Ask For a Raise
Asking for a raise in today’s economic climate may sound like a bad idea. But hear us out! If your company has done fairly well lately, there’s no reason why you shouldn’t ask for your efforts and growth within the company to not be compensated. If, sadly, some of your coworkers were let go but you were kept on the team, it means you’re a valued employee, so why not ask for a raise?
Of course, this is a case-by-case basis. Figuring out if now is a good time to ask for a raise should be done by looking at how your company is faring, not how the rest of the world is handling the coronavirus pandemic.
In order to make, say, $500 extra per month, you should get a $3.125 hourly raise for a 40 hour week job.
Work Overtime
Given that the average hourly wage across all industries is $30.01, you would need to work an additional 16.66 hours in order to make $500 per month.
If the previous step didn’t work for you, then you might have to resort to overtime. Only an additional four hours a week will bump your wages up significantly, helping you secure the savings you’ve been meaning to get to for a while now.
You might have better luck if your company had to let go of employees during the pandemic. In that case, it’s very likely that they’re looking for ways to cover the missing work hours or manpower, so now’s your time to shine!
