which is better for a wage earner, and why: A 10% raise followed by a 5% raise a year later, or a 5% raise followed by a 10% raise a year later?
202830
Time value of money\n\nThe time value of money (TVM) or the discounted present value is one of the basic concepts of finance, developed by Leonardo Fibonacci in 1202.\n\nThe time value of money is based on the premise that one will prefer to receive a certain amount of money today than the same amount in the future, all else equal. As a result, when one deposits money in a bank account, one demands (and earns) interest. Money received today is more valuable than money received in the future by the amount of interest the money can earn. If $90 today will accumulate to $100 a year from now, then the present value of $100 to be received one year from now is $90.\n\nTVM also takes into account risk aversion - both default risk and inflation risk. 100 monetary units today is a sure thing and can be enjoyed now. In 5 years that money could be worthless or not returned to the investor. There is a residual time value of money, beyond compensation for default and inflation risk, that represents simply the preference for money now versus later. Inflation-indexed bonds notably carry no inflation risk. In the United States for instance, Treasury Inflation-Protected Securities carry neither inflation nor default risk, but pay interest.\n\nThree formulas are used to adjust for this time value:\n\nThe present value formula is used to discount future money streams: that is, to convert future amounts to their equivalent present day amounts. \nThe future value formula is used to compound today's money into the equivalent amount at some time in the future (i.e., to compound money...either a lump sum or streams of payments). \nThe annuity formula is used to discount a series of periodic payments of equal amounts at equal time intervals. Examples include monthly mortgage payments or semi-annual coupon bonds.
223978
Would everyone like to earn more money?  Sure thing, from that standpoint it sounds great.\n\nBut the problem is this, when you raise the minimum wage, prices will go up in the market, reducing the effect of the wage increase.  Job availibily will go down, because the USA will become less competitive on the international market from a price standpoint.  The same people who received the "raise" will have the highest potential to lose their job.\n\nIf you look at the minimum wage as what you're going to earn, then you need to wake up, start learning some new things, find a new way to earn, find a better job, do something different.\n\nIf you're living in the USA and making minimum wage, it's your choice, opportunity is available, you just have to pursue it everyday!!
324677
I appreciate when my employees are up front with me.  If they have been working hard and deserve a raise, I don't hesitate.  On the other hand, if I have an employee who doesn't show up on time and leaves early, no chance.\n\nSo if you feel like you deserve a raise, be confident when asking and you will be rewarded.
450454
Since you went from part time to full time, you may have a little difficulty asking for an increase, but you can still do it.\n\nRemind your boss that you have been working there for a full year and you would like to request a cost of living increase. Do not recommend a percentage. I have always found when asking for an increase that if you leave it open you get more than you expected. If you provide an amount, you either get that amount or a reason for being given less.\n\nTake care and Good Luck,\nTroy
290694
Money is important, but happiness counts more than that, if ur money cannot buy u happiness whats the use, at times u got to take decisions with ur heart and not with ur mind. I can understand ur situation. But everyone has a right to be happy , so why deprive urself. move on, u never know the happiness the other job will give might reflect in better productivity and can also result in pay hike..best of luck and move on
472752
coming from someone who is in a labor union i would say that if minimum wage goes up than our wages would go up as well because they use minimum wage as kind of a baseline to gauge all other wages. but im not really sure just a guess.
567909
My raises are automatic, either annually or with a promotion, and they are based on a standard forumula with levels and market based standards for the job.  I like it that way!  I HATE to ask for money.\n\nI had a really bad experience in my last job, which was 10 years ago.  I felt that I was doing double what my manager, basically doing his management job for him, and was getting paid very little.  I went and asked for a raise, and was YELLED AT and belittled by the owner of the company.  He said "HC, I can tell what kind of person you are.  Always looking over your shoulder for another dollar and you'll never be satisfied that you're being paid what you're worth."  I found another job ASAP after that, where I'm happy to report that I make three and a half times what I was making when I left there.  They were taking advantage of me, and trying to make me believe they weren't.  That's abusive behavior.  \n\nIf you're in the market for a raise, good luck!!  If you think you're worth more, you're probably right.  Go for it, and if somebody tries to make you feel guilty about it -- don't wear it!!!
303190
People will always follow the higher salary/ better working environment -condition.\n1stly you would choose a job that pays better, then you see the shitty working conditions and look for a job that doesn't pay so well but with better working conditions.\nThis is all a evil cycle and once you are satisfied with your working condition you don't make enough money so it begins again.
150730
Say something like:\n\nSir, I'm sorry that you didn't think that I contributed towards the financial success of this company enough to warrant a raise.  I hope you will reconsider.  After all, I was responsible for (mention any exemplary work you performed)\n\nThen shake his hand and thank him, leave, and start looking for another job.\n\nIf you are a good employee, he will want to keep you on when you finally give him your resignation papers.  Maybe he will match or even exceed your proposed salary.  If not, then move on to somewhere where you are appreciated. \n\nYou shouldn't have to beg for a raise.  And you don't want to work for someone who doesn't appreciate you.  You will be miserable.
600923
1) if you are going to leave do not leave without having another job lined up. Nothing worse then being unemployed in a horrible job market. \n\n2) If you have a better job lined up, ask your boss about the raise and the promises at a convenient but not in public time. Do not cause a big scene and storm out or anything silly like that, as you probably  know. You never know who you might need a reference from in the future, or for that matter may be asking for a job from 5-10 years down the road.
373621
A. When you get a raise you don't complain.\nB. Telling off your boss is never a good idea.\nC. I don't think you really cared if you got fired.
86419
Higher wages is about attracting employees, while benefits packages are about retaining employees.  It is much more efficient to keep an employee around after they have been trained.  Most retirement plans, stock option packages, insurance benefits, etc. are designed to pay higher rewards to those with greater tenure so the longer you are around, the more expensive it becomes to leave.
510914
Basically, if you are starting at a GS-5 (I think you may be higher due to your status as a veteran) you get higher on the GS scale by working- I think you can generally go up about 2 GSs within 5 years and so on. Higher than a GS-11 may be harder because at that grade, you are talking about very high-up positions that few people get (Assistant Secretary etc.)
73950
Not only will your standard deduction go from $5000 to $10,000, but your exemtion will also go up from $3200 to $6400. Do keep in mind, like already mentioned, that both incomes are counted, not just one.
438421
It depends on the amount you're starting from.  Take a calculator, input your current wage, then + 3.3 % = and you'll have your answer.
420382
It's only common sense. It is better to get 50,000 (more money) in the first year so that you can invest it elsewhere for additional profit, than to have 10,000 (less money)in the first year.  Money has time value. A dollar in year one worth more than a dollar in year five. Mathematics calculation only confirm this common sense.
89109
1. Suppose you really love your job, you work really hard it at, and you are better than 90% of your peers.  Do you think your salary will reflect your superior work if your salary is negotiated by a union?\n\n2. Suppose you really hate your job, you hardly work at it, and you are worse than 90% of your peers.  Do you think your salary will reflect your inferior work if your salary is negotiated by a union?\n\nI agree - I don't believe in unions.