Why You Need a Raise Instead of a Bonus

Why You Need a Raise Instead of a BonusWhy You Need a Raise Instead of a Bonus From an employer perspective, dreingabees are often preferable to raises because theyre generally a self-limiting cost. A company can give out bonuses when it has a year of strong sales, and halt that practice during a year in which sales drop. Raises , by contrast, are generally riskier, because once workers get a boost, companies are essentially locked into paying them mora for as long as they remain employed. Even if a given business decides not to give raises in future years, that business is leise required to keep up with preexisting salaries. Furthermore, because certain benefits, like 401(k) matching dollars, are often tied directly to salary, increasing set compensation can cost companies in other ways.But while bonuses may be the safer bet for employers, that doesnt necessarily hold true from a workers perspective. And though youre better off getting a bonus this year than recei ving no boost in compensation whatsoever, here are a few reasons you, as an employee, should push for a raise over a bonus.Have you ever been asked, whether during a phone screen or in-person job interview, how much youre earning or earned in a given role? Its a question thats posed all the time*, but when you answer it, youre supposed to simply talk salary, because bonuses dont count. Now, imagine youre planning to apply for a new job next year and currently earn $60,000. If your company decides to boost your salary by $3,000, youll get to tell your next company that youve been earning $63,000. But if your company hands out that $3,000 in the form of a bonus instead, that extra money wont help for the purpose of that conversation.One thing you must understand about salary is that the amount you make today will most likely dictate what youre able to command in the future. If you let yourself remain content with a bonus in the absence of a much-deserved raise , you could end up limiting your earning potential for the remainder of your career.*Editors note Depending on where you live, this question may be illegal - learn more here .Were all told were supposed to save a percentage of our salaries, whether for emergencies or the future. But the so-called rules surrounding bonuses are less clear-cut. After all, if that cash is really extra money, shouldnt you get to use it for fun purposes rather than feel compelled to save it?Now heres the thing If your finances arent great, then the answer is a resounding no. No, you shouldnt blow your bonus money on a fancy gadget or vacation if youre behind on savings. And incidentally, most Americans are. An estimated 57 percent of U.S. adults have less than $1,000 in the bank, while 39 percent have no near-term savings to show for at all.Most of us arent doing too great in terms of retirement savings , either. Households between the ages of 44 to 49 have just $81,347 stashed away for retirement, on average, while those between 50 and 55 have an average savings of $124,831. And while those numbers are far from impressive, whats even worse is that nearly half of U.S. households have no retirement savings at all.All of this boils down to the following If you get a salary boost, youre more likely to use that money responsibly than if it were to come in the form of a bonus. And thats the sort of pressure most working Americans need.When you earn money as a salaried employee, you eventually get used to losing a certain portion of your paycheck to taxes. Bonuses, however, are taxed differently . In most cases, youll lose 25 percent of your bonus right off the bat because that payment will be considered supplemental, and therefore subject to a higher tax rate. But that 25 percent doesnt account for Social Security and Medicare taxes, not to mention state taxes. Therefore, by the time you receive that check, you may come to find that your bonus has been whittled down to something in the ballpark of 60 per cent of its original figure. And while you may receive some of that back when you file your tax return, it means you could end up waiting a year or more to get that missing money.Obviously, if given the choice between a bonus or nothing this year, it would be prudent to opt for the former. But if you have a good relationship with your employer, it pays to make the case for giving out raises instead of bonuses if the option for both isnt on the table. Its a move that could end up paying off not just at present, but many, many years down the line.

11 companies that are WOW employers

11 companies that are WOW employers11 companies that are WOW employersWhen thinking about the best job a person could have, most people always mention 2 things a good remuneration package and personal freedom. But the so-called WOW employers nowadays have one big advantage in the eyes of job seekers giving them the opportunity to work independently from a place theyve chosen because it makes them feel comfortable.Remote working is a trend that has been on the rise for the past 5 years and can make a job much more attractive than any other. Yet, it has one disadvantage no workplace social life. Latest reports show that being happy at work is closely related to the company culture and the environment in the office.Besides fair salary and perks like medical and dental benefits, employees are looking for companies that think outside the box and create an atmosphere that makes them want to spend time in the office and enjoy thesocial life with their co-workers.Employees want a work envir onment that inspires them, encourages fun and helps them to be more productive. So we decided to give you some insights about 11 Companies that are the WOW Employers in the United States today according to the mentioned criteria.Here they areLets be honest everyone wants to be a part of one of these WOW employers So in case you decide to give yourself a try to change your career and apply for a position in one of them use to build a resume that will meet the highest recruiters requirements.

How to assert yourself when youre dismissed

How to assert yourself when youre dismissedHow to assert yourself when youre dismissedHave you ever sat in a meeting and felt ignored or utterly unimportant? Perhaps you offered up an idea thatsomeone else seized upon. Maybe you inserted yourself into the conversation but no one gave you their eye contact or their attention. Whether youre the youngest in the room or the one from a department no one respects (or youre just not getting your due for unknown reasons), you can lean on these four strategies to re-assert yourself.Get back in thereIf youre getting jangled by rude or demeaning dynamics, resist the urge to disengage from the conversation and be silenced. Frame a relevant idea in your mind and then build off someone elses idea starting with, Yes, and Barbara Pachtera business etiquette expert and author, even advocates for strategically interrupting when youre being talked over. Said Pachter, In some situations, if you dont interrupt, you wont get to speak. The easiest way to interrupt is when the other person takes a breath. You then speak up quickly, acknowledge what the person said, and add your thoughts.Lean on powerful evidenceIt was author and journalistChristopher Hitchenswho once said, That which can be asserted without evidence, can be dismissed without evidence. Since knowledge is power, ask yourself how prepared you are for your typical meeting and how you introduce your ideas. If your idea isnt getting the attention it deserves, tell your colleagues what competitive analysis, industry news or relevant and meaningful statistics youre relying on. Then frame your ideas leading with your evidence, The industry forces show , The statistics reveal , Our company has historically Call out the dismissive behaviorAmi B. Kaplan, LCSW, a New York City psychotherapist,recommends asserting yourselffirst and foremost by identifying and articulating the demeaning behavior you observe. Kaplan recommends saying, That sounds dismissive or Youre being dismissiv e, or Its not OK to just dismiss my point of view. Building on Kaplans counsel, I have also seen people quiet the room and take back the platform with a firm I wasnt finished. The best thing about this technique is that raises awareness about a persons behavior and gives them a chance to correct it. Believe it or not, not all dismissive behavior is pointed or intentional.Respect your rsumWhen I interviewed the formidable Barbara Krumsiek, CEO ofCalvert Investmentsfor my bookPUSHBACK, she urged women to lean more often on their knowledge and experience. Said Krumsiek, I think its important for women to respect their resumes. I will try to weave into a conversation that I have math degrees or that I served on a national development team, for example. Relate an anecdote that demonstrates your competence. Next time youre dismissed or challenged, try asserting what experience or training backs up your point. You might say, Having worked for two of our competitors, Ive seen multiple atte mpts at the same product were launching. The top lesson I learned was For most of us, its not a question of if well be dismissed or disregarded at some point, its when. Thats just life. When it happens, how will you handle it?Tell me about a time you came back strong after being overlooked orsnubbed. What would you advise others to do? What should they avoid?This article appeared on BeLeaderly.com.