Asking for a lot of money
Below is a MRR and PLR article in category Finance -> subcategory Personal Finance.
Asking for a Raise: Dream Big, Believe In Your Worth
Most people dream of financial success, but few achieve it. Often, it's because they don't believe they're worthy of such success, so they never ask for it. This article explores the concept of "a lot" of money and concludes with an inspiring story of a person who increased their salary from $40,000 to $115,000 in just four years.
Defining "A Lot" of Money
The definition of "a lot" of money can be subjective. A billion dollars is undeniably substantial, with only a few billionaires globally. However, while a million dollars might not signify immense wealth in total assets due to real estate appreciation, earning a million annually is exceptional.
The Role of Perception
Personal perception greatly influences potential earnings. The factors affecting earnings?"demonstrable skills and the salary you request?"are deeply personal. Skills rely on confidence and ability, but the salary you negotiate depends mainly on your self-worth.
Many with excellent skills earn less because they don't ask for their true worth. Often, employers are willing to pay more, but they'll happily pay less if you settle for it.
Research and Confidence
Employers won't disclose their maximum salary offer. However, in today's Information Age, salary guidelines are readily available online. The real challenge isn't just requesting a high salary, but believing you deserve it.
Understanding the relative value of money helps. We've acknowledged that billionaires are exceptional and that while accumulating a million dollars over a lifetime is common, earning a million a year is extraordinary. But what about ordinary income levels?
How Much is Considered "A Lot"?
In 2006, the U.S. Department of Health and Human Services set the poverty guideline for a family of four at $20,000. However, the same year, a family of four's median income ranged from $45,867 in New Mexico to $87,412 in New Jersey.
Consider a job candidate in New Jersey with a degree in a moderately demanded field. Accepting a $20,000 salary is unlikely. Expecting $87,412 might seem ambitious, yet it's entirely feasible since it's the median income. Confidence in your worth can justify requesting $90,000 or more. The response from a hiring manager will depend on industry standards and your specific skills.
A Real-Life Success Story
After college, someone I knew earned $40,000 a year. He aimed to reach $50,000. Through hard work and continuous learning, he secured a job offer of $73,000?"a surprising leap. Realizing others in his field earned more, he continued to enhance his skills.
A year later, armed with salary data, he confidently requested a raise and was increased to $89,000, with performance incentives. After three years, he was fielding offers from top companies. One offered $110,000, another $115,000. Preferring the first company, he negotiated his salary to $100,000 during the probationary period, which they accepted.
In just four years, he exceeded his initial goal of $50,000, reaching $115,000. Now, he envisions $200,000 as an attainable target in the future. Why? Because he dared to ask.
Conclusion
Believing in your worth and asking for it can transform your financial trajectory. Whether you're at the start of your career or looking to advance, remember: sometimes all it takes is the audacity to ask.
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