Whether you are starting a new job or geared up for promotion it’s important to understand that negotiating your pay is perfecting normal part of the employment process. If you feel that your salary isn’t enough, you should feel empowered to negotiate in order to get what you deserve. Getting the salary you deserve is part of advancing in your career. While negotiating your salary you should also keep in mind that it should justify to what you are expecting from your employer. Let’s check below to dive further:
When should you consider to negotiate your salary?
If you’re satisfied with your current company and role, but not your compensation, you may decide to negotiate a pay raise rather than seeking out new employment. Depending on the current situation at your organization, this may or may not yield the results you’re hoping for, but either way, it’s best to go into these negotiations with a strategy.
- Almost all employees believe they deserve better compensation, but why they deserve this may not be fully apparent to their employers.
- If you want to get a raise in your pay you need to convince your employer that your value is higher than it was during your last pay period.
- You also need to show that you have plans that will continue to bring value to the company going forward.
- Most people cringe at the thought of asking their boss for a pay raise. If your company doesn’t do regular annual salary increases and you’re not up for a promotion, asking may be the only way to get the raise you know you deserve. You should understand that it is perfectly acceptable to ask for a raise,
Asking a raise isn’t easy yet it is one of the essential skills required in order to thrive in the corporate world. Negotiating a raise isn’t just about the money—it’s also about valuing your work. By knowing how to negotiate raises, you’ll also be able to value your performance and feel more satisfied with your job. While asking for a raise can seem intimidating, the process is manageable if you are well prepared. Let’s see some of the ways to negotiate your paycheck:
Research your position’s salary range: If you want to ask for a raise, you need to know your worth. Do some online salary research for your current role including job title, years of experience, skillset, job description, and location to see what the average salary and pay range is for someone similar to your role.
Make a list of your accomplishments: To show your manager that you’re valuable to the company, make a list of all of your accomplishments in your role. Be sure to include any additional responsibilities that you’ve taken on yourself, especially if those new responsibilities were self-led. Also consider highlighting any positive annual performance reviews your manager has conducted with you in recent years.
Decide on your target salary: Pick a pay raise number before you go into the negotiation. Make sure that you factor in your position’s current market value so that your target is within the average salary pay scale for others in your role.
Practice your argument: You’ll want to prepare everything you need ahead of time so that you don’t have to do too much quick thinking during the negotiation process. Consider practicing in the mirror or with friends or co-workers—or write everything down so you don’t forget any important details. Learn how to use your tone, inflection, and dynamic silence to support your ask.
Schedule the meeting: Schedule a short one-on-one with your manager and lay out your request. When negotiating salary raises, the most important thing to remember is to keep emotions out of it—the conversation will go more smoothly if both sides calmly and politely listen to each other’s position. Keep the negotiation up with healthy give-and-take until you both can reach a satisfying compromise.
Follow up. After the conversation, make sure to thank your manager for their time. If they gave you exactly the raise you wanted, congratulations! If not, evaluate what you got from the negotiation and whether or not you’ll be happy continuing to work for the company—if not, it’s time to start looking elsewhere for a new job.
Author: Hema Akkariki
Associate Consultant
Nevoxel Consulting
