Getting a raise can be an exciting moment. Whether it comes as a surprise mid-year or is something you’ve been waiting for with the New Year, it can be easy to let that excitement get out of hand with an expensive dinner on you out with friends or a lofty purchase you’ve been holding off on.
While there’s nothing wrong with treating yourself and celebrating your raise (you totally should!) there are a few other things to think about when you get a raise that can set you up for success.
In this infographic from Credit.com on what to do after you get a raise, you’ll learn to do a few key things after you get that raise that can help you stay on track for successful finances in 2019, but also ensuring you continue to grow at work.
Ask your manager if any new expectations come with this raise, even if you didn’t receive a title change. This raise may indicate you’re considered more senior now, at least in your manager’s mind, so it’s important to ask if you’re expected to take on more responsibilities or be more autonomous.
To get into the nitty gritty, you’ll also want to calculate your tax bracket change and make sure your take-home cash is what you expect. It can be a bummer to get a raise, only to realize you’ve been bumped to a new tax bracket so make sure you’re not caught off-guard.
And finally, don’t forget to set next steps. Avoid plateauing and settling on your raise by slacking off or acting entitled. Set new goals for the next quarter and continue to push yourself towards deserving another raise or even title change!