5 Questions You Must Answer If You Want A Pay Raise

I get asked a lot about how to get pay raises or increase someone’s personal wealth.  Upon receiving the question, I often refer them to the post below by Joe Sangl.

Joe runs a ministry called I Was Broke.Now I’m Not.which helps the people in your church win with their personal finances.  Churches which utilize this ministry are seeing an increase in their annual giving of 10-29%.  That is more money for ministry and life change.  Click here to check out his amazing ministry.

Also, if you are a business leader and looking to improve your personal finances, click the image above or here to purchase his book Oxen.  It is the perfect Christmas gift for any business leader you may know.  Now onto Joe’s thoughts.

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I love listening to Dave Ramsey on the radio. He’s a JosephSangl.com Financial Hero. I remember a specific conversation he held with a caller who felt they “deserved” a pay raise. When asked why they felt they deserved increased compensation, the caller could not effectively answer the question. They felt an answer of “I deserve it” should be sufficient. Dave responded with this great statement:

“Your pay raise is effective when you are.”

In other words, when you value to your organization and help them generate more revenue or more profit, you will be in position to receive more revenue.

• If you help your company reduce warranty claims, you reduce their operating costs – which leads to more profit.
• If you sell more products at excellent margins, you yield more profit.
• If you are a manufacturing line worker and reduce a specific defect by 50%, you help the company reduce re-work expenses – which leads to more profit.
• If you are a hair stylist and your work is so good that 95% of your business is repeat/regular customers, you’ve demonstrated the ability to secure profit.
• If you identify a way for your company to increase its business in another field, you’ve added tremendous value to that company.

It is the individual who shows up to work every single day knowing their work is essential to the company’s success that helps the company become wildly effective. And money tends to flow toward wildly effective and innovate people.

5 Questions You Must Answer If You Want A Pay Raise:

1. How do you add value to your organization?
2. Can you monetize that value?
3. If so, how much value do you bring?
4. How can you add more value to your organization?
5. What idea(s) would help increase revenue and profitability?

This post is part of a Leadership Series here at the wildly popular JosephSangl.com. Click HERE to read more posts in the series.

About Joseph Sangl: Joseph Sangl is the founder of I Was Broke. Now I’m Not., a financial organization dedicated to equipping people to accomplish far more than they ever thought possible with their money. He is the author of several books including I Was Broke. Now I’m Not., Oxen: The Key to an Abundant Harvest, and What Everyone Should Know About Money Before They Enter The Real World.