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Do you want to increase your salary? Follow these tips and watch your income grow – Forever Young



Do you want to increase your salary?  Follow these tips and watch your income grow - Forever Young

If you are an employee who benefits your company, it’s time to negotiate a pay raise. Take advantage of Adecco Portugal’s in-house experience to learn how to successfully negotiate your next upgrade.

Decide what kind of salary increase you want

Before discussing a promotion with a team leader, find out what you want. If you want more money, decide how much you want. If you want a new rank, keep in mind what works best for your career. If you want more flexibility, choose a viable offering that’s compatible with the business segment you’re in and doesn’t harm productivity or your work | life balance.

Use up-to-date data to find your desired salary increase! Don’t ask for a 5% or 10% raise thinking it’s what you deserve.

How to determine this “magic” number? Follow these steps:

1 – Search among analogues of the average remuneration of specialists with similar positions

The quickest research you can do is to consult with your peers: former training colleagues, professionals you’ve been with at conferences, retraining events, or through social media groups associated with a particular professional industry. You can immediately get information about the average wage that is being practiced.

It’s important to talk about net and gross numbers: gross salary is subject to Social Security and IRS discounts, which vary depending on the amount agreed, so the net salary you receive will always be the amount after applicable taxes have been deducted. . To estimate the net worth of your ideal salary, you can use the Adecco Portugal salary simulator: this is a free online resource that gives you in seconds the final net worth corresponding to the salary you can earn, as well as the value of the discounts to which you are entitled .

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2 – Decide what salary range suits you

Let’s say the fairest average annual salary for your position, experience level and location is between 20k and 30k gross euros per year. Generally speaking, you should aim for the upper end (80-100%) of this range. In this case, this will mean that from 24 to 30 thousand euros will justify the expectations of a salary increase.

The 80-100% rule isn’t difficult. The key to the decision is making sure you settle for less than your range of expectations. In other words, the bottom of your target range is the minimum wage increase you agree to. If, after several trading attempts, the result is still in the lower part of the requested range, are you satisfied? This is a personal decision and should be considered based on your goals and whether the final offer can be negotiated with other benefits that will benefit you.

3 – Decide on the exact amount of salary

Now that you know your target range, it’s time to determine the exact amount you’re going to use to make your initial request for a pay rise and open the door to negotiation. Again, it’s a good idea to start with the highest value.

Because? You must assume that your leaders are going to offer you lower value. If you were immediately granted the proposed increase – Congratulations! However, they will most likely offer a smaller amount, at which point you will have to decide whether to accept the counter offer back.

Trading Tip: Hard numbers (as opposed to round numbers) can give you an advantage in negotiations. This means that you have done detailed and thorough research before trading. So instead of asking for €30,000 a year, you can offer €30,350 a year. Worth a try.

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4 – Prepare a compelling case to justify a pay rise

While the asymmetry between supply and demand in the labor market may work in your favor as a promotion candidate, it is unwise to rely entirely on market conditions.

An essential part of asking for a raise is demonstrating (using clear metrics and/or examples) the value you bring to your company during your time there. Did you develop an in-house solution that saved your company from having to rely on an external supplier? How much did you save the company? Did your recent project increase revenue, increase efficiency, or generate leads? Highlight the fruits of your labor in precise numbers to quantify what you bring to the table. This may not be possible in all cases, but there are always ways to measure the impact that certain initiatives have on an organization.

5 – ASK, but ASK for a raise!

The worst thing that can happen to a well-reasoned request for a raise is to get the answer “No.” Of course, this is not an ideal scenario, but at the very least, if this happens, management will know that you are unhappy with your salary. The company may not have even met the conditions to give you a raise this month, but it will likely be at the front of the line for a raise when the opportunity arises, or offer other types of incentives that demonstrate that they recognize your value. .

Above all, be confident and stay professional. If you see very low offers, never be afraid to offer a counteroffer that seems fair and in line with the company’s capabilities: this is what defines the negotiation.

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At the same time, try not to become so adamant about increasing your target salary that you won’t be able to evaluate a highly competitive offer if you get one. In the end, only you can decide when to agree and when to back down.

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OBSERVATION | Mercadona opens store in Alverca and recruits staff



OBSERVATION |  Mercadona opens store in Alverca and recruits staff

Supermarket company Mercadona is set to open a new store in Alverca do Ribatejo next year and is recruiting 65 full-time and part-time employees.

The company said in a statement that the job offer already reflects the salary update that the company will apply from January 2023, which will see the starting salary of its employees in Portugal at €12,410 per year. Mercadona promises employees a salary increase with an annual increase of 11 percent, which allows them to achieve a monthly salary of 1414 euros gross (including twelfths) for a maximum of 4 years of service. In addition, employees also receive an annual goal-based bonus, which corresponds to an additional salary in the first 4 years and two additional earnings in subsequent years.

“Mercadona continues to focus on job creation and for this reason the new offerings support the drive to build a team focused on excellence and service, highly motivated and aligned with the company’s vision. To this end, in addition to an attractive salary and a permanent contract from day one, Mercadona offers its employees the opportunity to develop within the company.

Mercadona has a differentiated HR policy that focuses on career building, salary growth, equity and internal promotion, “which is one of the main ways to evaluate and create development opportunities.”

