macroLiving

Most workers think that if they do their work well, they deserve to have raises and bonuses heaped upon them. That would be true in a pure meritocracy. But in the real world, the politics of compensation are not that simple. Think about these issues to increase your salary and benefits:

1. The boss’s priorities rule. The biggest raises and plumpest perks go to the people he values the most and doesn’t want to lose. These are the people who make him look good. It’s the informal interaction that the boss takes in all year long that creates an impression of who you are and how you fit into his work.
2. Know what you want. Compensation is more than just salary. So when it comes time for that sit-down, know what you want and have the data to support it. Then think about what is important to you. Do you most want a raise, a better bonus, more stock, or something else?
3. Have a plan B: If the raise you want isn’t going to happen, don’t go away empty-handed. In its stead, ask for more training, a trip to an important conference, or whatever has value for you.
4. Know when to walk away. Many people leaving their company say the desire for better pay is the reason. More than the number of people who say they are staying because they expect a good raise or bonus. Sticking by a company through a short financial squeeze or a few rounds of salary freezes doesn’t make you a pushover if other aspects of the job work for you. But the time can come where you just need more money. Or it becomes clear that the boss is never going to your value to his team. When that happens, it’s not only OK to seek greener pastures; it’s the savvy thing to do.