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Getting a Big Raise May Be Easier Than You Think

Getting a Big Raise May Be Easier Than You Think
From Recruiter - August 18, 2016

Youve been at your company for years, receiving slim 2-3 percent raises after eachannual performance review. You know youre falling behind your peers financially, but youre not sure what to do.

Often, peoplein this situation will recommit themselves to their work. They decide that if they work hard enough and show their boss how great they are, theyll be rewarded in a few more years. Harder work means a higher salary, right?

Unfortunately, this is rarely the case. Unless you are in sales, how much you makehas far less to do with your performance than you might imagine. Once youre hired at a company, you become part of a system. The system typically only offers pay raises during review time, and managers are restricted in how much theyre able to give.

So, what can you do? Some employees threaten to leave. Others argue their value. A few present their bosses with competitive job offers theyve received from other organizations. But threatening to leave or presenting competitive offers is rarely the answer, and companies know this. Even if the company agrees to your demands, theres still a good chance youll leave laterand you may damage the relationship with your company in the process.

If you want to stay at your current organization, your best bet is to make a case for your value during your annual performance review. Even then, however, youre unlikely to get the huge raise youre dreaming of.

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