This Is How You Negotiate A Higher Salary
It’s a common scenario. You have worked at the same organization for a while now, you feel like you are going above-and-beyond your current job description, and you may feel under-valued. So, you have decided to ask for a pay raise or higher annual salary.
Then, you start to get worried and wonder how you are going to ask for the raise, you may begin to doubt yourself, or-worse yet-you decide to just leave everything as-is and don’t ask for the higher salary-at all.
You CAN negotiate for a higher salary or pay raise. You ARE worth it. But, to be effective in your negotiation or ASK, you have to have a plan. Setting a strategy and knowing exactly what you are going to say and HOW you are going to say it will be the key to your success. Check out our five strategies below.
Know the going rate for someone in your role.
To do this, you will need to conduct research for someone with your title, in your geographic region, and with similar amounts of experience. If you ask for $75K per year and the average for your area is $90K, you may sell yourself short. By contrast, if you ask for $90K and the average is $65K, it will look like you haven’t conducted your research.
Consider more than salary
There are a lot of things to evaluate when reviewing a job offer. Does the organization offer insurance benefits, PTO, sick leave, or tuition reimbursement? These are important considerations and may end up being more valuable to you than the additional pay. If a company is willing to pay extra for your insurance or provide you with an extra week of vacation, don’t say ‘no’ immediately-instead, figure out the worth of that to you and your family. You may be surprised at the offer.
Tell the company what a raise would mean for the organization.
They know why you are negotiating-you want a pay raise, more vacation time, or another perk. Explain how much you enjoy your current position and what the new arrangement would mean. In addition, if you are open to additional responsibilities, definitely mention that, too – it’s an added bonus for the company.
Now is not the time to be timid and shy. If you are asking for additional money, then you need to know that you are worth it. Bring in examples of your past work accomplishments and what that meant for the company. Show how a win that you secured is a win for the entire company.
Practice with a trusted colleague
While you may have done your research and feel confident, it’s always a good idea to practice with a trusted colleague or friend. Choose someone that will keep it real with you and offer honest feedback. A mock salary negotiation will put you in the right frame of mind for the real thing.
Keep in mind that the job search, salary negotiation, and overall job-searching process is a way for you to showcase your skills, competencies, and abilities in a professional demeanor. From your resume to your interview, and the final negotiations, maintaining professionalism at all times is of the utmost importance.