[Thinking] How to raise a salary to the Boss

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Future Value, Scarcity and Substitution Cost

There are three main points of salary increase, Future Value, Scarcity and Substitution Cost, and the effect of the three of them is in this order from high to low:

  1. Future Value

  2. Scarcity

  3. Substitution Cost

Therefore, the core point when raising a salary must be developed around these three points. And try to rely on the point where the effect is good.

  • If you can talk about Future Value, you don’t need to talk about Scarcity,

  • And if you can talk about Scarcity, you don’t need to talk about Substitution Cost.

Common Mistakes

Two common mistakes must be avoid:

  • Regardless of whether it is expressed or implied, as long as you can’t see your greater future value, there is basically no way to increase your salary.

  • Can’t talk about self-centeredness. In principle, the company is not a welfare organization and is not responsible for personal difficulties.

How to do

Finally, gave practical suggestions from the five steps of appointment:

  • Find the good time

  • Make the good opening remarks

  • Talk about company development

  • Talk about personal planning

  • Talk about salary increase