Salary negotiation can be complicated.
Everyone feels butterflies when they approach their bosses to ask for a favor. But what about asking them for a raise in salary? It’s not something you want to make them feel greedy or selfish.
Unfortunately, employees tend to avoid talking about discontent with their compensation because it could ruin their image as loyal and passionate staff members.
Right. Your company won’t be able to play Mother Theresa. You might be the type of person who needs the motivation to complete complex corporate tasks. You might not be human. Robots can only work without being compensated, and companies know how productivity will be affected by you not getting your rewards.
Asking for a raise is better than grumbling in your cubicle about it and not expressing your feelings. If you genuinely believe you deserve more, be bold and vocal with your employer. Let your reputation take care of. These tips can help you to negotiate a salary that is fair.
1. When you are just hired, it is the best time to determine your price.
If you’re an experienced professional already, you can base your compensation on the current salary and increase it by 5% to 10% if it is worth it. If you are new to the industry, it’s better not to reveal your expected income. Try saying something modest like, “I’m more interested to learn from my first-hand experience in this company. I’ll consider any reasonable payment.”
2. Do your research
Instead of asking your friends or relatives how much they make, look to more reliable sources. Find a trusted information portal that gives you an accurate range and check if it’s correct.
3. Do not tell anyone why you are asking for a raise
Instead, present solid statistics. Your employer should be able to see the industry averages and the job demand. Name a reliable source, such as a website or files from another company. You should never appeal to them and tell them that you need a raise for a sick relative. This will only ruin your professionalism.
4. Other options are available
If the company doesn’t like your numbers, be prepared. You should explore other options that might work for you both. Accept stock options, flexibility, allowances, and any other benefits that they might offer.
5. Even if you are refused, keep your head up!
You will get a bad reputation for showing your dismay. Instead of spending your energy on sour-grasping and wasting your time, ask them what they can do to improve their chances of getting the raise you want. Spend more time and effort to make sure they believe you are worthy of the raise.
Be confident in yourself. Show them that you believe you deserve more. Talk your mind during salary negotiations so they can see you as a significant company asset.
Let’s face it, and if you don’t know how much your services are worth, then you should wait for others.
Nelly Marshall, a veteran career author, has been producing career development materials for many recruitment agencies across the U.S. for more than a decade. His leisure time is spent in sports and photography.