Why Your Salary Isn't Growing: 8 Common Reasons

2024 Author: Malcolm Clapton | [email protected]. Last modified: 2023-12-17 03:44

Understand why the money is not getting more, and fix the situation.

1. Are shy about asking for a raise

The company is often more profitable to pay you less, so the initiative in this matter should come from you. Perhaps the bosses are simply not aware that it is time for you to raise your salary. Don't be afraid to talk about it, but do it right: always make a strong case.

How to fix it

Schedule a conversation with your boss at the right time. Make a plan of the conversation, noting all the key points in it so that you don't miss anything.

Be sure to think over the arguments that will justify the increase in your salary. This can be overfulfillment of the plan, empowerment, market situation, and so on. All reasons must be objective, no "it seems to me" and "specialists of my level usually cost more."

Back up your words with facts and figures. Also determine how much more you want to receive, and name a specific amount.

2. Already asked for a raise without giving any weighty arguments

The case when the last time you did not justify the need for a pay rise. To this day, the bosses think that you simply did not deserve it. Therefore, you need to convince the management, and get ready for what will be difficult.

How to fix it

As in the previous case, make a plan and think through the arguments. This time, you have no room for error - all arguments must be concrete and work in your favor.

3. Do not upgrade your qualifications

A specialist who does not develop cannot qualify for a salary increase. In most industries, the specifics of work change very quickly, you must constantly remain in the subject.

How to fix it

Take refresher courses, attend a seminar, read special literature, and watch instructional videos. It is good if you have confirmation of the knowledge gained, for example, a certificate or a teacher's recommendation.

4. Afraid to expand your area of responsibility

Doing your daily chores well isn't a reason to pay you more. But if you are not afraid to take on new functions, showing your interest in the end result and a willingness to grow, that is another matter.

How to fix it

Close indirect tasks (those in which you are competent, but which are not included in your area of responsibility), independently make decisions and perform managerial functions. The latter will allow you to grow from an ordinary specialist to a manager, and your salary has every chance to increase two or three times.

5. Be silent about the fact that the volume of work has grown

When you applied for a job, everything that you do today was not part of your responsibilities. Feel free to tell the management about it.

How to fix it

Talk to your boss and tell them that you are doing more now. However, this shouldn't sound like a claim. No, you don’t mind working harder, you don’t demand that new tasks be removed from you. You are interested in developing and bringing great benefits to the company, but you want to receive more. There is a direct relationship here, and this should be discussed. A normal leader will understand that it's time to raise your salary.

6. The boss is not aware that you have become more efficient

Sales are growing, customers are happy, the company is getting more money. The bosses are satisfied with this, and they do not always want to delve into why this is happening.

Don't be afraid to say that you, too, influenced this state of affairs. The personal effectiveness of each employee is the key to the success of the company as a whole.

How to fix it

Prepare a report on your work for the last month. So you will clearly present the results to the management (fulfillment of the plan, achievement of KPIs), and the proposal for a salary increase will be quite logical.

7. You have reached the salary ceiling for this position in this company

A situation that requires a radical solution. Conversations with the authorities about raising the salary are powerless here, because the salary has its limit. It is beneficial for you, but not for the company. Remember this.

How to fix it

There are two ways here: change jobs or apply for a promotion in the same organization. If you chose the former, write a resume, research the market and find the most interesting options. In the second case, talk to the management, describing the situation, and together try to find a new place for you.

8. Your salary is already higher than market

Wanting more in this case is useless, but it would not hurt to descend from heaven to earth. In pursuit of a higher salary, you risk losing the one that you have and that other specialists only dream of. At the same time, you have no guarantee that you will be able to restore your income afterwards.

How to fix it

Demanding more in this company is stupid. But if for some reason you still need to increase income, then look for other markets (for example, consider vacancies in Western organizations).