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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:
- Ask for overtime or additional shifts.
- If you haven’t done so, get clear on what you need to achieve to be promoted.
- Challenge your organization’s bonus scheme to discover if you can be awarded more for higher performance.
- 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.
- Negotiate benefits to reduce your costs, such as additional health-care,
- Or other insurance.
- To increase your hourly rate, you could try asking to work less hours in the week for the same salary.
- Request to adjust your working hours so that you can avoid costs (like childcare as above.)
- Ask for more paid vacation days.
- Encourage your employer to negotiate corporate discounts for the local fitness club,
- Or local car parks,
- Or local restaurants,
- Or other local stores that supply expensive large items like white goods (that’s washing machines and fridge-freezers),
- Or vacation packages.
- If your organization provides internal training, then request more training.
- Ask your employer to provide interest-free loans.
- Discover if your employer can offer you subsidized/discounted travel on trains or subway,
- Or even air-fare.
- 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.