Hear ye, hear ye! I’ve teamed up with The Financial Diet to bring you a weekly video series called The 3-Minute Guide. Each week I’ll be digging into a new financial topic from the technical to the more emotional. Last week, I tackled one of the most important skills for a millennial to learn — how to negotiate!
Check out the video to get the four-pronged strategy I used to ask for a raise.
P.S. You should also go subscribe on YouTube so you’ll get alerted each Thursday when there is a new 3-Minute Guide.
One response to “How to Ask for More Money”
You are great on camera! One fifth tactic, and it was the only one I ever used to get 2400% worth of raises in my 9 to 5 career before I retired early was simply getting job offers from competitors and telling my boss exactly who and how much. I was dead honest each time and because I had networked a lot and was becoming well known in my field I got job offers on a monthly basis most of my career. I never had a meeting I’d just say casually, “Can you believe the chemical plant across town (or in the Virgin Islands) offered me 40 % more than I’m making. I’d never take it, that place is pretty screwed up but I was impressed by their pay rates.” I never threatened and always assured him that I wanted and planned on staying but he knew I was giving him the ammunition to use on his boss to get me more money. Also because I told him what, where and how much I had credibility because I knew he could check it out if he wanted to. It never got me matching raises but it always got me bigger ones than everyone else and my bosses never felt like I was inappropriate, I was just passing on facts. I don’t know if recruiters are as active with job offers to millennials as they were back then with me but I found it to be a deadly effective strategy.