Finding a Job Is Hard Work
One of the most difficult things to do, I found, is to find a job.
Why do you say that? Granted, if the job you apply for is physical work, you mainly must sell the fact that you will show up and you will work hard.
The part I am referring to has two parts. First, you must sell your skills on paper. Second, you must sell your skill in person. If you are not working, it is even more difficult.
I want to be clear. I said difficult not depressing or self-defeating. It is one of the most hopeful times in your life. Maybe this next job will lead to great things!
The Annual Review
Most companies budget for raises. However, if someone is doing outstanding work, their supervisor or department manager will request a little extra for them.
Hence, most companies have the annual review to justify the raises budgeted or a special increase.
How will you fair in that process? A lot depends on the goals set and what was accomplished. So, work with those goals in mind. Manage your time. Get that raise!
No Raise or Very Little Raise
So, when the time for a raise comes, if you are notified that no raises are available due to poor sales, what will you do?
You should have an idea what your reaction should be with little or no wage increase. Watch the news. Is business down everywhere or just with your company?
Take Your Marbles and Leave
Hold on there! Think twice before storming out the door because your feelings are hurt with little or no raise. There are other factors to consider.
First, health insurance is the biggest concern when changing jobs. How good is your current plan? Any major health problems for you or your family? If you do not have a job to go to, the thirty-day coverage may expire before the next job benefit coverage kicks in. Any extension through COBRA will be a lot more expensive.
Second, the best time to find a job is when you have one. The impression is that you are just unhappy, not inept.
Third, your retirement plan may have a good company match program. That is hard to ignore. Will your next employer have a good retirement plan?
There are several other factors that might make you hesitate. They might include how good your boss is to work with, how profitable the company can potentially be, etc.
A Career of Jobs
A career, if you continue in the same line of work, could span 40 to 50 years.
Sometimes, a company will give you a raise to take on another responsibility that interests you because it has better pay potential.
So, a job does not make a career. You can roughly expect to change jobs every 5 to 8 years. If you stay longer than that, I hope they are helping you keep current with technology and responsibility and pay.
Learn to Earn
Along the way, during your series of jobs that make up your career, remember to set time aside for continuous learning.
As I write these posts to help you build a better mindset for money, I need to remind you often about self-study and self-education. They sound the same. However, I will refer to self-study as keeping current on the world around you—the economy, the government, the local news.
Self-education is continuous improvement in your professional skills and knowledge that will enhance your career job value and pay potential.
Since your value in the job market is based on what you know and experienced, learning is very important to your level of pay. And your income is at the core of your continued efforts to retire well!