Do This One Thing To Get Promoted and Make More Money, According To Codie Sanchez
Written by
Gabrielle Olya
Edited by
Levi Leidy
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When self-made millionaire Codie Sanchez was working as a low-level analyst at Goldman Sachs, she asked her boss what she could do to get promoted — and his advice was simpler than you might think.
“I had a boss who was very intense, former military, and he came in one day and gave me a few minutes — and he doesn’t usually give anybody a few minutes,” she said in a recent YouTube Short.
“[I said], ‘So I’m new. I don’t have a crazy background. I didn’t go to Cambridge or whatever. You’re sort of similar. You seem like you really pulled up yourself by your bootstraps.'”
Sanchez asked her boss for two or three things she could during her first 30 days to differentiate herself.
“And he was like, ‘No, it’s one thing,'” she recalled.
Here is her boss’s straightforward advice.
The Promotion Advice Anyone Can Follow
Sanchez’s boss said that the one thing she could to do to get promoted was “be here earlier, stay later.” She followed the advice — and it paid off.
“I just did that for a year,” Sanchez said. “[I was] in before anybody else, and I stayed later than anybody else, and I got promoted faster than anybody else and I made more money faster than anybody else.”
Although the rule is simple to follow, it wasn’t necessarily easy.
“What I liked about Goldman is they told you [what you needed to do], and it was just like, how much pain can you tolerate?” Sanchez said. “And that tolerating pain for a period upfront led to a lifetime of now I don’t have to tolerate much pain at all.”
More Expert Tips for Getting a Raise
Once you put in the work, it’s time to ask for a raise and/or promotion. To be successful at negotiating a pay bump, Ashley Stahl, a career expert, recommends taking the following steps.
Know How Much You Should Be Making
“Interview your peers to learn what they are making, if you’re comfortable doing so,” Stahl said. “Depending on the nature of your relationship with them, consider asking them to be transparent about their salary, job description, title and responsibilities. Compare their salary to yours, but do make sure you’re comparing your salary to those who have a similar role and level of responsibility to you.
“Be sure to consider their unique experience that factors into their salary, as well as what you’ve accomplished versus what your peers have accomplished, including increased company profits (or losses),” she continued. “Keep in mind it is more about job responsibilities and achievements over job title and description. A manager at one company likely has an entirely different role than a manager at another company.”
Make a List of Your Achievements
“How have you contributed to the company? Be specific,” Stahl said. “For example: ‘Under my leadership, our team increased profitability by 25% over the first and second quarter’ or ‘Using an innovative approach to reducing our carbon footprint, I was able to save the company x dollars over the preceding year, and the company is on target to do the same or better this year.'”
Practice What You Will Say During the Meeting
“Practice asking for a raise in front of the mirror, with a friend or the dog,” Stahl said. “According to Harvard Business Review, practice not only builds confidence but improves quality. Be objective. Anticipate objections and find solutions. Come up with as many scenarios as needed to gain the confidence you need.”
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