#129: How to Choose: Bonuses vs. Pay Raises

Career Growth Made Easy

How to Choose: Bonuses vs. Pay Raises
Before you go into an interview, it's important to know your worth. If anxiety, uncertainty, or complacency took over, it's possible you may have accepted your current position at a less-than-desirable rate. The question is, how do you move forward? How do you bring up the uncomfortable topic of pay? With today's episode, you'll be armed for that all-important conversation with your boss to ensure you're getting the compensation you deserve. But what's the smarter money move? A pay raise or a bonus? Does it depend on the circumstance, the position, or how long you've been there? Let's break it down and get into the details so you can start making what you deserve.
Don't wait. Listen now to avoid anxiety and prepare yourself for a pay raise!
Chapters
[01:10]
Big shoutout to Gene Tavares for helping us connect with Seminole County Public Schools to bring Career Growth Made Easy knowledge to our future leaders!
[02:55]
Many people have anxiety when it comes to interviews.
[04:32]
The interview starts at the point of your first conversation/interaction, which can be far before you even set foot in the building.
[05:31]
In terms of mental preparation for the day of, some believe the interview can start from the moment you begin your day at home. This helps you build a calm, powerful mindset.
[7:10]
It's important to know your worth before you go into an interview.
[8:31]
Let's talk about the math used to calculate your pay when you work a full-time job. This will help you determine the value of your bonus/pay raise.
[10:35]
You must think long-term when weighing your options. What good does a pay raise do when you're contemplating leaving the company?
[12:13]
If you are paid an hourly wage, this will help you determine how much you make on a yearly basis.
[16:13]
Any time your potential pay raise is less than the current rate of inflation, it helps you break even, not necessarily giving you a financial boost.
Mentioned Links
The Like Switch by Ph.D. Jack Shafer
The Noticer/Watcher Andy Andrews
Ep 51: Powerfully Placed Pauses
Ep 115: Pay Rate vs Pay Range - Maximize Your Money