Success can mean many different things when asking for a raise
posted on January 8, 2018
Despite the recent rise in Ontario’s minimum wage to $14.00 per hour for most positions, you might still be feeling that your particular set of skills make you a prime candidate for a raise.
Asking for a raise can be an intimidating prospect. It is therefore important that you make sure to do the necessary research before going in and making your case. In a recent CBC article, negotiation specialist Fotini Iconomolpolous, suggests that successfully asking for an increase in pay comes down to how well you can negotiate.
Knowing that negotiation is an ongoing process that requires persistence will ensure your success. If you are told no initially, there may still be some room for negotiation so long as you maintain a positive attitude toward the undertaking.
It is important, however, to remain open to the idea that success is not always characterized by an immediate increase in wages. Alternatives might include certain benefits, such as car and phone, or even the opportunity to work from home some of the time. All of these are ways of getting a little more for your time, even if your salary or hourly wage has not increased.
Top up your TFSA in January
The Tax-Free Savings Account (TFSA) is now ten years old. Over those ten years, it has become one of the most popular methods of saving money for short-term goals in Canada. TFSA’s allow you to invest up to $5500 per year into a registered account which allows our investment to grow without having to pay tax. This is different than RRSP’s, which merely allow users to defer the payment of tax until their money is withdrawn. One of the other key features of a TFSA is the fact that you do not need to have earned income in the previous...