Cash The Checks Personal Finance Blog

The 5 Reasons You Aren’t Getting A Raise

getting-a-raise-at-work

You’ve been working at the same job for years, but no promotion, no raise, nothing. Don’t blame it on your boss, don’t blame it on the economy, the only person to blame is yourself. You just may be doing something wrong that’s preventing you from receiving a pay raise.

Here are the top 5 reasons you aren’t getting a raise at work.

1. You Didn’t Ask For One

This may seem like an obvious tip, but you need to ask for a raise to receive on. Unfortunately many people simply do not have the courage to ask for a raise. If you expect your boss to give you a raise out of the blue, dream on. Your employer will only give you a raise if you either ask for it or if they think you’re leaving to another company.

Set up a meeting with your boss to discuss a raise. By setting up an appointment you are going to get their undivided attention.  It also gives you time to come up with a short presentation spelling out your case for a raise.

2. You Seemed Desperate

Remember, the reason you deserve a raise is because you’re a hard worker who is essential to the company – not because you desperately need the money. Bosses will rarely give you more money because of your own personal situation at home. So don’t bother telling them about your unpaid student debt, mounting bills or your pending foreclosure. Frankly it’s none of their business and these excuses only show you’re irresponsible with money.

3. You Don’t Deserve It

In order to receive a pay raise you need to make yourself indispensable around the office. Take on additional projects and do extra tasks around the office that are not assigned to you. You need to make it so that the business could no longer function properly without you. If you were fired and someone could easily replace you – then frankly you do not deserve a raise.

4. You’re Already Overpaid

Before you ask for a raise make sure you are currently being underpaid. Look for the average salary for others in a similar position as yourself on salary.com. If you are grossly underpaid, be sure to mention this during your meeting with your boss. However if you check and your salary already matches or exceeds the average – then that’s probably the reason you’re not getting a raise.

5. Be Realistic

Don’t go in looking for a large raise. This isn’t a case of “Shoot for the moon, even if you miss, you’ll land among the stars”. Don’t shoot for a really high raise or you just might get shot down entirely. The average raise is between 2% and 4% so be realistic with your request.

You also don’t want to ask for an unrealistic raise while the company is struggling financially. Consider the state of the company and the state of the economy at the time.

Have you asked for a raise before? How did it turn out?

Comments

Kevin Watts @ GraduatingFromDebt.com on 10/12/13

Well said! Before asking for a raise we need to be realistic. One of friends is not getting raise for three years. She is very disappointed and heart broken. However, she earns a good salary. Still unhappy about raise.


Donny @ Personal Income on 10/19/13

I think the major reason why most people don’t get a raise because the company feels that they are replaceable and could easily pay someone else a smaller salary.


Simon @ Modest Money on 11/24/13

Point #1, very true. Most people never get the compensation they deserve because they simply don’t ask. Companies are in the business of saving money so they won’t exactly hand you the raise. You have to smartly ask for it and more often you might end up getting it. Companies want to keep you as much as you want the job.


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