US Plans to Ease Bank Capital Rules on Treasury Trades
The top US bank regulators plan to reduce a key capital buffer for the biggest lenders by up to 1.5 percentage points following concerns that it constrained their trading in the $29 trillion Treasuries market. The Fed said on Tuesday that it plans to meet on June 25 to discuss the plan. Katanga Johnson reports on Bloomberg Television. (Source: Bloomberg)
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SoftBank founder proposes $1trn AI and robotics hub in US
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How to ask for a raise: 6 mistakes that can hurt your chances — and what to do instead
Only 13% of full-time employees requested a raise in 2023, but 66% of those who did received one, according to a May 2024 Federal Reserve survey. It goes to prove the old saying right: Ask, and you shall receive. Still, asking for a raise at work can be a stressful conversation for many employees. If you ask at the wrong time or in the wrong way, you could hurt your chances. From asking too soon to giving ultimatums, even minor missteps can work against you. In many ways, it's a skill of its own. Here are six mistakes to avoid, along with practical tips to approach salary discussions with confidence and increase your odds of success. Before asking for a raise, it's essential to establish a strong relationship with your manager. Otherwise, the conversation won't go far. 'Before giving a raise, I would want to know what my employee is doing and have a regular cadence where we're meeting consistently,' says Patrice Williams-Lindo, a career coach and manager of five. 'If it's the first time we're meeting, it's impractical to ask for a raise then and there. It's like asking someone to marry you on the first date,' she explains. Set up regular one-on-one meetings with your manager if you haven't already done so. Use that time to keep them updated on your progress, share your wins and make sure you're aligned on goals, including earning a salary increase. It will also give your manager a clear understanding of how you and your work contribute to the team. Do you work for a great organization? Nominate it as one of America's Top Workplaces. Even after you've established a relationship with your manager, avoid requesting a raise in an arbitrary one-on-one meeting, via email or during a casual conversation. Your manager should know the conversation is coming. 'It shouldn't be an ambush,' Williams-Lindo says. 'When you book the meeting, say, 'I'd like to talk about compensation and share the results I've driven,'' she advises. Schedule a dedicated meeting and clearly state its purpose. That way, your manager has time to prepare and come to the conversation with the right mindset. Timing can significantly impact whether your raise request is granted. If you're unsure when your company typically handles raises or promotions, bring it up during your one-on-ones, then use the intervening time to work toward that raise. 'If I'm setting myself up for mid-year, then I need to start at the beginning of the year — if not before — building that case,' Williams-Lindo says. Map out what you want to achieve for the year ahead and start gathering proof points early, so by the time you discuss a raise or promotion with your manager, your case will already be well established. Avoid asking for a raise out of fear or personal financial pressure. Instead, keep the focus on your performance and value. Williams-Lindo suggested saying something like, ''It's been X months — here's what I've done, the caliber of my work and the outcomes I've delivered. That's why I believe I'm qualified for X, Y or Z.' That gives off a different energy than, 'Hey, I don't know how I'm going to pay my rent, and I need a raise.'' Center the conversation on your professional achievements and value. Know what the market is paying for your role and what peers in similar roles (even at other organizations) are making. If you can demonstrate the gap, you're more likely to have a productive outcome. Giving an ultimatum when asking for a raise is a major mistake. Even if you do get the raise, this type of communication can antagonize your manager, damage your professional reputation and ultimately undermine your value. 'This might sound like, 'I need a raise, or I'm quitting.' I appreciate that bravado, but for me, it's a bit of a turn-off, because how did we get here?' Williams-Lindo says. Rehearse your talking points. Calm, professional conversations are far more effective than explosive ones. Be open to negotiation and prepared to compromise on the final amount. Even if you've thoroughly prepared and presented your case well, your raise request could still be denied. If you're told "not right now," ask your manager for specific feedback. There may be outside factors influencing the decision or specific goals you'll need to meet to be considered for a raise in the future. A good manager will explain the reason — whether it's because the company is facing a downturn or because there are performance gaps to work on — and then help you to fix them. Set up a follow-up time — in three to six months — to revisit the conversation. This will indicate that you are engaged and goal-oriented. If your manager is dismissive and doesn't provide clear, achievable paths to advancement, it may be time to reassess if this is still the right place for your growth. This article originally appeared on USA TODAY: how-to-ask-for-raise
CNBC
28 minutes ago
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ETF boom continues as investors chase safety, growth and Fed-fueled gains
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