EPISODE 44 ~ MAKE MORE: How To Ask For A Raise: Make More By Using These Killer Tips To Literally Increase Your Salary

Our featured topic today is our make more segment and today I mean that very literally!  Let’s talk about how to MAKE more money by asking for and getting a raise.  So many of my “make more” topics are side hustles or entrepreneurial ideas, but I also want to give you ways to make more money at your existing job. Getting a raise is the main way, but so many of us get nervous just thinking about approaching our boss for a raise.  Not my guest!  Steve Robbins is a Harvard MBA, a former CEO, an executive coach and host of the “Get it Done Guy” podcast.  And he has promised me killer strategies for asking for a raise.

Talk about the three motivations most bosses have and how to exploit them: power, affiliation and achievement.

The late Harvard psychology professor David McClelland had an easy framework you can use.  McClelland said motivation comes in three flavors: power, affiliation, and achievement. Power People want things to happen their way. Affiliation People want to be popular and liked. And Achievement People want results. We’re all part power, part affiliation, and part achievement.   Interestingly, we are taught that American business is all about achievement; it’s all that matters.   But guess what—people don’t actually behave that way. They’re also driven by power and affiliation. “Working smart” means getting results, but even more, it means satisfying your boss’s needs for power and affiliation as well. 

Do you actually bring up how you’re helping your boss with the 3 motivations when you ask for a raise?

we rarely acknowledge power and affiliation goals out loud. Those goals are considered unprofessional, even though they drive so many of us. So you need to frame your job in terms of achievement goals that will get you paid, while making it clear that you’ll meet your boss’s power and affiliation needs along the way. Trust me—as long as you’re helping a power-oriented boss expand their empire, you’ll be able to find a meeting of the minds about what you need to do to get paid and move ahead.

Notice that I’ve said very little about meeting the organization’s needs. That’s because only an executive who understands the link between their own needs and the organization’s needs will value your attempts to do the right thing for the business. In the final analysis, it isn’t between you and the company; it’s between you and the people who will promote and pay you.

That group consists of more than just your boss. Your boss’s boss and other senior managers may be watching. Your Power boss may report to an Achievement executive. If your efforts are visible to the exec, helping your boss achieve in a way that her boss recognizes might be your best strategy.

Listen to more of Steve’s excellent strategies at EasyMoneyShow.com/44.

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EPISODE 19 ~ MAKE MORE: Raises: Follow These Tips To Increase Your Chances Of Getting A Raise At Work

Time now for our make more segment of the show.

Asking your boss for a raise can definitely be intimidating and I’m going to do an in depth interview with a negotiation strategist at some point.  But, for now, here are eight killer tips that can increase your chances of getting a “yes.”

First, lay the ground work. Improve your standing in the workplace by not only doing your own work, but by helping with other tasks.  In particular, see if you can do any problem-solving for a future role you might want.  Never say “That’s not my job.”

Do PR for yourself. In other words keep track of things like how you helped increase revenue or reduced the time it takes teams to complete projects.  If you receive an award for outstanding work, that’s great.  But even compliments from clients or higher-ups counts.   Compile these and find non-obnoxious ways to make your boss aware of them.

Third, set the stage:  Long before you ask for a raise, ask for feedback on your current position and what they need from you and clearly communicate your goal of moving up in the company.  Talk about the future to show you’re invested.

Fourth: Research average salaries for your position in your area.  If you’re current pay is below average, that’s an opening.  If it’s above, you’ll know you need to add value to get value.

Fifth, practice your pitch. This means out loud, in the mirror, or to someone you trust.  But then, don’t just practice asking for more money.  Also practice responding to various responses your boss may give you and be ready for those.

Sixth: time it right.  Ideally you will ask for a raise soon after you’ve accomplished something noticeably helpful to the company.  You don’t have to wait for your annual review.  Also be sure it’s a day that your boss isn’t under undue stress that could make him or her feel negative in general.

Number 7: It’s about them, not you.  When you make your case, remember that bosses kind of care about you but they really care about what YOU can do for the company.  So don’t talk about how you need the money.  Talk about why you DESERVE the money because of what you are doing for them.

And finally, have a graceful exit strategy.  No, I don’t mean quitting if you don’t get what you want!  Rather, if your boss says no to the raise, ask for SPECIFICS of what you need to do to earn a raise in the future and then ask to reconvene after a set number of months to see how you’re doing and revisit the idea of a raise.

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