Don’t be bitter. Be rational. Do they have special training or skills that you don’t? Did they negotiate when they were hired? You may not like it, but maybe they deserve a higher pay grade. Rather than reacting emotionally, try to think of rational ways that you can prove to your manager that you are a member of the team that he or she should be investing more in. If you make yourself truly indispensable to your company, trust me — the money should soon follow.
Talk to your boss. As much as we'd like to think or work will do all the talking for us, sometimes people earn more simply because they ask for it. The asking part can be difficult. Instead of barging into your boss' office and demanding a raise, build your case slowly and carefully. Research average salaries in your city/state for your job and come prepared with a list of your latest achievements, as well as the goals you'd like to achieve in the future. Show your manager that you are the kind of employee they don't want to risk losing. The best time to talk raises is either during your annual review or around the time your company or department is finalizing its budget, most likely in the 3rd or 4th quarter.
Get ready to hear no. Even if you nail the meeting, your boss can still turn you down. Sometimes, money decisions simply aren't in their control. And if your coworker does have bankable skills that you lack, there's no real incentive for your manager to pay you more. If you still feel deserving of some sort of compensation boost, maybe you can negotiate other perks -- like working from home once a week, a cash bonus, or employee stock options.
Ask about your future. Let your manager know you see yourself with the company for a while. Ask if there will be room for you to move up. If the answer is no, maybe it’s time to hit the road. There's no reason to stay with a company that doesn't offer you opportunities to grow.
More from Mandi:
Money Minute: 3 ways to stop feeling broke all the time