Confidence Tip: How to get paid more

20/03/2015

There are strategies used by the highest-paid and most successful people anyone can use to get higher rewards for their work.

 

Madeleine Morgan of Growu writes:

So if you’re feeling:

  • You’re underpaid by your employer or your clients or
  • Money’s not important to you but you’re struggling with getting on the housing ladder, providing for your retirement or saving for a few luxuries like holidays

Then this week’s success tips will be valuable to you.

If you use them, you’ll put your life, your career or your business on a financial footing that will give you peace of mind, financial freedom, exciting choices and the ability to give back to your community in even more generous ways.

How can you to get paid more?

10 Top Tips to Get Paid More 

  1. Have you noticed that what you get paid is often influenced by what you think you deserve? An experiment was done where two adverts for the same job were tested. The only difference was the salary on offer. The advert with the lower salary attracted more applications!
    So collect as much evidence as you can to prove to yourself that you are worth paying more. Then you’ll have more confidence to ask for a higher salary or charge higher prices. I remember coaching a person who ran a carpentry business. He was charging customers the same rate he used to get as a jobbing carpenter knocking bits of wood together as he did for his highly skilled craftsmanship. I asked him how long he’d been a carpenter. He said, ‘Ten years.’ Then he realised he was no longer that apprentice who started work 10 years ago but in fact he was a master craftsman and he felt comfortable charging for his skills.

    There are some more ideas below to help you prove to yourself and others that you’re worth it.

  2. Find a problem you find easy to solve that others find difficult. I remember reading about a legal firm that had found a simple way to solve a very difficult area of the law. The firm not only captured the market for clients seeking that expertise but also their clients started to ask them to deal with other legal issues because they’d done a really good job. The firm was able to charge higher fees. Have you got a rare expertise? Look hard because sometimes it’s something you find easy to do so you underestimate the value of your skill.

  3. Look for ways to add value to your clients or your employer. For instance, can you spot ways of working that will get things done in less time and therefore cost less money? Contributing bright ideas makes you more valuable in the eyes of others.

  4. Value your years of experience and training. There’s a story about an engineer who specialised in ship engines. One day a ship in the harbour had a problem with its engine that baffled the engineers. An outside consultant was called in. The consultant examined the engine, tapped in a few places and within 10 minutes the engine sprang to life. The owner was delighted. He had been losing thousands of pounds a day while the ship lay idle. The owner said to the consultant, ‘Send me your invoice.’ The next day the owner was shocked to see a bill for £1000. The owner exclaimed, ‘But you only spent 10 minutes on the job! Send me an itemised bill.’ The next day the owner got a second, itemised, invoice which said, ‘Time spent on the job, £100. Knowing where to tap, £900.’

  5. Which brings me to the next tip. Think about the cost, financial and emotional, of having the problems your clients or employer experiences. For instance, if the problem is lack of sales, are you a great salesperson who brings in far more revenue than it costs to employ you?  There’s a good basis for a higher salary or fees. If you’re not a sales person, there may be other ways you can quantify your value to your customers or employer.

  6. There’s a saying that you don’t get what you deserve, you get what you negotiate. So improve your negotiation skills.

  7. Keep your skills up-to-date.By doing so, your skills will always be valued in the market and that will give you a competitive edge. Invest in soft skills as well as technical and professional skills. For instance, we often get opportunities because of the high quality of the relationships we have with people in our network, so invest in learning more about networking. People who can get things done through other people (managers) are highly-prized when they know how to manage well.

  8. Go to work in a growing industry rather than a dying industry.

  9. Tell people about your achievements so that they know you’re the ‘go to’ person and they clearly see your value. This is more than about telling people what you’ve done. It’s about talking about the impact and benefits of what you’ve done. Keep your LinkedIn profile and your website up to date, for instance.

  10. Ask for more salary or charge higher prices. If you don’t ask, you don’t give people a chance to say, ‘Yes!’

What’s your next step to get paid better for what you do and create your financial freedom?

Special Offers and Dates for Your Diary

  • Free Financial Freedom Coaching Discovery Session
    Is creating a more rewarding career or business a must for you in 2015? Are you frustrated about being undervalued or not having the skill and confidence to earn more?
    If your answer is yes check out these this 121 coaching opportunity. I have 2 Free Coaching Discovery sessions left to give away in March.During that 60 minute session, we’ll:
    • discuss where you are with your career or business and any financial challenges you face
    • uncover hidden barriers to your success.
    • get clear about the financial freedom and other rewards you’d like to enjoy
    Then I’ll show you how you can bridge that gap. You’ll go away feeling positive, excited and confident about making 2015 your best year yet.
    If you would like to apply for a session, just email me and tell me what days/times would suit you: madeleine@growu.co.uk
  • Accountability Club Business Growth Programme Launching Thursday May 7 March
    Are you frustrated by the slow growth of your business? Is your business experiencing growing pains? Would you like to make more money and have more fun growing your business? Then the Accountability Club Business Growth Programme could be just what your business needs…there are only 5 places left so hurry and grab the opportunity. Click here for more details
  • The Successful Managers’ Toolkit Workshop 16 April 2015
    It’s tough being a team leader, manager or supervisor. During this one-day Successful Managers’ Toolkit workshop, you’ll discover how to overcome the challenges and make your role much easier and rewarding to perform. www.successformanagers.co.uk or email madeleine@growu.co.uk for more details.

Quotes of the Week about Being Paid

  • “You don't get paid for the hour. You get paid for the value you bring to the hour.” Jim Rohn
  • “A salary is a tax employers pay, every four weeks, for putting an employee’s dream on hold.”  Mokokoma Mokhonoana
  • “Reward is not a privilege, reward is justice for work well done” Constance Chuks Friday
  • “I may sometimes be willing to teach for nothing, but if paid at all, I shall never do a man's work for less than a man's pay.” Clara Barton
  • “In the business world, everyone is paid in two coins: cash and experience. Take the experience first; the cash will come later.” Harold S Geneen
  • “Most people work just hard enough not to get fired and get paid just enough money not to quit.” George Carlin
  • “The man who does more than he is paid for will soon be paid for more than he does.” Napoleon Hill
  • “No one lives long enough to learn everything they need to learn starting from scratch. To be successful, we absolutely, positively have to find people who have already paid the price to learn the things that we need to learn to achieve our goals.” Brian Tracy

Useful Links

To read more information, click here.

Growu Coaching and Training

Life, Leadership and Business Coaching for professionals, managers and business owners.

Growu Coaching and Training directory information