June 15, 2010, 6:23 am

Sometimes, Not Asking for a Raise is the Best Strategy to Get One

by: The Financial Blogger    Category: Career
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June is a very special month at the bank. First of all, this is the point in time when you can determine if your year will be decent or if you will have to re-jig your winter vacation due to a lack of bonus ;-). Then, it is also the time where you can request an advance on your bonus (which is very appreciated in my case!). It is also very special as it the moment of the year where we receive our (potential) salary increase.

While a normal raise in the banking industry is usually around the inflation rate (you usually expect to get about 2 to 4%), I have managed to get 3 income raises last year. I finished my MBA and ended the year top 4 of 87 financial planners for the bank in Montreal. Those 2 milestones were important enough to generate additional cash in my pocket ;-). But don’t think I didn’t have to fight for it. I had prepared a complete file to prove my point and had to be patient to get what I wanted.

So, here is why I am not asking for anything this year

Say what? This eager young Gen Y TFB won’t ask for anything? Does this even make sense? I actually think that this is the best strategy to get a raise this year ;-). I fought so much last year that I thought of giving my boss a break. You know why? Here’s why:

Employers don’t like employees that always complaint

Regardless if you are right or wrong, complaining and fighting with the firm is not always a good option. I recently wrote an article about what is a good attitude at work over at Green Panda Treehouse. When you stand up and ask for more, you show character. If you never sit down and always ask for more, you show that you are only it in for the money. Employers don’t like that ;-). On top of that, since I work for a bank, it’s not like I am lacking of money so I have to do an online cash advance every 2 weeks!

The pressure is now coming from my numbers

The best weapons I have this year to get a raise are:

#1 Silence

#2 Being at 300% of my objective.

My boss loves the fact that I am producing so much revenue for the branch. She loves that I am always willing to help and that I am continuously bringing in the numbers. My boss also knows that I am interested in moving to a downtown branch since they have an additional bonus for being “in the middle of the action”.

Since I have heard that 2 positions might be available in the next 6 months, I know that my manager will do everything to keep me at this branch. And you know what, I’d be very happy if it works!

I love where I work because I am having fun working. And having fun working is probably the most important thing! Making more money while having fun working could be defined as paradise ;-).

So, sometimes, you need to stand up and fight for your right (to partyyy!). But there are other times where you are better off not asking for anything. Your manager will appreciate it and you will show commitment to the company. This will definitely play in your favour at one point or another during your career!

This post was sponsored by Online Cash Advance

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What would determine if you went for an aggressive approach as you have promoted in the past or a more passive one like this time?

Don’t you think that not asking for a raise will end up costing you in the long term? I’m pretty sure that on average they give less to those who never ask

This works, especially when you show great productivity and your boss notices it, subsequently giving you a raise. However, if you do not speak up, sometimes you may never even get noticed for the work you do.

I’d say that it is a matter of timing. When you have a great year (like I had last year) or when you think that people in your position has a higher income but you deliver more (I’m not talking about perception but facts 😉 )., it is the time to become more aggressive in your demand. Once you get what you have been asking for, it is the time to calm down ;-).

Never asking for more is stupid. You are right, those people will get a lower salary over the long term. However, always asking for more will categorize you in the “annoying employees” section. You don’t want to be part of them 😉

@ Sensei,
Another trick in this situation is to bring up your good moves to your boss without talking about raise or promotion. Just letting him know how good you are for the company can pay back and you would not have to ask for anything 😉

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I’m very cynical about this approach. Let us know how it works for you 🙂

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