In this actionable episode of Money on My Mind, I share my step-by-step playbook for securing a raise, drawing from my personal experience of achieving a 17% raise during my time at Deloitte. I tackle common misconceptions about earning more, emphasizing that providing value is far more important than relying on tenure. I break down the critical strategies of gathering market data, tracking your performance metrics, and delivering a confident, compelling pitch.
Whether you're looking to level up in your career or gain insight into employee dynamics, this episode is packed with powerful tools to help you achieve professional growth.
Key Talking Points of the Episode
00:00 Introduction
01:01 Shifting your mindset to understand the difference between time and value
02:48 How you should approach the idea of asking for a raise
04:24 Gathering market data and benchmarking salaries
06:22 Understanding your role's market demand and timing your request
08:12 Exchanging value for money
12:36 The power of tracking performance data to quantify your contributions
15:29 Preparing for the big discussion: How to structure your pitch
16:36 The value of taking the lead
19:26 Presenting yourself confidently to get your raise
20:25 The importance of having a fallback position to strengthen your negotiation
23:55 Framework recap: How to get a raise
Quotables
"Time does not equal more money."
"If you want a raise, you need to show up with facts, data, and confidence—it's not just about asking."
"Leaders naturally rise to the occasion—if you want to earn more, start thinking and acting like one."
Links
Budgetdog
