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If you haven’t received your annual performance evaluation or your merit increase this year from your current employer, let me give you a tip: You need to ask for at least a 20% raise! Don’t walk into your manager’s office without being armed with some good statistics.

You should begin by explaining to your employer that oil has risen from $62/barrel to $108 in just one year. Explain that your car needs gasoline and the cost of that commodity has increased from $2.60 last year to $3.20 this year a whopping 23% in just one year!

You should explain that you enjoy European vacations to allow you to recharge but the Euro has climbed from $1.32 a year ago to $1.55 today. A whopping 17% in devaluation in the currency they pay you in against your favorite vacation spot.

You should explain that the prices of wheat, corn, soybeans and other food stuffs has increased over 56% over the past year alone.

Commodities

You need to explain that your significant other enjoys gold jewelry and it has become increasingly difficult to acquire gold gifts for them as the price of gold has climbed from $600/oz to $975/oz in just one year. A whopping 62.5% increase!

Of course, you should throw out this offer too, “If oil drops from $108 to $60 and commodities drop 30%, I’ll be willing to take a 10% cut off of that 20% increase but if it doesn’t happen by year end then I’ll keep the full 20% raise!”

I’m going to try to explain it as simply as I can that if you currently make $40,000/year and inflation is growing at 7.5% then you’ll effectively lose $3000 in purchasing power this year alone. If you receive a 4% raise this year and now think you’re making $41,600 don’t be fooled as it only means you’re losing $1,400 instead of $1,600 this year in purchasing power.

A 20% raise on a $40,000 salary means you’ll be making $48,000 with $3000 eroded by inflation then you’ll get a real raise of $5000 or 12.5 pct which is just enough to keep you level with what you need to buy gold for you s.o. a little trip to Europe for a week or two and some decent grub.