Have you just asked for a pay raise only to get turned down? It sure doesn’t feel right to have your request rejected if you’ve been working hard for it during the last months or even years.
If you like your job, it doesn’t make sense to turn your back on your employer.
In fact, you will gain much more by understanding their reasons for not giving you a raise. That will open the door for you to negotiate a solution that will work for you and your boss.
For example, consider that many reasons may have contributed to the decision of your employer.
Some of these reasons might be company-specific and entirely out of your control. But just because your initial request for a pay raise was turned down, it doesn’t mean you should lose all hope and give up on your mission to get more out of your job.
Here are 6 things you should do when your boss refuses to give you a pay raise.
1) Don’t even think about giving up
If you’re happy at your job and believe that you deserve a raise, your first step can be asking the right person what to do in order to it. Perhaps you would need to set and complete a range of objectives or increase your revenue?
Leaving the meeting with a firm idea of what you need to do to get a raise will give you a sense of purpose.
It will also show you that you’re in control of your status at the company and may aspire to higher pay and positions if you match specific demands. And remember to book a follow-up meeting to discuss your raise in three or six month’s time.
2) Don’t be discouraged from asking again in the future
Asking for a pay raise is in itself a sign that you are an ambitious professional.
Employees who never ask for a raise are considered by employers to be people who are perfectly happy in their current situation and don’t need anything more.
By opening up the discussion about your remuneration together with your progress in the company, you will get yourself recognized as someone who holds specific professional goals and can work hard to reach them.
That type of conversation might lead you to future promotion opportunities as well.
3) Remember that it’s not all about the money
Sure, you’re reading this post because you are looking to get a raise, but don’t forget that your job isn’t all about the money. In fact, if your company is not in the financial condition to offer you more money, you should be flexible and negotiate with your boss.
What is important to you that is related to finances? Consider asking for that when your request for a pay raise is turned down.
There are plenty of ways you can increase compensation without asking your employer for a raise.
Consider employee perks such as reimbursement for your cell phone bill or petrol.
Perhaps your employer can provide you with a company car, a wellness benefit, or daycare stipends?
You should also ask for the possibility of taking extra time off to make up for not getting it a pay raise.
Decide what is important to you and be a little creative. Meeting your employer halfway is much more beneficial than leaving with nothing.
4) Make yourself valuable
It’s essential that you learn the reason why you aren’t getting a pay raise. That way, you can work harder at making yourself more valuable and contribute more to the company to change your employer’s mind.
Consider taking on more responsibilities or learning new skills. You should also find new ways for improving the bottom line and discuss them with your boss.
Increasing the productivity of your team or bringing in more income to the company are unbeatable arguments.
All that will make you more valuable, and once you ask for a raise again, your employer will never be able to say no because they are aware that another office will snatch you up instantly. And everyone knows that it’s much easier to retain skilled employees rather than train new ones.
5) Consider making a raise on your own
If you’ve tried all ways to get a raise, and you still can’t reach your financial goal, but you also feel comfortable at your job, that point is for you.
There are thousands of side hustles you can try to earn extra money. For example, you can share your expertise in freelance writing, participate in focus research groups, or start a blog.
Take advantage of skills that you already have and transform them into money-making side jobs you can complete in your spare time. Who knows, your side hustles might expand your professional network and land you some new opportunities – including going freelance or switching into a consultancy that both offer more financial independence.
The best way to find a side hustle is first to identify something that you’re good at and what you can get paid for. Make sure that your side hustle doesn’t violate any nondisclosure agreements or non-compete clauses in your contract.
6) Here is when you should walk away from your job
If you feel stagnant at your job and want to earn more money, perhaps it’s time to look for other opportunities if your request for a pay raise is rejected.
Today’s workforce is utterly different than it used to be a mere decade ago. A typical professional will go through jobs every four years.
Even if you’re not planning to leave your job, keep your eyes open for new opportunities that might bring you more money, increase your job satisfaction, or reward you with amazing benefits.
Never quit your day job without having a backup plan in place, but don’t be afraid to leave your position if you see that you can do better somewhere else.
Use these 6 tips to boost your chances of getting the pay raise you deserve and taking full control of your professional life, so it brings you the most satisfaction and joy.