Alternatives To Asking For More Money

We all know that in a rough economic market, it’s tough to ask for more money, but you do have options. Receiving additional benefits doesn’t always have to be cash, and in some cases it can be an even better alternative. We’ve put together a quick list of possible benefits that you can request if you feel like you deserve the extra compensation, but know the employer isn’t able to actually give you a standard raise.

More Vacation Time – This is probably the first one people think of, and it’s a great substitute. Depending on how vital you are to the day-to-day operations of a business, this one could be extremely viable. This doesn’t have to be a bad deal for the business either. The work can build up while you’re gone and can be finished when you return with little effect on the bottom line.

Health Benefits – This isn’t probably what you’re thinking. Most people think this refers to health insurance, but really it’s more of a “lifestyle” benefit. Whether it’s a gym membership, healthier food at work, or a yoga class at the workplace, this is another bargaining chip that can work for both sides. A healthier, more energetic work force is music to an employers ears so this is one of the easiest perks to ask for if you feel like improving your health on your companies dime.

Schedule Flexibility – Being flexible on your schedule doesn’t necessarily mean that you’d work less hours. Maybe there is a time of day, or a day out of the work that you’d rather do your work and haven’t thought to ask. This is largely dependent on your industry and job environment, but for some people there just isn’t a reason why they have to come in early in the morning or leave later at night than they’d like.

Paid Training – Want to earn more money? Get more training or licenses and be qualified to capitalize on things that you may not be monetizing right now. Asking for your employer to pay for additional training is by far the easiest item on this list to request. Employers will very rarely refuse, and it’s nice to show them that you are a driven and focused employee. We highly recommend this option at any time, even if you’ve recently gotten a raise or asked for something else on this list.

Salary Negotiation Mistakes

Pay Raise

Bringing up a contract negotiation can make the most fearless people sweat. While most people have to broach the subject at some point, they also make a good number of mistakes.

One way to make things a little easier is to make sure the new deal works for both sides. The employer and employee should feel good about the situation at the end of the day as to avoid fighting and awkwardness later on. We will try to explain some pitfalls you can try to avoid when going in for a contract negotiation.

#1 – Not Being Prepared

A lot of people go into a bosses office asking for a raise without knowing what they want, and what they are worth. This is the biggest mistake you can make during a negotiation. If you know what you are worth, the employer will see your confidence and understand that if he or she doesn’t give you the raise, you may be smart enough to move elsewhere. Do a lot of research and if you are being underpaid, GET THAT RAISE!

You will also want to practice your talking points before speaking with the boss. Rehearse like you would for an acting part. This may sound silly, but it could make you a lot of money in the end.

#2 – Factor In Everything

When picking a job, or deciding whether to take another job, you really have to look at a lot of factors. Make sure to think about the cost of living, the commute, benefits, and the work environment. Those probably seem obvious, but a lot of people get caught up on the dollar amount. Often times the lower paying job could be the best option either for your wallet or your happiness.

#3 – Be Decisive

Don’t drag things out. When you have to make a decision, make sure you make it quickly. First of all it can put off the employer if you do take the job, and if you don’t take it, it may put them in a bad position. We aren’t advising to rush a decision, but you should be prepared when you go in, and know the terms you want. If they can’t reach it, don’t be afraid to turn them down on the spot.

These are just a couple of tips I have come across that have been helpful in my own life so hopefully they can help you as well. In future articles we will cover these steps in more detail.

4 Simple Solutions To Increase Your Salary

$100 Salary Puzzle

If you want to amplify your salary, follow these 4 simple steps to a
better and higher paid you! These steps are so simple you will be
surprised just how easy it is to maximize your earnings.

1: Choose The Right Industry:

The unemployment rate hit nearly 8.5 percent in March. Knowing what
industry to look for a jobs in is the key to getting employed and
getting paid what you deserve. Here are the 5 hottest jobs right now:

1: Nurse Practitioner
Midcareer salary range: $77,000 to $94,000
According to the Bureau of Labor Statistics, the demand for nurses is
expected to grow by almost 25 percent between 2006 and 2016. Nurse
practitioners are needed most of all because of their more advanced
training and ability to write prescriptions.

2.Science Teacher
Midcareer salary range: $50,000 to $90,00
Education: Bachelor of science and a teacher’s certification
The greatest demand is for qualified science and math teachers, with
special education in a close third. Most men take these spots so women
who have these degrees are sought after.

3. Search Engine Optimization Strategist
Midcareer salary range: $75,000 to $100,000
Education: BS in IT or marketing
To be considered you need to know how web pages are prepared and how
search engines examine those pages to calculate page ranks. You also
need to have a firm grasp of marketing, e-commerce, and how people use
the Web.

4. Commissioning Agent
Midcareer salary range: $65,000 to $130,000
Education: BS in mechanical or electrical engineering
Anything Green right now is big. If you have ideas on how to make new
and old buildings more energy efficient, your idea could have a big
pay off.

