MONEY salary

How to Get the Raise You Deserve

Two-thirds of people asking for a raise get at least some of the money they request. MONEY's Donna Rosato has tips on how to ask for more pay.

TIME Careers & Workplace

There’s Actually a Secret to Getting a Raise—And This Is It

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And, no, it's not switch careers

It’s no surprise that working in a big city like New York, Chicago or Los Angeles means you might earn more, but as it turns out, where you live can affect how much you earn pretty much anywhere in the country. In other words, if you’re not happy with what you make, think about switching cities rather than careers.

TheLadders.com crunched the numbers to see just how big of a difference location can make in your earnings potential. It identified 21 jobs with salary gaps of 98% or higher as well as the highest- and lowest-paying average salaries by city.

The top-paying location for nine of the 21 jobs is San Francisco, and three others are in two more California cities, Monterey and Sacramento. “San Francisco’s booming technology sector has created an unmet demand for particular skill sets, forcing companies to compete for these scarce talent resource and pushing up top tier salaries,” says Shankar Mishra, vice president of data science at TheLadders.

San Francisco is also a notoriously expensive place to live, of course. Longtime residents have protested what they see as an intrusion by big tech companies like Google pushing rents higher and clogging the streets with private shuttle buses for employees.

Many of the jobs with the biggest gaps are in marketing or communications, but almost every field turns up somewhere on the list, from tech to law to financial services to healthcare. In fact, a technology job tops the list. Information security officer jobs have the biggest gap identified by TheLadders at 139%. Workers in Boston make an average of $113,000, but people doing the same kind of job in Miami only pull down an average of $47,000.

In terms of dollars, the job with the biggest gap — a whopping $91,000 — is an enterprise account manager. People with this job make an average of $168,000 in Baltimore, but earn a comparatively paltry $77,000 in Milwaukee. (It’s kind of a vague title, but generally, it refers to a professional who sells and manages telecommunications or technology services to corporate clients.)

Once again, resurgent tech boom is a driving force behind this trend, Mishra says. “Big players in the technology industry are influencing the top end of salaries quite a bit, and the impacts aren’t just on tech-specific roles, but for other functions too,” he says.

For instance, this is why so many jobs in marketing and communications show up with big variations in pay and command much higher salaries in cities with strong high-tech sectors like San Francisco and the Silicon Valley area.

“Demand for most of the top-paying jobs in this field is being driven by the technology sector,” Mishra says. “To contrast, demand for these kinds of jobs is much lower in cities like Little Rock or Charleston,” he says. Those two Southern cities had the lowest average salaries for director of marketing and director of communications positions, respectively.

Two legal jobs — associate general counsel and associate attorney — made the list, and the results are similar. These positions pull down top salaries in the nation’s capital, while the lowest pay for both is in Louisville.

“The excess of lawyers combined with a lack of demand in Louisville has suppress their median salaries,” Mishra says. “The presence of the federal government in D.C. generates enough demand to keep pushing the top end of salaries in this field even higher.”

TIME Innovation

Five Best Ideas of the Day: March 25

The Aspen Institute is an educational and policy studies organization based in Washington, D.C.

1. ISIS can be beaten. But we need to think and plan now for what happens after that.

By Robert Joustra in the Globe and Mail

2. Facebook is still experimenting on you. It’s time to bring back informed consent.

By Ilka H. Gleibs in Psychology@LSE

3. What happens when we pay elected officials better? They start caring about voters more than special interests.

By Ian Chipman at Stanford Graduate School of Business

4. How can we spur innovation in U.S. advanced industries? Think beyond our borders.

By Kenan Fikri and Devashree Saha at the Brookings Institution

5. To cheaply reduce carbon in the atmosphere, we can reforest the planet — using data and drones.

By Emiko Jozuka in Wired.co.uk

The Aspen Institute is an educational and policy studies organization based in Washington, D.C.

TIME Ideas hosts the world's leading voices, providing commentary and expertise on the most compelling events in news, society, and culture. We welcome outside contributions. To submit a piece, email ideas@time.com.

MONEY salaries

This Easy Negotiation Trick Could Boost Your Salary

150320_CAR_Negotiation

New research shows that framing your desired pay for a new job in a particular way can help you hit your target.

A new study finds that asking for a dollar amount during a negotiation is more successful if you put it at the bottom of a range instead of just asking for it outright.

