You have been at your current place of employment for some time and you know you are doing a great job. Even your manager/boss has acknowledged it. Seems like the perfect time to ask for a raise in salary. But sometimes, "Ask and you shall receive" doesn't go quite so smoothly.
With budget limitations or cuts, company rules and regulations, or some other barrier put in place preventing your boss from being able or wanting to grant you your wish, getting a raise isn't always doable. That said, there are other avenues to explore and negotiate that can add value to your bottom line.
More money per paycheck isn't the only way to find the perks and plusses you're seeking. Here are three valuable things you can ask for when a flat-out raise is flatlined.
Travel Reimbursement
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Most of us must commute to work, be it by car or public transportation. Gas isn't cheap, nor are tickets for busses, subways, and trains. Parking fees can add up, as can tolls and car maintenance. And the further you must travel to and from work, the more you'll have to shell out.
As suggested by mindbodygreen, "Calculate the travel expenses you plan to incur each month, and ask for a stipend to help ease this expense. If it means you'll be at work and meetings on time and safely, your company just might build this allowance into your contract." Fast Company adds, "You should at least be reimbursed for mileage you drive on behalf of the company."
While travel reimbursement may not add up to the amount in salary increase you'd hoped for, the savings will add up over time. Plus, there will be another chance to ask for a raise in the future, and now you'll have your travel covered too!
A Flexible Schedule
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A better work-life balance can be as rewarding as a pay raise. A more flexible schedule can provide a relief from stress and the ability to successfully manage your life. According to Forbes, "In a recent survey by Adecco, employees said work-life balance was as valuable to them as their salaries."
Fast Company notes, "Time off and flex time might not seem like a compensation boost, but having the ability to shift your hours or work from home can cut commuting expenses and give you better work/life balance."
Ask your boss if you can avoid traffic by starting the work day later and staying later, or coming in early and leaving before rush hour. Discuss working remotely a few days per week if your job allows for it. Perhaps you can take the night shift or work weekends.
The more you have control over your work schedule, the more satisfied you'll feel. It may not mean more money, but time itself is precious.
A New Title
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"A rose by any other name would smell as sweet," but when it comes to a job title, some come off a lot better than others, in terms of importance and value to the company. Just because you can't get a monetary raise doesn't mean you can't get a boost in business. You may not even gain new responsibilities with this new title, but it can give the impression that you are more seasoned and higher in rank. Plus, if, and when the time comes to seek work someplace else, your more impressive title will jump off your resume.
As per mindbodygreen, "A new title can be just the thing to reflect all of the interesting projects you're working on and to boost your confidence and that of those around you." Harvard Business Review adds, "It's a signal both to the outside world and to your colleagues of what level you are within your organization. Your title can also have a big impact on your day-to-day happiness and engagement."
