Earning More in a Tight Economy

In this tough economy, what type of salary increase can I expect?

Answer

We’re moving to an economy where cost of living increases are no longer guaranteed and performance-based compensation is more prevalent.  Don’t expect any annual increase just because.  Instead, focus on your contributions and make a case for why you deserve an increase.  Document what you worked on and the results.  Collect testimonials from departments that benefited from your work and people who collaborated with you.  In researching these items, you will have ammunition to ask for a merit increase or a spot bonus or a promotion or a combination of the above.  In a tough economy, there is less money to go around so it’s that much more important to show that you deserve your share.

Caroline Ceniza-Levine is co-founder of SixFigureStart, a success coaching firm that equips students and professionals with the knowledge and skills needed to launch six-figure careers. Caroline, an expert in career changing, is also a partner at Redseeds Consulting, a recruitment firm specializing in management consulting, and teaches professional development at Columbia University School of International and Public Affairs.

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