Friday, March 11, 2016

How to boost up your Salary effectively

Are you a victim of Low salary? According to research, In India, IT sector provide the most paying jobs, but then also 57% employer are not satisfied from their salary. So if you are also from the same group then you need to read out this post.

Here our few ways on which you can work upon to boost up your salary:

  1. Prove yourself to be worth hike: Annual performance appraisals are on the way out and continuous feedback is in and the way to shine in such a situation is to keep updating the list of your achievements. And when the appraisal meeting happens, carry the list, and ensure you're considered for a good raise.

  2. Know your worth: Do you feel you are being underpaid? Do you think people in the same profile in other companies are being paid more? Do you research and put a value on your skills. This will help you seek a raise.

  3. Be indispensable: All companies have people they cannot do without, and we are not talking about the top executives. Even team leaders and an average employee can be indispensable, because no one else can deliver work the way they do.

  4. Be a network Influencer: Being a good influencer is an investment that ensures good ROI. Interact with everybody in office, that also means everybody in office knows you. it is highly unlikely that you will be given a raw deal in the appraisals.

  5. Get Exposure: Do such works that will expose you in your company and the upper managements will also come to know about you. Do something different for the company, that others at same position are not doing.
    Lets consider, you are in Web development, then apart from the development, build some test cases, report bugs in your and others project as well, although testing team would be there for this.

  6. Get more Skills / Education: More the skills you have, more are your chances of a salary hike. If you were hired because of lets say 5 skills then try to make it 10 within a year. You can get some certifications as well, both in terms of education (like MBA or any related one) and skills (either the technologies that are using or some hot technologies).

  7. Meet the deadlines with Quality product: You should be able to complete your project within the given time frame, with a good quality. With the given deadline, I never mean to say that work for whole night and complete the project. You should be able to complete it while working in office hours only. Deadline and Quality will add too much weight on your appraisals.
  8. Be an Innovator: Its not like that only your product manager is responsible for brining the change. Ideas and Innovations can come in anyone's mind. So if you feel your idea can improve something for the company then don't keep it within yourself, let upper management know about this. This will add value to the business.

  9. Help others: If you think that you are good at anything and you can help your subordinates managing time in between from your work times, then don't resist yourself to help them. It will not only help him, but you as well, in terms of knowledge, your value and hence may be in terms of hike as well.
  10. Don't beg for the salary: If you have followed all of the above points and then also you got a very less hike, It means, company is either not focussing on you or not considering you for that much hike. Don't cry for it, and never beg for a good hike. You have one option, "Job Change".

  11. Job change: Although this is not advised, specially if salary is the concern, but if you feel that your salary is too low to compare with others, and above points are not helping you out, then you need a job change. Raise your skills, get backup and say good bye to the current company.
    This may suit only for early stage employee (1-3 year experience), but the mid ones and the professional ones should not try it.