Variable pay plan: You can go for a broad- based variable pay plan that is in place in 90 percent of companies. Awards, bonuses, and incentives are part of such variable pay plans. If you are not satisfied with the raise you have got, approach your superiors or the human resources department to know how you can link your performance to salary. You can set aggressive goals and negotiate compensation for meeting them.
Relocating: For a good pay raise, you may consider relocating yourself to a place that offers a better salary hike. Take for instance Detroit and Dallas where the pay increases are higher than the average. So you can search for a job in either city. Keep in mind that cost of living varies from city to city and if the raise is negligible, it is not worth the effort to decide on relocating yourself.
Switch industries: If your industry is stagnant, you switch to a greener industry. Industries that are giving highest salary increases are energy, oil, gas, real estate, construction and engineering. Don't remain with an industry that limits your earning potential.
Even in lean times you can work out an increase in your total pay package. Most companies use the media reports to their advantage. When you seek a hike, they show you media reports and tell you that many units are being closed. But what they don't tell you is that the top brass are getting regular pay hikes. This strategy works well for them as most of the employees keep quiet and go away.
