The $1 Million Career Mistake

The $1 Million Career Mistake

According to a new survey by, most of us are filing "ask for a raise" into the same mental recesses as "exercise more" and "take a daily multivitamin." That is, we know we should ... but we don't.

The survey, reported in MarketWatch, found that only 41% of employees are straight-up requesting more money, though 84% of employers expect that their employees will ask. Which means that employers are prepared to shell out more bucks, if only their employees would pull the trigger.


Get started with a free financial assessment.

The problem is simple: If we don't ask, we won't receive.

Many of us stay silent because we worry about incurring the wrath of our employers, or even worse, being let go for our audacity. But we may be over-thinking things: The same survey found no employer that had ever fired (or demoted) an employee over a simple salary ask.

RELATED: The 10 Reasons You're Not Getting a Raise

You might not think that small raises add up, but they do—in a big way. In fact, also conducted a study that determined that at the end of a 45-year career, asking for a 4% raise every three years from a starting salary of $50,000 instead of accepting a 1% raise every year with a starting salary of $45,000 will leave you over a million dollars richer by the time you bow out.

So go ahead, ask. And (hopefully) receive.


Financial planning made simple.

Get your free financial assessment.

Related Tags

Get the latest in your inbox.

Subscription failed!

You're Now Subscribed!