There are two major reasons why you should not settle for less pay than you’re worth:
If you are not getting paid enough, you should ask for a raise.I know. This is a scary thought. However, it will never change if you never ask.Most companies in the U.S. give a 2 to 3% raise with each additional year you stay with the company. For most folks, however, this 2 to 3% raise usually does not make a difference in your paycheck when you factor in taxes and other deductions.The way to get around this is to ask for a bigger raise.There are books and videos out there on how you can talk to your boss to negotiate a raise. But I’ll break it down here for you so you have the tools when you go in:
If you were unsuccessful at convincing your boss for a raise for whatever reason, the next thing you can do is to begin to look for new opportunities outside your company.I highly recommend you do this confidentially. Having your colleagues or boss find out you are scoping for a new job has gotten people fired.Therefore, conduct your job search quietly until you land a job before you announce to everyone that you’re leaving.
You know better now.As you enter a new job, it is important that you are clear on what your salary expectations are and to not get talked out of it. You’ve done your research and you know what you’re worth.You also know the value you bring to the company and by this point have demonstrated in your interview at the new job that you are worth every penny. So stick to your guns and get the salary you want from the very beginning.
So perhaps you love your job because it gives you a lot of personal fulfillment even though it doesn’t pay you enough money.In this case, what can you do about the whole can’t-pay-my-bills situation?If you’ve read this blog long enough, you know by now that we are advocates for earning extra income — whether that takes the form of starting a side hustle or earning income passively through investments.The great thing about earning extra income on your own terms is that you don’t have to go in to negotiate a raise with your boss. Additionally, you can make as little or as much as you want. There are no 2 to 3% capped raises to contend with.Check out the posts below if you want to learn more about earning extra income on your own:
In this post, we talked about what to do if your job doesn’t pay you enough money.If you are positive that you bring a lot of value to your company and your research shows that you are underpaid, you have all the permission in the world to do something about it.It is good for your own career and mental health.