Ask for nothing —> get nothing

Have you ever heard someone say, “The best way to get paid more is to get a new Can't view this email properly? [View in Browser]() {NAME}, Have you ever heard someone say, “The best way to get paid more is to get a new job”? Well, it’s true. - In January 2023, the Federal Reserve Bank of Atlanta found that people who stayed at their jobs got an average raise of 5.4%. Those who switched jobs landed [an average salary increase of 7.3%](). - ADP reports that people who stayed at their jobs in 2023 earned an average of 5.7% more than last year, while [people who switched jobs earned up to 8.4% more](). If the best way to get a big pay bump is to get a new job… …then what’s it costing you to stay at the same company, year after year? Let’s say you get yearly raises that match inflation ([most raises don’t]()). You still could be getting left behind if your position’s salary band rises with new hires. Think about your opportunity cost this way: If you got a $5,000 raise at your current job, you could invest that into a retirement account like an [IRA]() or [401(k)](). After 40 years, that $5,000 would turn into an extra $1.3 MILLION thanks to the magic of compound interest. graph The power of one raise. Asking for a raise can be nerve-wracking. Approaching your manager to have the Compensation Conversation can feel a lot like getting one of those texts that says, “We need to talk.” But it’s part of your boss’s job to have these conversations. So instead of thinking of this conversation as something that your future rides on—AKA a risk—or a conflict between you and your boss, think of it as an opportunity. Prepare for these raise-killing phrases In “down” economies, there’s a sense that you should be grateful just to have a job. Your manager will probably echo this sentiment during your conversation. They might even say things like… Times are tough.It’s a hard market out there. And if they’re really playing hardball? You’re welcome to look elsewhere. Don’t let those phrases scare you. Your manager knows how expensive it would be to replace you. Even if you’re at a junior level or angling for a promotion, it can easily take weeks—months, even!—to find, interview, and hire your replacement. And that’s not counting onboarding time. Or the time it’ll take a new hire to catch up to your level of proficiency. All of that costs money. And managers HATE spending money. You can set yourself up for success by preparing fact-based arguments in your favor, then delivering them confidently. [Use my Briefcase Technique]() to put together an impressive (and convincing) argument. Let me assure you, your manager is also prepping for this conversation. And if you ever lose your nerve, remember: this conversation could be worth a million dollars or more. These IWT students asked for what they wanted and got it [Calie Grey]() [D'angelo Woods]() When you ask for nothing, you get nothing. $5,000 may not break your boss’s budget, but it could give you the freedom to live your Rich Life. [Use the Briefcase Technique I shared yesterday]() to negotiate the raise you deserve. [Signature] [Programs]() [Podcast]() [Netflix show]() [Books]() [Website]() [IG]() [in]() [X]() [YT]() Was this forwarded to you? [Sign up here](). [Unsubscribe here](. 548 Market St #89946 San Francisco, CA 94104-5401