The 10-for-1 Rule for Getting Above-Average Raises

If you want to get a raise that's $1,000 more than ordinary, you're going to have to be a major contributor to an idea that will generate at least $10,000 in additional net profits for your company. It's what I call "the 10-for-1 rule." It means that if you want to increase your current income by, say, $25,000, you re going to have to find a way to increase business profits by abut a quarter of a million dollars. And that's not just $250,000 once. It's $250,000 this year and next year and every year thereafter that you expect to maintain that much-higher-than-average salary.

In general, you'll have the best chance of having that kind of impact on your company's bottom line if you are working in one of several key, profit-generating areas: sales, marketing, product creation, and profit management.

Yes, some engineers, attorneys, and corporate administrators earn $150,000 or more. But in companies where such functionaries earn big money, the marketers, salespeople, and profit-center managers are earning $250,000 to $500,000 - sometimes more!

I'm not saying you should abandon your trade if you've been trained as a computer analyst, engineer, or accountant. I'm just saying that if you want to make a super-high income, you have to become a super-significant contributor to your company's bottom line. And that means you have to figure out a way to become an influential force in product creation, marketing, sales, or profit management.

About Author :

Michael Masterson has developed a loyal following through his writings in Early to Rise , an e-newsletter published by Agora, Inc. that mentors more than 160,000 success-oriented individuals to help them achieve their financial goals.

Masterson has been making money for himself and others for almost four decades. At one time or another, he has owned and managed multi-million dollar companies

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