Friday, May 06, 2011

A 50% Raise

"If you want something, ask for it.  The worst that can happen is the answer is 'no.'"  ~ me

On May 1, 2011, I received a 50% raise.  How did I get it?  The simple answer is that I asked for it.  However, the story is a just a bit more complex than that :-)

First, the raise was not a surprise.  As part of my employment contract, I negotiated 50% raise after 3 months and a 33% raise after 6 months.  The raise was part of the agreed terms in the offer of employment I accepted.

Second, my initial salary was below market rates.   I was willing to start at a lower salary since the organization is a non-profit with a mission for which I have passion.  However, the longer I am employed, the closer I want my salary to be at market rates.  For reference, I am filling the role while the organization is doing a search to hire a permanent employee for the position.

Third, the job is only for a limited time.  So the magnitude of raises do not need to be maintained for an extended period.  For me, the job will end by 2012 or sooner, if a permanent employee is found to fill the position.

For now, I am still enjoying the job, even though I way underestimated the initial work load by about a factor of two.  The 50% raise does help increase my satisfaction and motivation. However, I am still looking forward to returning to retirement at the end of 2011.
For more on Reaping the Rewards, check back every Friday for a new segment.

This is not financial advice. Please consult a professional advisor.

Copyright © 2011 Achievement Catalyst, LLC

1 comment:

Ricardo said...

I agree to this very much. You have to negotiate what you want while offering something extra in return.