is earning more than me. (This doesn’t work, trust me). Focus on yourself and come up with ideas and ways that you are helping the company grow and expand THEIR vision.

Do some research on what the competitors are paying, and maybe you are being paid 40% less than the industry standard. Dig into all of your training, certifications, and courses that help you do your job to a high level.

Write a small summary of everything you do for the company and why you deserve to earn more. Study the overview and know it by heart. This is fuel for your raise. A critical view on getting a raise is this: try not to be defensive or act like you deserve this raise because you’re great. While that may be the case, you need to prove why you’re helping the COMPANY. What are some ways you do more for them and are helping them grow and achieve their goals? This is the key.

Suppose you go into your boss’s office (on Thursday or Friday afternoon, not Monday morning) and ask for a raise; give him all of the reasons you are going to the next level for the company to be world-class. How you’re earning them more money, creating lasting relationships with their customers for the future, and how could they not be pumped to pay you more?

Think in terms of how you’re benefiting the company first. They will see this as true value.

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Conclusion

Well, there you have it. My three go-to steps to earning a raise once and for all!

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Step 1 - Ask for a raise.

Step 2 - Do you deserve a raise?

Step 3 - Create your raise plan.

If you find out after step two that you aren’t quite ready to earn a raise, keep working at it. Show up early and stay late. Come to the office with a POSITIVE ATTITUDE—one of the biggest tips I can give you. Smile, and be a likeable person.

If everyone likes you and you work hard, they will reward you for it, guaranteed. I’ve always tried my best and given the company more than they require. This ensures when the time comes to a couple of years down the line (which it will), you will have all the proof you need to earn more.

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Chris M Wilson