Why You Should Focus on Improving Your Salary
Realising that you want and need a salary increase is one thing but going about it is an entirely different ball game. Thoughts can run through your mind of ‘Am I worthy?’, ‘Will my boss think I’m being greedy?’ or ‘What if they say no?’.
The first step to improving your salary is by doing your research to compare your salary to others and to understand if you are being underpaid. We’ve got some great tips in this article on how to go about this. Unfortunately, most employers don’t just hand out pay rises, so you need to do your homework and be prepared to get the result that you want. While you may be afraid of what the outcome will be, spending time working on how to improve your salary is extremely beneficial, especially if you can get what you want. Stop stressing yourself out and get ready for a whole lot of benefits to come your way!
Here is what’s going to happen when you get that salary increase that you deserve:
Your feeling of self-worth will improve
The moment you hear the magic YES word is the moment your self esteem is going to lift, and you are going to feel like a million dollars. You are going to know that you are worthy and that your boss thinks so too. When this happens, you’ll wonder why it took so long to try to get a better salary.
You will want to work harder and smarter
Knowing that you kicked arse in your salary review meeting and was able to convince your employer to increase your salary favourably will give you a renewed energy for your work and responsibilities. Perhaps you were just going through the motions before, but you’ll want to prove to your bosses that they did the right thing and that you are a star employee. Who knows, they might even put you up for a promotion soon!
You will enjoy going to work each day
Most people will know the feeling of dragging themselves out of bed to get ready for a day of work at a job that don’t like or where they feel undervalued. Instead of pushing that snooze button again and again, you’re more likely to have an extra spring in your step as you get ready and make your way to the office or business where you feel appreciated and know you are getting paid what you are worth.
You will be able to save more
If you’ve been trying to save up for a deposit on your first home, a dream holiday or just want to put money aside for a rainy day, you are going to have a much better chance of achieving these goals once you have a salary increase. Getting a raise does not have to mean changing your lifestyle to a more lavish one, you can simply be smart about your money and put the extra income straight into your savings account if you are already living comfortably.
Your home and personal life will improve
Grumbling and moaning about how you just aren’t paid enough for what you do not only affects you, but also the people around you. When you are down, it brings others down so complaining every day about how much you are undervalued is only going to bring negative energy to your relationships. When you get the salary that you want, there will be no more need for moaning about your job and therefore no more negative conversations to be had.
While there are a lot of great benefits to working on getting a raise, if your salary raise request is declined, it’s not the end of the world.
In fact, you can use a rejection to your advantage as three things could happen:
- You will know what you need to do to improve your salary
Having a civilised conversation with your employer about your performance can help you to understand what you can do to improve. If you are told that there are areas in which you need to improve, take this constructive criticism on board and work hard to prove yourself. When you are able to do this consistently for a number of months, you will have a higher chance of obtaining that pay rise at your next salary review meeting.
- You will form career goals
It may be that you are already at the top of the pay scale for your position, but you can learn from your employer how you can make the next step to lead towards a promotion or bigger responsibility within your company. They may suggest additional training or temporarily covering another position while someone is on leave which can both help path the way for a brighter career.
- You may consider talking to a recruiter to find out your options
If there is no sign of a pay rise on the horizon or even the chance of preparing for a promotion, it may be time to meet with a recruiter to discuss your options. A recruiter in your industry will have vast amounts of knowledge around typical salaries for your role and will be able to tell you if you are being paid fairly based on your skills and experience. They may be able to share with you some roles in other companies with higher salaries that they could put you forward for or give some advice about making the next step in your career.
As you can see from the above points, making the steps to improve your salary and obtaining that pay rise that you deserve can only benefit you. If you are successful in getting a raise, your mental health will improve and you going to enjoy going to work each day. On the other hand, if you aren’t able to get a raise right now, you have a chance to take a look at the position you are in and entertain options of moving forward in your career. Don’t forget to check out our latest article on Comparing Your Salary to get some great advice about preparing for a salary negotiation meeting.
Have you successfully asked for a raise? How did you feel after you got it? Would love to hear your answers in the comments below.