The primary reason we work is to get compensation in return for our time and effort committed to our employer. Compensation comes in may different forms of monetary value and when asking for a raise it is important to understand the different buckets of compensation. Perhaps the largest portion of your compensation and for that matter what should be the highest on your priority list will be your hourly wage or salary. As you begin your email request for a raise it’s crucial you think through the way you are paid and what specifically you are going to ask your employer to pay you. When calculating your raise request it may be helpful to understand the rate of inflation as well as what others in your same industry are getting paid for the skills and abilities you have in your job. Be prepared and don’t understate your value in this ask as often there is a give and take negotiation that will follow your request.

Next up in your compensation package would be your access to a retirement program such as a 401k that is sponsored by your employer. Make sure you speak directly to your HR department to understand the benefits the company provides such as a company match of funds you contribute which essentially becomes free money. Take full advantage of anything your employer offers around retirement as it’s a big factor in total your total compensation package that should not ignored if some day you are saving with a goal of retirement in your future.

Health Insurance is quite possibly the most overlooked part of your employer compensation package. While not as black and white in numbers, healthcare is one of the most costly expenses any living person has to deal with. Your employer may not offer health insurance, offer it at a reduced rate or pay for it in full making it crucial you investigate your options. Understanding the true value of your is another dollar based part of your compensation. Make sure you are getting the best deal possible.