20 Alternatives to a Raise

Estimated reading time: 2 mins

Unless you’ve been living on mars for the last 5 years, you’ll know that we’re in a global financial crisis. So asking for a raise, right now, will probably lead to disappointment or even conflict. There are, however, alternatives to a raise you can consider.

Most of us need a raise when the income we take doesn’t cover our expenses (of a modest lifestyle). And sometimes we could be asking for a raise to increase our well-being. Here are 20 things you should look at first, before going in with financial demands:

  1. Ask for overtime or additional shifts.
  2. If you haven’t done so, get clear on what you need to achieve to be promoted.
  3. Challenge your organization’s bonus scheme to discover if you can be awarded more for higher performance.
  4. Request to telecommute (that’s work from home) a couple of days a week, which will save on your travel costs, car parking, possibly childcare and even on small costs like eating out for lunch.
  5. Negotiate benefits to reduce your costs, such as additional health-care,
  6. Child-care,
  7. Or other insurance.
  8. To increase your hourly rate, you could try asking to work less hours in the week for the same salary.
  9. Request to adjust your working hours so that you can avoid costs (like childcare as above.)
  10. Ask for more paid vacation days.
  11. Encourage your employer to negotiate corporate discounts for the local fitness club,
  12. Or local car parks,
  13. Or local restaurants,
  14. Or other local stores that supply expensive large items like white goods (that’s washing machines and fridge-freezers),
  15. Or vacation packages.
  16. If your organization provides internal training, then request more training.
  17. Ask your employer to provide interest-free loans.
  18. Discover if your employer can offer you subsidized/discounted travel on trains or subway,
  19. Or even air-fare.
  20. Request college scholarships for dependents.

If you’re still hell-bent on a raise, then take a look at my post “How To Ask For a Fair Raise or Pay Increase During a Recession“.

Do YOU Know of Other Alternatives?

Then please share it! Leave a comment below.

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