Work

Would It Be Too Soon To Ask For a Raise at Work After Only Five Months?

The term too early is always dependent on the individual and the company. What some companies consider too early for a raise might be normal for others. Similarly, if you think your performance is worth a raise within the first 5 months of joining a company then you can obviously go for it. Negotiating a pay-raise in 5 months is not quite a norm in majority of the companies, until and unless you have years of experience and outstanding performance to back your claim.

Majority of the companies around the globe think of giving a raise after an employee completes at least one year of dedicated service. However, the question of a raise can’t be rejected if the employee has performed exceptionally well and has managed to bring in huge business to the company. If you think that you are being paid lesser than colleagues working in your rank, you can always raise the issue with your HR.

In several companies, six months is considered to be the end of probation period and it’s better to wait out another month before you can actually raise the issue with your HR. As said earlier, getting a raise depends on the company policy, so you can’t ask for a rise in companies that follow a policy of not allowing a raise before an employee completes certain number of months in the company. There’s no point in arguing with your HR regarding a raise because you feel that you were handed a raw deal during your interview.

The best way to understand whether your company can actually give you a raise is to ask around and enquire a bit with your colleagues whether you can ask for a raise or not. A little survey in your office can clear the air for you and it will be easier for you decide whether you can get a pay hike in 5 months or not. Your colleagues will inform you if any such past raises have been offered to any employee or not. They will also inform you whether there has been any kind of feedback in your performance from the HR department or not.

Getting a raise is quite tough within the first few months if you haven’t performed exceptionally well and in fact have managed to catch the attention of your seniors. Only your seniors and the HR can decide on the raise so it’s better if you find ways to please them with your work and efficiency.

Benefits of Working Significant Overtime Consistently

Everyone wants to live an abundant and happy life with the people that are important to them. To support this aim, you keep on finding the best job that can support your daily needs as well as the needs of your family. However, finding a job that you truly love is a challenging task. It takes long time and process to find the job that belongs to your passion.

Definitely, employment is what you need to establish the life that you want for you and for your family. Meanwhile, there are some instances that you work overtime consistently. Do you think it is beneficial for you? Well, let us find out after you have read up to the end of this article.

 

Benefits of Working Overtime Regularly

If you choose to work overtime on a regular basis, you can expect a great amount of savings. As a result, you can have a reliable and dependable money making engine that can give you a luxurious as well as abundant way of living.

Even more important, you must also establish a great and well efficient program to keep your mind and body on its top shape. This is a very important factor to in order to make the most out of your work. Thus the condition of your health is an essential ingredient in order to have a reliable and productive employment program.

By simply having an excellent health regimen, you can have the chance to be a physical, mental, emotional, social, intellectual as well as spiritual well-being. With this, you can live with a high degree of satisfaction and happiness with the quality of your life. In addition to this, you can also help your family live in the best possible way.

It cannot be denied that working overtime consistently can be the best and powerful way to achieve a specific amount of money that you have been aiming for a long period of time. As a result, you can do the things that you love. Additionally, you can also go to the places you love. You can also buy the materials things that you want to possess.

To sum it up, your hard work, persistence, enthusiasm, perseverance as well as your patience in your job is a reflection of the good things that you have in life. Without your efforts, you cannot attain the goals and dreams in life. If you want to have a particular huge amount of money, then it is the best way to achieve it. Working overtime can help you to get the amount of money you desire. You can do this in a fast, easy, reliable as well as professional manner by simply giving your best efforts on your employment.

 

Take safety precautions when working overtime

On the other hand, apart from its positive effects, working for long hours has also its own disadvantages for a busy and aspiring working individual like you. It is therefore highly suggested for you take a balance between your employment and health.

While working overtime, there is a possibility that you can encounter some work injuries that may lead into a more serious problem. Therefore, you must formulate a well laid out plan of action to establish both a successful employment and health.

How do I Pick My Insurance if I Have a Choice at Work

Choosing a health plan at work can be confusing and often overwhelming. The specifics will vary with each employer, but there are ways employees can evaluate their options to find their best mix of cost and coverage.

Picking Insurance

Cost
Cost for the employee falls into two categories:
1. Up-front premiums.
2. Charges at the time of service.

The premium is the amount taken out of each paycheck for the employee’s share of the insurance company’s charge for the plan. Most employer plans are designed so that premiums are deducted pre-tax, meaning the employee saves on federal income and Social Security taxes and possibly also state income taxes.

Charges at the time of treatment are the out-of-pocket amounts patients must pay to receive medical services. Co-pays, deductibles, and co-insurance can vary a lot depending on the chosen plan and services used. In evaluating this factor, the employee must remember that, under healthcare reform, any service designated by the federal government as preventative should be provided at no charge to the patient.

The cost factor in choosing a plan often comes down to balancing higher premium cost against lower charges for treatment and vice versa. But this relationship between premiums and out-of-pocket does not always hold because of the variable of coverage.

Coverage
Depending on plan design, coverage will vary among plans in multiple aspects:
1. Is a service covered at all?
2. Is there a cap on the service (number of visits, frequency of tests, etc.)?
3. How much flexibility does the patient have in choosing the provider or opting for a procedure?
4. How often are referrals and preauthorizations required?

