If there’s one universal truth, it’s lack of money. Everyone wants to know how to get a pay raise. They’re constantly complaining about not making enough money.
But what if I told you one simple and sure-fire way to put more dollars in your bank account, would you do it?
The secret to making more money is this:
How to get a pay raise – Step #1 – Quit Your Current Job
What!?!! You will scream and yell. How am I supposed to make money if I’m not working?
Good question, genius. Let’s dive deeper.
The trouble with every job is that every employer wants to hire your position for as little money as possible. Granted, they want the job to be done competently but are only willing to pay so much for excellent service.
And once you’ve agreed to work for a set pay, why would your boss want to give you more money? You’ve already determined your needs and lifestyle level. Any extra money after that is icing on the cake. And really, how much icing can a person really eat?
Don’t get me started on raises. If you’re lucky enough to even receive an annual raise, it’s likely in the 2-3% range. That’s absolutely nothing. Inflation averages 3% every year. So that raise you think you’re getting merely equals the cost of living in America – putting gas in your car and a roof over your head – these things get more expensive with time.
If you’re not getting a 3% range every year, you’re losing money. You just got a pay decrease.
Quitting a good idea
So how is quitting your current job a good idea? It’s the only way to get a decent raise. It’s called a lateral raise.
What if you’re making $40,000 a year? That’s not bad, but you’re never going to get much more where you’re at. What if you could get a new job which pays $50,000 a year? That’d be pretty sweet. That’s a 20% raise instantly.
But job jumping is bad and too many jobs on a resume is bad, you say. Who cares? The American job market has changed.
Gone are the jobs you can hang onto for 30 years and get a sweet pension at retirement. The job market has changed to resemble more of the gig economy, with temporary positions galore.
It feels like career suicide to stick around too long at one company. They’re guaranteed to fire you when you least expect it. And there you’ll be with no plans or other experience to rely on.
Pivot now, before they force your hand.
How to get a pay raise – How to find a higher paying job
Maybe you think I’m delusional and higher paying jobs don’t exist. Well you’d be wrong.
Everyone (I mean literally everyone) doesn’t want you to make more money. None of your friends or colleagues want you to make more money. If you succeed, it means they’ve failed. Everyone wants you to stay in a comfy little box.
And again, the businesses out there don’t want to pay you anything either. They’re in collusion to keep pay rates low, now that unions are a thing of the past (though, that’s positive, but on a different level).
I once left a sub-$30k job to get a $10k raise in the tech industry. Before I quit, the HR manager advised me I was making a horrible decision. No I’m not – you just don’t want to pay me.
Finding these jobs is a lot easier than you think. Ask around.
One horrible piece of job-seeking advice is to never ask what the salary is in an interview. And while that’s correct, it’s part of the same system which pays you less.
Think about it – if you don’t honestly know what they pay rate is entering a job, the hiring manager is definitely going to low-ball you. It’s guaranteed. And they should. You’re a moron for accepting that job.
Find out the pay rate before the interview.
Ask around, do a Google search, have an inside source. You must know what to expect. Getting a job is like a middle school dance. It’s awkward, but you need to know what comes next, otherwise you’re going to trip.
If you’re trying to make $50,000 a year (or more) keep your current job until you find what you’re looking for. And don’t take a new job unless it had a pay raise attached. You’ll be glad you did.
How to get a pay raise – Action Steps:
- Quit your current job
- Find a different higher paying job
Have you received a decent pay raise at a job? How do you ask for a higher salary at a new job?