Barbara Corcoran from 'Shark Tank' reveals the most effective way to get a raise at work

People who know Barbara Corcoran from 'Shark Tank', the successful ABC show where aspiring entrepreneurs show up to pitch their business models, are aware of how she has made some pretty good deals as an investor so far. The 74-year-old multimillionaire did not reach the pinnacle of success in a day and she has learned some valuable things in her journey to becoming a successful businesswoman.

Now, Corcoran has taken to TikTok to share some valuable tips with younger people on how to secure a raise at their job even when the employer tells them that there is no budget. The real estate mogul addressed millions of her followers to ask for a raise if they feel like they have been taking a lot more responsibility than they signed up for. She encouraged her viewers to approach their bosses and present them with a list of tasks that they've taken on.

"Hey, you want to get a raise? I'm a boss, and I'm going to tell you how," the entrepreneur said on her TikTok video. "Make an appointment with your boss and take your list of new responsibilities with you and show them how you deserve it." She also explained what a person needs to do while asking for a raise and stated that an employee shouldn't believe when their boss claims that they don't have enough budget to give their employees the raise they deserve.

"Somebody's getting that money in their pocket, somebody is," she concluded. The comment section of her TikTok video was flooded with gratitude and praises for sharing the tip with people who actually need it. @ladymasterbearder joked: "If my barbers did more than what is required of them or without me asking. I would build a 2nd shop and hand them the key." @myaintheclub wrote: "Hey Barb! I’m about to buy my first condo. Just wanted to say thank you for all your videos. I’ve learned so much from your videos."

@winmcd quipped: "Somebody is getting that money, but my boss makes a point for it not to be me!" @staysta13 commented: "I had this happen and the outcome was, they fired me. I was an assistant sales manager and finance director for a dealer in Bethesda, MD." @sharkindness showed a bit of disagreement and wrote: "Yeah, that doesn’t work very well in the real world. Bosses expect you to do the job of three people and just expect you to do it or else you are out."

According to Financhill, Corcoran started her first business when she was in her 20s in 1973. As a fresh graduate from St. Thomas Aquinas College with a degree in education, she wasn't entirely interested in the teaching positions. Corcoran dabbled in several other jobs which included renting apartments as a gig in New York City and working as a receptionist at Giffuni Brothers' real estate company.

However, Corcoran wanted to become her own boss and she ended up starting a small business with her then-boyfriend. Years later, she founded The Corcoran Group. She devoted her time and efforts to developing the company and establishing herself in the real estate market of New York in the mid-70s. In 2001, she sold The Corcoran Group to NRT (formerly National Realty Trust) for $66 million. Corcoran also earns an additional income as an author and inspirational speaker.