MO’ MONEY: How to Get it

The question always is: how do you make money? The follow up question is: how do you make more money?

Step 1: Ask.

 If you take nothing else out of this — just remember— you must ask. It’s amazing what you may get. Asking for a raise, asking for an increase in salary, reminds your boss that you are valuable- and you know it.

Step 2: Figure out what you want.

The key to negotiating: don’t ask for just one thing.

For instance, if you go to your boss and ask for a raise, he/she may say no. But if you go to you boss and ask for a raise, larger bonus, promotion, better work like balance, and a 4-week sabbatical—they may say no to three– but yes to two. This is all part of the art of wage negotiation.

Step 3: Prioritize which of your “asks” is most valuable to you.

You will then be prepared for the negotiations which follow.

Step 4: Put Together You List of “Specifics”

Start with the hard numbers—just how much of an impact you have had? Make this as quantifiable as possible. Follow that with the “softer” things you’ve done to add value.

Step 5: Do Research on Your Options

You have to be confident. And in order to be confident you need facts behind you. What do others in your position make elsewhere? Look at Salary.com to find out. Look at different job postings in your field. Just knowing that there are other options is a big confidence boost.

Step 6: If the Talk Doesn’t Go Well

Don’t panic. There are plenty of other jobs out there. There are also great ways to make money on the side in a prudent way.

Read: Supplemental Sources of Income

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