Don’t assume a service is covered by all plans just because it is covered by one. If an individual plans to use a particular service, she should review all the plans she is considering to make sure coverage is available for that service.

Perhaps the service is covered but the plan puts a limit on the number of visits. The employee should compare any such limits with his anticipated use of the service. If the plan will not cover his full utilization, the employee must determine if, for him, the extra out-of-pocket expense is worth the service or if another plan is the better approach. Depending on the employer, the employee might also have options such as a Flexible Spending Account (FSA), a mechanism for the employee to set aside pre-tax dollars to use for any medical expenses not covered by insurance.

As a general rule, the more flexibility the patient has to choose doctors and services without getting a referral or preauthorization the higher the premium cost. Plans can range from the HMO, which requires all medical services be arranged through a primary care physician, to a traditional indemnity plan, which places almost no restrictions on where the employee can seek care. The employee must look at her own situation to decide how much choice and flexibility she is willing to pay for relative to the other factors.

Five Smart Financial Moves if You’re Starting a New Job

Making the switch to the new job is often an exciting experience,one where the new challenge and and new opportunities help make one look forward to reporting to work. But before everything is done and dusted, there are a number of steps or precautions that you need to ensure are in place before you start off on a new job.

Financial Moves Before a New Job

Taxes

You need to make sure that your job takes into consideration the tax requirements of whichever area you are working in, so that you do not get a rude awakening when calculating your net income. This is important because apart from federal taxes, taxes may vary from state to state in the United States or if you are working abroad. The methods that the firm uses when filing returns is also important, so that your federal mandatory earnings may not be misplaced.

Benefits

You need to take into account what benefits accrue to you, and how these affect your net income and your standard of living. These of course should include health insurance, housing and transportation allowances, meals as well as allowances that ease the execution of your job, like travel allowances.

Pension Fund Schemes

You should always query what schemes are in place in terms of pension or saving schemes, as these vary from work place and are critical to securing your future livelihood as well as your future finances. Sometimes firms develop their own schemes which have slightly higher returns and encourage their employees to invest in these schemes and it is aspects like these that one should look out for. Firms also work closely with different schemes that offer them preferential rates. You may want to examine these options as well.

Direct Personal Savings

Despite all official saving schemes that one has in place, one would wisely have a way of putting aside a nest-egg of sorts. This may be in the forms of direct remissions from your salary to that particular savings account that you put aside for a rainy day. When you are starting on that new job, try and ensure that this practice, if it has been in place, is maintained, or if it hasn’t, then now would be a good time to start.

Credit Management

In a society or economy that thrives on deferred payments, managing your credit is an important aspect of daily financial management. When you start on a new job, ensure that pending credit payments can be servicing in a planned and systemic manner, one that helps keep interest payments from accumulating as well as ensuring your credit rating remains good.

Several other aspects of financial management come into play when starting a new job but these five should at least get you on the way to making the transition to financial security significantly easier.

Should I Use a High Deductible Health Care Plan?

Expenses for medical services can be very costly these days. For a person to go without health insurance is a dangerous financial risk. If a major illness or accident occurs a family can find themselves facing enormous medical bills. Medical expenses quickly add up and the inability to pay them can wipe out someone’s finances entirely. Many hospitals refuse to see patients who are uninsured unless it is a dire emergency.

At this point the patient is usually just stabilized for transport to another hospital that accepts the uninsured. Often people choose to take the risk of going without insurance because they think that they will not be able to afford the insurance premiums. Or they simply choose to take the gamble of going without health insurance because they are normally healthy and seldom need to seek medical care. Most health insurance policies offer many different packages to fit a variety of budgets. Health insurance deductibles affect the amount required for the premium, choosing a higher deductible will result in a lower premium.

This option is better than having no insurance at all. With a higher deductible a person has more out of pocket expenditure initially; however once that deductible is met the insurance will then cover whatever portion of the expenses they are required to pay. The insurance policy will specify the exact amounts of the deductible, what procedures are covered by the insurance, and what portion the insurance will pay. Most people are surprised to find out how quickly they can meet their deductible within a few physician office visits. If a major illness strikes and hospitalization is required that deductible could be met in as little as one day. A bill for the deductible amount is going to always be a better option than having to pay the entire bill for a hospital stay out of pocket.

One benefit to having a deductible is that a person knows exactly what amount they will be responsible for paying. There will not be any big surprises because they know what to expect. For people living paycheck to paycheck surprise bills can really throw off their budget. By knowing the exact amount required to meet the insurance deductible they can plan accordingly. High deductible plans are a great option for those looking to save money on insurance premiums and most people are in a safe position to take advantage of these savings.

People with chronic illnesses such as diabetes might find it more beneficial to go with a lower deductible, however for those who are generally healthy there is no need to pay a high premium for insurance that they may not even use.

Another benefit to having a high deductible is being a healthier person. Knowing that they have a high deductible often encourages people to take better care of themselves to avoid getting sick in the first place. This is a win-win situation, they are saving money on their health insurance premiums while getting healthier in the process.