2-3-4 Friday on valuing yourself

‘Seeking to spark the most potential within you per word of any online newsletter’

1 thought

As humans, we don’t like talking about money. Especially with our bosses.

There, I got you.

When was the last time you talked about your pay with your boss?

And if you’re in social work or the public sector, it’s probably worse. You might tell yourself,

I’m not in it for the money.

Okay, maybe you’re not in it for the money.

So I will talk about my experience of this.

I used to think that money didn’t matter.

Until I realised that for the amount of work that I was putting in, I was getting grumpier that there was no corresponding payoff.

You might see a doctor or a lawyer or a programmer being okay with sleeping under the table, but that might be a $120k annual salary. At least they could say after a few years,

Hey I’ve had enough.

But if you were a social worker, and in Singapore, where most start at $44k per year, you couldn’t really say that.

You can’t just walk away.

Not because you don’t want to, but because you can’t.

You ask,

What could I possibly go to?

You don’t have to go anywhere.

Take a deep breath now.

You might just need to ask for more.

Phew.

1 talk

If you don’t value yourself, who will value you?

• Alan Stevens, Speaker

1 tip

How much more, and how?

First determine where you’re at in your finances. If you’ve no idea, start from

1. Open a new spreadsheet
2. Totalling up all your bank accounts
3. Putting together your current liabilities (monthly rent or mortgage payments)
4. Having an estimate of your monthly expenditures (sum up your monthly payments on groceries, personal expenses

This might seem basic, but you would be surprised at how many people don’t even know how much they spend every month.

Go to the Glassdoor review of the authority you work with, and get an idea of what the ranges there are. If it’s not there, then see if there are any official pay scales that local authorities or governments publish.

If there are, set a range. Not a fixed number.

Set the lower end of your range at the upper limit of the payscale given.

Now’s the time for asking.

Gulp.

The most opportune time is during your annual appraisal. You can say,

Seeing my performance this year, I would like to speak about an increment.

You shouldn’t:

1. Ask “Can we speak about a raise?”
   1. Because your boss could just say no. Instead, by stating that you would like to speak about it, you lead the agenda.
2. Leave it to chance.
   1. Ideally, if there’s a meeting agenda to send beforehand, put “salary” on the agenda list.
3. Leave the increase up to your boss.
   1. In negotiations, the one who leads with the number has the upper hand because he anchors one’s value around that number.
   2. But in the case of a salary you’re already receiving, your manager might not know what you are currently receiving. The usual process is that the boss might put the raise request through to HR.
4. Have little evidence to show why you deserve the raise.
   1. If you can, demonstrate the value you’ve provided with clear and concrete numbers, and how that has outperformed the team. If your teammates takes an average of 20 cases, and you clear 30 a month, then you’ve shown significant value add.

Remember, it’s not just about showing that you’ve done well, but that you’ve done better than others.

John

Live Young, Live Well - Work Your Love

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