How to turn down a raise
Yes, I know it sounds weird, but I have gotten word that I'm going to be given a raise at the end of the week and I need to know how to properly turn it down. I currently receive financial aid as a part-time community college student, which is mostly dependent on my personal income. If I get the raise, it'll bump my income into the next bracket and I'll have to pay more for school out-of-pocket, meaning I'll actually be LOSING money by getting the raise. I might want the raise later down the line, though, so I don't want to ruin my chances of that by not getting it built into the budget starting now. Thoughts?
Hi Roland Does your company let you comp hours? If so speak with your employer and ask if you can turn that raise into comp hours while you are in school. It may take awhile to build up 8 hours depending on how much they are offering but it would be a way for you to graciously accept the raise so that you may not lose it all together as well as give you extra time off in the end. Hope all works out.
Denise Ackerman,LVN
Yikes!!! That is tough! I defiantly understand where you are coming from. I had that same struggle in college to remain under a certain tax bracket! Hmmm....
First, say thank you. Then explain. How long before you finish school? Could they delay the start of the increase? Or similar to the other poster's suggestion, perhaps they could give you tuition support instead of a raise? Before you turn down the raise, consider the long-term effects. Many raises are percentage based, so it compounds. A lower salary now, may mean a lower salary in the future and lower raises in the future. Good luck and congratulations on doing such a good job!
Check into the company benefits package, see if they do, student loan paybacks if you agree to stay on with them for a certain amount of time. Worth a try, and the raise too.
I would take the raise, and have them post it to your check after you graduate from school. Have a heart to heart talk with your super.good luck!!!!