So for example, if you’re targeting a salary of $52,000, you’re best off asking a prospective employer for something between, say, $52,000 and $56,000.

The finding, by Daniel Ames and Malia Mason of Columbia University, might seem obvious at first glance—but it actually contradicts existing schools of thought. Some experts have theorized that you should not open salary negotiations with a range because doing so could make you seem either uninformed or manipulative and might cause the person you’re negotiating with to consider only the lowest number in your offer.

Instead, the new research found, couching your request in a range can actually make you seem more cooperative and flexible—and make it harder for a prospective boss to counter with a much lower salary number without seeming impolite. The key is choosing the right high and low anchor numbers so you don’t accidentally low-ball yourself.

“The lowest number is the point offer you are aiming for, and the high number is more ambitious,” says Mason. “People who want $100,000 will often ask for $90,000 to $110,000, but it is going to be most effective to ask for $100,000 to $120,000.”

Of course, there are exceptions to every rule, and sometimes a different tactic might be more effective to gain the upper hand during a salary negotiation. Another study Mason conducted showed that that asking for specific, unrounded figures in negotiations can be better than asking for rounded ones, because it makes you seem more informed. So to use the same example from above, if you want about $52,000, you might want to ask for $52,500.

Those findings aren’t necessarily inconsistent, Mason points out.

“Context is important,” she says. You might be better off using a precise number if you want to send the message that “you have done your homework. But if it seems important for you to appear flexible, then you could signal that by offering a range.”

That’s one reason to pay close attention to the cues your interviewer is sending out. If he or she drops a lot of language about adaptability and cooperation, naming a range might cast you in a more positive light. Alternatively, a specific number might be appropriate if the job description seems to emphasize preparedness, knowledge, and thorough experience in the field.

But none of this is to say you should suggest a salary without being asked about it directly, says Mason. Top recruiters agree that—when you can help it—it’s best to let a potential boss be the one to bring up a number first.

Read next: The Secret Formula That Will Set you Apart in a Salary Negotiation

MONEY salary

Your ER Doctor Might Get Paid As Little As a Wal-Mart Employee

Bentonville, Arkansas Walmart
Gunnar Rathbun—Invision for Walmart

Wages of about $13 an hour are one thing medical residents face in their first few years out of school.

Fourth-year medical students around the country celebrate Match Day on March 20, the day acceptances to medical residency programs roll in, and soon-to-be doctors learn of the hospitals, clinics, and cities where they will be spending the next few years of their lives.

One topic of conversation that’s less celebratory? How much they will get paid.

The average salary for a medical resident is about $51,000, according to Payscale.com. While that is close to the median household income in the United States, residents are known for working very long hours—a practice that has caused controversy, in part because of safety concerns. Rules set by the Accreditation Council for Graduate Medical Education officially limit residents’ working hours to 80 per week—though exceptions allow hours as high as 88 per week.

What this means is that in hourly terms, pay for residents can be as low as $13 an hour. That happens to be the level to which Wal-Mart announced it would increase full-time wages this year.

The good news, of course, is that doctors can expect their salaries to rise significantly once they finish training: The average pay for general practice physicians is $131,000 a year, according to Payscale—with medical specialists like orthopedic surgeons pulling in starting salaries as high as $450,000.

TIME real estate

This Is The Salary You Must Earn to Afford a Home in America

Home
David Papazian—Getty Images

A homebuyer needs to earn $48,603 to afford a median-priced property, report says

To afford a typical house in the U.S., a homebuyer needs a minimum salary of $48,603 as well as a 20% downpayment, according to new research from mortgage publisher HSH.com.

HSH.com calculated the minimum salary a buyer must earn to pay the principal, interest, insurance and taxes associated with home purchases across 27 metropolitan areas, using fourth-quarter data from the National Association of Realtors (NAR) and average interest rates for fixed-rate, 30-year mortgages.

“Home prices in metro areas throughout the country continue to show solid price growth, up 25% over the past three years on average,” NAR chief economist Lawrence Yun told HSH.

San Francisco continues to top the list of most unaffordable cities, requiring a buyer to be paid $142,448, while New York City only requires $87,535; Boston, $80,049; Washington, D.C., $77,394 and Chicago $54,346.

