Tips You Need To Know When Negotiating Salary
Are you thinking of getting a pay raise on your current job? Most people assume that this is totally out of their control, but it is not. Talking with your boss to convince why they should increase your pay is not a pleasant thought for most of us. What if the boss gets upset? What if they say no? Whether I deserve a pay raise? These are the thoughts in your mind now.
You can actively influence your pay raise through negotiating correctly. Here are some tips that you need to know when negotiating your salary,
Tips Before the Negotiation Discussion
- Do Your Research Properly
- Gather All Your Achievements
- Maintain Strong Professional Relationship with Your Employer
- Practice Before Negotiation Discussion
Tips During the Negotiation Discussion
- Be Specific on Numbers
- Discuss on the Future Growth During Negotiation Discussions
- Ask Opportunities to Shift to a Different Role
- Be Calm and Confident During Negotiation
Tips after the Negotiation Discussion
1. Do Your Research Properly
Do you know how much worth of a job that you are doing currently? Finding this is really essential. You can do some online research easily. Salary.com, Payscale.com, Averagesalarysurvey.com, and Glassdoor.com are some websites that would be useful for you. Networking with people in your industry is another good option to get more information. You can also check with your friends and family members to get some information on this if they know.
Try to get some information about how much other people who are doing similar jobs get paid. Make sure that to check this information considering your years of experience, your industry, the size of your company, and the company’s location. Work location is important because the pay-scale of some jobs deviates based on the location where you work. You can have a discussion with your employer, based on this information if required. Also, this will help you to convince yourself whether you deserve a pay raise or not.
You can benchmark yourself with the industry average.
2. Gather All Your Achievements
Identify and write down what you have done in the past on your job role. What were your accomplishments? Have you done any extra mile contributions? What did you learn newly in the past? What would be your potential future growth in the company?
Most of the time, your reporting manager does not have detailed knowledge of all of the positive contributions you have done to the company. They can’t keep track of all the things that are done by all of their employees. Even it is hard for you to recall what you have done in the past. Can you remember all the positive contributions you have done within last year? Not all right? As a practice, better if you could maintain a personal sheet weekly wise that contains these things.
3. Maintain Strong Professional Relationship with Your Employer
Positive professional relationship matters throughout your corporate life. You have a distinct advantage if you have worked with your boss for some time which you have demonstrated your dedication, ownership, and reliability. Every person values and respects the positive relationship.
Always try to understand what your reporting manager expects from you. What are the criteria that your reporting manager used to measure your performance? What do they value most in appraising employee performance? Don’t forget that your performance will impact your reporting manager’s individual performance.
You can easily align your work with the expectation of the reporting manager if you could understand these things more. Your reporting manager can influence your pay-scale with the positional power of the company. Always maintain a mutually beneficial positive professional relationship with your reporting manager.
4. Practice Before Negotiation Discussion
Don’t miss to practice before the real discussion. Usually, company management will participate in the remuneration related discussions of employees. You should highlight your value and your points effectively.
Having small talk with your reporting manager before this big discussion would be ideal. You can understand his/her view about this and also it will be a mock activity for you to demonstrate your points.
Your success will depend on how well you are calm and comfortable during the discussion. Practice what you will say with someone you trust. Ask genuine feedback from them. If it is not possible, you can practice in front of a mirror.
5. Be Specific on Numbers
Be specific about what you exactly needed. Better to keep a buffer to it based on the research that you have done. This will help both your reporting manager and other managers to make the decision correctly. They will assume a number if you try to convince them without mentioning it specifically. In this case, you will not get a response to the question which is in your head.
You should have valid arguments and facts which can back the number that you are proposing. Usually, company management tends to give a less amount than what is demanded. Don’t forget to keep a slight buffer if you think so.
6. Discuss on Your Future Growth During Negotiation Discussions
Don’t forget to discuss your future growth with your management. Discuss with them openly on what you are trying to achieve in your career and what position do you expect in another couple of years down the line? Management will help you to achieve your goals and you could get their mentoring help to achieve this.
Also, this will demonstrate your future ambitions to the management. Also, you could get some feedback on a clear path for your career and to fulfill your compensation-related expectations. Maybe you could not meet your expected compensation within your current job role, but you could if you get the next promotion. Discuss those things openly.
Having open discussions management will help you to achieve your career goals while meeting your expected pay-scale in the future. You can influence your management as this is a win-win situation where you will get career advancements and an increased pay scale while the company is getting a higher level of work from you. This kind of positive attitude will help in your career for sure.
7. Ask Opportunities to Shift to a Different Role
Every position or job in the industry has a defined range of pay. What if your in the maximum of this range and still you want a salary hike? There is a high chance of getting your request rejected in this case.
You can try to shift to another job role which has a higher range of pay. You can request it within the company. Then it will be easier because you are already comfortable with your current company. Let’s take an example:
See below two examples given on two job roles related to the Information Technology field in the US.
|Work Location||Job Role||Average Base Pay Per Annum|
|Los Angeles, US||System Support Analyst||$71,417|
|Los Angeles, US||Software Engineer||$91,469|
Both of these roles require the same level of education but different skills. But an employee can switch between these two roles with a bit of hard work. There can be plenty of examples like this in your industry. Search about those.
8. Be Calm and Confident During Negotiation
“If you have no confidence in self, you are twice defeated in the race of life.”– Marcus Garvey
Self-confidence will highly impact your influence power on others. Be confident in your values. Have strong confidence in your past achievements. Be confident that you are contributing to your job role more than what you are earning.
Discuss your points in a clear and precise manner. Always talk with facts and examples of your achievements. Be positive for a win-win conclusion for both parties. Be open on to discuss extra things that you could do and your willingness to do in your job role. Talk directly about promotions and why do you think that you are eligible.
Don’t forget to ask management feedback on the work which you have done. This will demonstrate your likeliness on continuous improvement of yourself. Accept your mistakes and underperformance, if management says those. Discuss openly the ways in which you can correct those in the future. Do not be emotional about these things. Remain calm and positive.
All of the above will demonstrate your self-confidence.
Don’t Forget to Thank
Congratulations! Don’t forget to thank the management if your expectations have been met after the negotiation discussion. Your employer has given you a pay raise expecting that you will keep contributing to the company. Do your job well, maintain a professional relationship, and always create a win-win situation.
What Could You Do if the Answer is Yet “No”
Even though you strict with these eight tips, there is a chance for you to get the answer as “no”.
- Do not be emotional about the situation. Getting angry is not the answer to your question. Be patient and make clear decisions before you speak further.
- You can always ask the reason politely form your management. This will help you to understand the opinion of the other side. Also, you can correct your mistakes and re-negotiate at a later time.
- Don’t forget that you can also choose to find another opportunity elsewhere. If you think the decision and the justifications are unfair, then don’t be hesitated to find another opportunity. Be prepared to leave and don’t be afraid to walk away. This world has full of opportunities for talented personalities.
Hope that these nine tips will help you to negotiate your salary with your employer effectively.