Just about this time of year, most big companies finish going through their annual review process and it usually closes with a salary adjustment. In the years gone by they were called merit increases or raises. Back in the day before the markets melted down, raises could be anywhere between 5-12% with the average hitting around 7%. For the past few years, 3% is the norm, that’s it. Every year I am grateful to receive a bump if it’s offered as it raises my savings rate by that much more. Sometimes, people just do not feel valued and appreciated by their current boss and the salary adjustment becomes the leverage and motivation to start looking for another job. If you are thinking about different job or different employer, you might also find yourself, your skills and your value in more in demand than you thought. In my previous posts, I shared some tips on preparing for the interview. Since job hunting is not a linear process, (thanks RT), then I get to take my liberties covering the job hunting process in an opportunistic order. I came across a blog recently that goes into great detail about the salary negotiating process. I implore you to take the time to go through this crash course video as it’s going to provide you significant payback. How does a couple thousand bucks sound to you on day one? Perhaps even an extra week or two of paid vacation?
The weekend is coming up so put this on your calendar and take an hour to sharpen your saw. It will give you the confidence to do better just by asking a few more questions.
While you’re at sharpening your saw. How many of you actually read and followed through on
“The Strangest Secret” exercise?