How to Make More Money in Your Job in 2011

If you’ve survived the layoffs and cutbacks that have impacted so many companies recently, 2011 is the year to ask for a raise or a promotion, according to a recent article by CNN/Money.

Many economists believe the U.S. unemployment numbers will start to improve by the end of 2011, but it could still take six years to reach the levels seen before the recession, according to the Congressional Budget Office.

While companies will still be slow to hire new employees, they’ll be more apt to give raises to keep high value employees, and promote from within.

Here are four tips from CNN/Money on how to cash in at work in 2011:

  1. Angle for that promotion – One of the best ways to get a raise is to get a promotion.  On average, you’ll see a 7% increase for a promotion, instead of just a 3% across the board raise for everyone.
  2. Toot your own horn – Keep a portfolio of your best work, along with testimonials and thank-you notes, and bring it with you to your performance review.
  3. Raise your visibility in-house – Make yourself known as an expert or go-to person in your field.
  4. Nurture your network – Keep in contact with associates in your company and  field.  Be willing to help others build their network of contacts and find the job that is right for them.

I think these tips are great, not just when things improve in 2011 (hopefully), but even now. I believe anytime can be a good time to ask for a raise or promotion.  You just need to be able to make the case (and back it up with plenty of evidence) that you consistently add greater value to the company, go above and beyond what is expected, and that they’d be worse off without you.

What’s your take?  Are you going to ask for a raise or promotion this year or next?

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