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ONeal shares key insights on how to navigate this process to help youincrease your income.
Understand Your Market Value
Do not ask for a raise unless you know what you should be paid.
In other words, how much are others in your industry and at your experience level making?
Employers could use the pay scales to determine where the business runs, even if you work elsewhere.
Balance these considerations and be ready to come to a compromise with your employer.
Document Your Achievements
Simply doing your job is not enough to get a raise.
You have to illustrate that you are going beyond the bare minimum.
This may involve talking about what your boss feels is an improvement area for you, as an example.
Use it to demonstrate that you are always improving yourself and providing more value for the company.
ONeal recommended positioning your accomplishments in a way that relates to what the organization was hoping to achieve.
What did you do to guide the business in reaching its goals or to make it more reliable?
Set Realistic Expectations
ONeal advises not to be afraid to ask for a raise, but keep it real.
Overnight, you might not receive double your salary.
There was an average raise in the U.S. of4.6% in 2023.
Knowing the average raise in your industry and state will help you go into the conversation with practical assumptions.
Still, ONeal suggests requesting slightly more than you need because negotiations often end up as a compromise.
But, of course, do not hesitate to assert why you are deserving of a raise.
you might see those two things together, which gives you a hint of the conversation trader.
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