Those interested in applying can do so on the Mercadona website under the Jobs section. The company opened its first supermarket on July 2, 2019 in Canidelo, Vila Nova de Gaia and currently has 38 stores in the areas of Porto, Braga, Aveiro, Viana do Castelo, Setubal, Santarem, Viseu and Leiria. In 2021, it achieved sales of 415 million euros and paid 62 million euros in taxes through the Portuguese company Irmãdona Supermercados, based in Vila Nova de Gaia. The year ended with a team of 2,500 employees and an investment in Portugal of 110 million euros. In order to share with the community a part of what it receives, in total Mercadona has already donated 670 tons of basic food in the first half of 2022 through its stores in Portugal.

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“These donations, which are equivalent to more than 11,000 carts, were for more than 30 social canteens, five food banks and other social institutions,” the company explains.

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Another crypto giant falls: BlockFi asks for protection from creditors



Another crypto giant falls: BlockFi asks for protection from creditors

After FTX, it was the turn of crypto lending platform BlockFi to seek creditor protection under Chapter 11 insolvency law in the United States. The lawsuit was filed in a New Jersey court about a month after FTX collapsed.

The company lists more than 100,000 creditors in the documents that started the lawsuit and are cited by various international press outlets. The table features FTX’s second-largest creditor, with $275 million in debt to the platform, which until recently was led by Sam Bankman-Fried.

The list is topped by Ankura Trust, a creditor representation company, with a $729 million loan. BlockFi has already issued a red alert to the market, freezing the withdrawal of assets from the platform.

In July, FTX signed a $400 million credit line agreement with BlockFi with the option to acquire the FTX platform for up to $240 million in the event of default. This came after the collapse of the crypto market in the first half of the year was exacerbated by the collapse of the Terra USD ecosystem and brought the platform to the ground.

The risk of infection remains

The collapse of FTX is starting to infect other “players” in the market. The crisis of confidence experienced during the “collapse” of the Terra USD ecosystem has returned, and several platforms have already frozen the withdrawal of assets. In addition to BlockFi, Genesis, a platform primarily dedicated to crypto lending, has suspended asset buyback operations, citing an “abnormal number of withdrawal requests” for its decision.

Redemption requests made on the platform’s crypto-deposit arm, Genesis Global Capital, have exceeded the company’s liquidity, so the company, along with a team of advisors, is exploring a range of options to try to get back to normal, according to Acting CEO Dear Islim, Bloomberg was quoted as saying. The Gemini Trust, led by the Winklevoss twins, has also decided to freeze the withdrawal of assets from the Gemini Earn program, designed for deposits that earn interest on the “tokens” held. The company guaranteed that this decision would not affect other products or services.

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In turn, the Hong Kong-based platform AXX suspended the withdrawal of assets for ten days this Monday, reporting a lack of liquidity. “If AAX is unable to obtain funding that will allow us to resume operations, we are committed to initiating legal procedures to ensure asset allocation,” the company said in a statement quoted by Bloomberg.

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The protests in China sent Wall Street into the red. Europe falls after Lagarde speech – Markets in a minute



European markets are in the red.  Interest on Portugal's debt hits 2.5% - Markets in a minute

Euribor climbs three, six and 12 months to new highs in nearly 14 years.

Euribor rates rose today to new highs since early 2009 in three, six and 12 months.

The six-month Euribor rate, most used in Portugal for home loans and entering positive territory on June 6, rose today to 2.436% plus 0.062 points, a new high since January 2009.

The six-month average Euribor rose from 1.596% in September to 1.997% in October.

The six-month Euribor has been negative for six years and seven months (from November 6, 2015 to June 3, 2022).

The three-month Euribor, which entered positive territory for the first time since April 2015 on July 14, also rose today, setting a new high since February 2009 at 1.954% plus 0.032 points.

The three-month Euribor was negative between 21 April 2015 and 13 July last year (seven years and two months).

The three-month average Euribor rose from 1.011% in September to 1.428% in October.

In the same sense over a 12-month period, Euribor rose today, settling at 2.892%, up 0.032 points from Friday and a new high since January 2009.

After rising to 0.005% on April 12, positive for the first time since February 5, 2016, the 12-month Euribor has been in positive territory since April 21.

The average Euribor rate for 12 months increased from 2.233% in September to 2.629% in October.

Euribor began to rise more significantly from February 4, after the European Central Bank (ECB) acknowledged that it could raise key interest rates this year due to rising inflation in the eurozone, and the trend accelerated with the onset of the Russian crisis. Invasion of Ukraine on February 24th.

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On October 27, to curb inflation, the ECB raised three key interest rates by 75 basis points, the third consecutive increase this year, after raising three interest rates by 50 basis points on July 21. growth after 11 years, and on September 8 by 75 basis points.

Changes in Euribor interest rates are closely linked to increases or decreases in ECB key interest rates.

Three-, six- and 12-month Euribor rates hit record lows respectively: -0.605% on December 14, 2021, -0.554% and -0.518% on December 20, 2021.

Euribor rates are set at the average rate at which a group of 57 eurozone banks are willing to lend money to each other in the interbank market.


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