5. Financial Restructuring Specialist
Midcareer salary range: $100,000 to $300,000 plus bonus
Education: BA in a field like economics or math
More than a million companies have filed for bankruptcy recently so
its no big surprise that companies and individuals need someone to
restructure their finances. This job requires many hours of work and a
lot of travel, so if that excites you, this job could be for you.

2:  Schooling:

Theres an old saying by Wiliam Butler Yeats “Education is not the
filling of a pail, but the lighting of a fire.”  Your fire is lit when you have an edge
over the next applicant. Applicants who have a Bachelors degree make
an average of 50,000 just starting out. Now append a Masters or a
PH.D, your looking at bigger salaries period. Most employers have a
school reimbursement package which helps pay for portions of school
and books.

3: Get Paid Hourly:

Sometimes getting paid hourly isn’t as bad as it sounds. With hourly
you can make double in overtime and holiday pay. Plus you get paid for
exactly what you work, with salary you have to be careful your not
putting in too many hours and not getting paid for them. Do the math
and figure out if you could be making more getting an hourly wage
instead of a salary.

4: Location, Location, Location:

Where you live has a lot to do with what your salary is going to be.
You want to live in a state where there is a big ratio between highest
wages and the cost of living. New York, Los Angeles, Chicago and D.C.
were rated the highest paid salaried cities in the USA. There is a
surplus of jobs and opportunities and depending how simply and where
you live, you can make a small fortune.

We hope this helps you out.  Here at Salary Calculator, we are dedicated to helping you make more money!

Know When To Share Your Salary

Sharing Salary

You know your best friend more than anyone. You know her favorite
color, her favorite food, her favorite place to shop, but do you know
her salary? She seems like she’s doing ok, she bought those expensive
red heels for the cocktail party last weekend, and when you meet for
coffee she offers to pay, but you secretly wonder how much money she
makes.

Is it a good idea to share your salary? Dick Dauphinais of Strategic
Compensation Partners says the answer is no. Issues arise and
friendships are tested when salaries are discussed. If you know that
your friend makes more, you assume she should pick up the check
because lets face it, she can. Even bigger issues arise when friends
work in the same company and are aware of each other’s salaries. The
work load is mentally shifted for the lesser salaried employee because
they feel that their work load should be lighter since they aren’t
making what the higher salaried employee is. If you know that your
friend makes more than you doing the same labor, do some research.
Find out what other companies are paying their employees with similar
work loads, go to the salary calculator online and investigate how
much you feel you are worth, then follow these simple steps:

  • Go to your boss
  • Set up a meeting
  • Explain how you feel
  • Don’t get defensive
  • Present your research

Whatever the outcome with your boss, decide if your friendship is
worth keeping. If salary is going to get in the way of your next
shopping trip or your going to resent her for buying that new handbag,
keep your coworkers and friends separate.

Understanding Tax Rates

It is important that people know about income tax rates so they can accurately calculate and file their taxes. IRS announced that the 2010 rates will not be very different with the rates that are used during the previous year. This is due to the minimal inflation and the difficult paces the economy is going through during these times. Personal exemption amount and the standard deduction bracket were kept parallel to the 2009 tax rates. IRS came up with decision as they thought about consumer price index (CPI) and the inactive growth that America is currently going through.

You may think that knowing about federal and state income tax rates is difficult, but you’re wrong. Simply knowing about the rates can already get you to compute and estimate your own taxes. You can also identify which bracket is applicable to your situation when you are aware of the rates. State income tax is commonly around 1% to 10%, and different states have different rates. You must be aware that some states also impose city income taxes. Find out if your state implements this policy so you could accurately compute your taxes.

It is foreseen that in 2011, President Barack Obama will modify the tax policies. Bush rates will no longer be used and instead, the rates during 2001 to 2003 will be implemented. This means that top income tax rates is expected to go back at 39.6 percent whereas the 10 percent low bracket will be removed.

tax rates

It is predicted that the tax that will be paid by the people on 2011 will increase the capital gains and dividend rates on that year. Capital gains are expected to increase by 5 percent compared to the previous year. This means that capital gains will go back to 20 percent. You must also remember that your dividend income might be taxed as your ordinary income. Knowing this would help you properly calculate your taxes that are yet to come.

You must keep yourself updated with the rates imposed during the year. Rates change yearly and you would definitely end up with a wrong computation if you use the rates for the previous year. It is also advisable that you track your previous income and taxes so that you can appropriately chalk out the taxes that you will have for the approaching years. Furthermore, don’t forget to inform yourself about the child tax credit and the estate tax rates for more accurate results.

Government sites shows information about income tax rates. You may easily access it online or you may also download it for better accessibility. Some places may also show the rates tables, just be sure that the information from this place is worth-trusting, so that you’ll be sure that you’re using the correct rates for your tax computations.

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