If you want the most bang for your buck, head to Pittsburgh, where you’ll be fine with $31,716; Cleveland, $32,010; St. Louis, $33,323; or Cincinnati, $33,485.

Take a look at the complete list here.

Read next: These Are the Best (and Worst) States for Business

Listen to the most important stories of the day.

MONEY Earnings

The 3 Best Ways to Boost Your Earnings This Year

hand holding dumbbell with coin at the end
Sarina Finkelstein (photo illustration)—Getty Images(2)

To pump up your salary, switch up your career routine.

Welcome to Day 8 of MONEY’s 10-day Financial Fitness program. By now you’ve seen what shape you’re in, bulked up your savings, and cut the fat from your budget. Today, add some muscle to your paycheck.

When you hit a fitness plateau, taking a new class or picking up a sport can be the key to breaking through to the next level. The same concept applies to your career. Landing a new job will likely result in a salary 18% to 20% higher than what you’d get via an internal promotion, according to a study by Wharton professor Matthew Bidwell.

Thanks to a rapidly rebounding job market, this is the best year since the recession to get a new gig. More than one-third of employers expect to add full-time employees in 2015, according to CareerBuilder’s annual job forecast, up from one in four last year. Here’s how to stand out.

1. Get the Inside Scoop

Employee referrals generate a full 40% of new hires, according to the JobVite 2014 Recruiting Survey. So rather than scouring the job boards, talk to people you know and ask about openings at their firms. Love a certain company but don’t know anyone there? Reach out to your personal network or tap your LinkedIn contacts to see if anyone can connect you to an employee.

2. Make Yourself Poachable

Employers are increasingly courting passive job seekers, says John Hollon, editor of TLNT.com, which covers HR trends: “These are employed workers who may be willing to switch jobs but aren’t actively searching.” Recruiters like these candidates because they’re successful and valued at their current jobs. Interested? Get on hiring managers’ radar by peppering your LinkedIn profile with keywords related to the type of job you want. You can also sign up with the website Poachable, and get the Poacht app. List your dream job and resume for recruiters to browse.

3. Be Bold

That said, maybe you love your job or just can’t move right now. That doesn’t mean settling for a middling raise. While the biggest bumps do go to top performers, simply asking goes a long way. A new study from Payscale found that 75% of employees who requested an increase got one, with 44% landing the exact figure they asked for. The odds of receiving your requested amount are even better if you’re already a high earner: Those with a salary of $150,000 or more had a success rate of 70%. Before you ask, get a sense of the budget. You have more influence when you show you see the boss’s side, says career coach Lee Miller.

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MONEY job search

How to Catch the Eye of a Recruiter in Just 7 Minutes

LinkedIn on a mobile phone
Felix Choo—Alamy

An optimized LinkedIn profile can help you stand out from the crowd.

As part of our 10-day series on Total Financial Fitness, we’ve developed six quick workouts, inspired by the popular exercise plan that takes just seven minutes a day. Each will help kick your finances into shape in no time at all. Today: The 7-Minute LinkedIn Makeover

Nine out of ten recruiters use social media to find or check out candidates, especially LinkedIn. Your profile is 14 times as likely to be viewed if it has a picture. So find a professional-looking photo and upload it to your computer before you start the clock.

0:00 Log in to your LinkedIn account and select “Edit Profile.” Click on “Add Photo” to upload the pic you’ve selected. You’ll see a yellow square that you can drag to change the position and size of the picture. Make sure you’re centered and hit save.

1:05 By default, LinkedIn uses your job title as your profile headline. Instead, write your own bold wording. Stumped? When you highlight the field to change it, LinkedIn lets you peek at what others in your industry are using.

2:34 Check out your profile summary. Are you hitting all the keywords you’ll need to show up in recruiter searches? Take a minute to scan some job descriptions in your profession to make sure you’re using the right language.

5:00 Nothing says LinkedIn novice like an alphabetsoup URL.

Create a custom version by clicking the LinkedIn URL listed right beneath your photo on the Edit Profile page. You’ll be transported to the Public Profile page, where you can create your own. Stick with something simple, like your name.

5:35 Bulk up your recommendations politely. Write a sincere post for one of your contacts, and then email asking if she’d mind doing the same.

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MONEY Workplace

Wage Equality Takes Center Stage at the Oscars

Patricia Arquette's acceptance speech at the Academy Awards put the gender wage gap at the forefront of discussion.

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