How to Negotiate your way to a Higher Salary in 6 Simple Steps
You have succeeded in getting a job and negotiating your salary. A year has flown by, and you have proven yourself to be a superstar. You hope the long hours and your awesome work will pay off eventually. However, it won't happen unless you ask. So how exactly how do you breach the topic and start that tricky conversation? Asking for a raise can seem intimidating. Thankfully, there are a few tips to help you negotiate your way to a greater wage.
Show Off Your List Of Accomplishments
Raises are typically given when someone goes above and beyond their call of duty. It is a way to show recognition for a job well done. If you are seeking a raise, the best thing you can do is come prepared for your meeting. Have a copy of your job description and take note of every time that you have exceeded that by writing down specific notes.
Perhaps, you constantly surpass your sales quotas or maybe you take over extra tasks when people are away. Having the data to back up your claims instead of simply saying, "That you have been there for 12 months," is not enough to earn a raise.
Timing Is Essential
If your boss has been having a lousy day or if your company just lost a major client, this may not be the best time to ask for a raise. If you pick the wrong time to launch your proposal, all of that time and energy you spent preparing could potentially be lost.
Don't Get Emotional
Even if you have pressing financial issues and could really use the extra cash, your employer doesn't care about your student loan payment or your rent increase. Stay on topic and focus on the job performance reasons why you deserve a raise.
Do Your Research and Present It Accurately
Conduct your market research and use the correct comparables. This is one of the easiest mistakes to make. Look into experience levels, job descriptions and geographic factors when comparing salaries to ensure you are on par. For instance, you may currently have the title of a senior marketing manager at your current job; however, if you only have two years of experience or less, this may land you an associate-level job somewhere else.
Consider Other Types of Compensation
For certain companies, particularly fresh start-ups, it can be difficult to offer raises. Think of your salary as a portion of your complete compensation. It can contribute to a pie that includes paid vacation days, stock options, fringe benefits and performance-based perks like company vehicles or cell phones. If more cash is simply not an option, get creative and brainstorm.
Have A Flexible Timeline
A phased-in approach is one of the negotiating tools that can help you get the salary you crave. For example, if the business is unable to offer an extra 5K now, what if they could give you 2.5K now and the other half in a few months? Ensure you get any plans and verbal contracts in writing to ensure that you and your boss have a clear understanding of what you both agreed upon.
Stay Calm & Be Patient With Yourself
Understand that these conversations are difficult for everybody. It can be hard to talk about money for many people. Spend some time rehearsing what you will say in your head. Enlist in the help of a friend to practice your pitch.
Alternatively, look in the mirror and go over your speech. It is essential to come across as confident, and you need to remember that. Presenting a well-thought-out argument is important. Make sure you sit up straight and maintain eye contact as you deliver your wage negotiations.