Regardless of how you like your job and how much pleasure you get from doing it, you should be aware of your value. You should be adequately compensated for a job well done, whether you are just applying for a job at a particular company or already have several years of experience with it.
It turns out that most candidates and employees avoid asking for a raise. This is mostly due to fear, but in the worst-case scenario, your request will be rejected or replaced by another offer. You shouldn't be afraid to fight for something you deserve, especially if the quality of your work is above the standard norm. In this article, we will show you how you can conduct salary negotiations.
Why should you initiate a salary negotiation?
If you take an interest in the issue of your development and come up with the initiative, there is a much better chance that you will get a raise. Most employers have a lot of responsibilities and don't always have the time to think about who deserves to be recognized. If you come to your boss with a question, you can only gain, not lose.
In addition, you will show initiative by doing so and show that you know your value. Your employer will see that you care about your development and will have a chance to give you more responsible duties and even a promotion. The joy you will feel if you succeed can be a great motivator to continue working and will make you feel more pleasure in doing it.
Salary negotiation tips - how to negotiate a raise?
1. Do the research
You can ask for a raise at the place where you have been working for a long time, or by applying for a new job and negotiating the terms of employment. This is a big step that you need to think carefully about and plan well.
Your first step when negotiating salary should be to do thorough research on salaries in the labor market. You should check exactly how much a person in your position with similar responsibilities to you should earn. You can compare job offers from your competitors or find out from your colleagues. You should know the range of money and stick to its upper limit for salary negotiations.
HERE you can read about the best job search sites that you may find useful in your research.
2. Plan the good timing
In this case, choosing the right timing is already half the battle. You can't hit your boss asking for a raise blindly. Such talks are best started right after the weekend when everyone comes to work fresh, rested and full of energy. Besides, it's worth remembering that usually once a year, a company plans its budget for the following year. Usually then raises for employees are also determined. Therefore, it is worthwhile with your proposal for a raise to go to the boss before the budget plan for the next period is created.
Once in a while, there is also an evaluation of employees' work. If you perform positively in it, it's a good idea to go out with a proposal right then. Your contribution to the company's development and commitment to the work you do is then known in advance. Especially if you have been successful in the recent period, and you have been noticed.
Another good time to negotiate a raise is when your contract ends. If you and your employer want to continue working together, this is an ideal opportunity to negotiate the terms of a new contract. In addition to those mentioned, it's also a good idea to consider talking to your boss when you receive a competitive job offer and when the company you work for is growing rapidly and has the resources to put into its employees.
3. Don't lower your value
Another one of our salary negotiation tips is, when suggesting the value of your paycheck, be sure not to lower your value. If you are asked how much you want to earn, give the highest amount from the range you searched earlier. Usually, your proposal will not be accepted the first time, but this is a very good negotiating technique. If you agree to a slightly lower amount proposed by your boss, he or she will feel that you are making some sort of compromise by coming down from your original proposal. This applies to negotiating for a raise as well as negotiating a job offer at the same time.
4. Prepare a list of your accomplishments
When preparing for a job interview or a raise, you must prepare a list of your accomplishments at the time. You need to show that your request is not due to a grimace and that you have concrete results to back it up that make you deserving.
5. Show up prepared
You should practice and think through what you want to say to an employer at least once before talking to him. This will show that you are serious about the matter and demonstrate responsibility and reliability. Your interlocutor mustn't think that you are just wasting his time with unnecessary topics of conversation.
6. Have specific arguments
You must justify your request for a higher salary with work-related arguments. You shouldn't mix your personal life with your work. Furthermore, you shouldn't talk about a difficult financial situation, a sick family member, or a rise in food or fuel prices. You need to cite your skills, achievements, and competencies. Show how much value you bring to the company, and don't be afraid to praise yourself.
7. Take care of non-verbal aspects
In addition to preparing your speech and arguments, you must also take care of the non-verbal aspects and your attitude. First of all, you need to look elegant so that your interlocutor knows you are serious about the issue. You also need to be confident in yourself and your words. Take care of appropriate facial expressions and gesticulation. Your body language plays a huge role in how you are perceived, so you need to make sure you have a professional attitude.
8. Be gracious
Even if your offer is rejected, you must accept it with tact and understanding. If you meet all the requirements that could guarantee you a raise and still fail to get it, you need to put yourself in the other person's shoes. Maybe the company at the moment can't afford such an expense, or you're not as good an employee as you think you are.
The best thing to do is to ask your boss what else you can do to make sure your offer will be considered favorably in the future. It's important not to hold a grudge and do your best in doing your job.
9. Avoid accepting the first offer
Accepting the first offer offered is usually not a good move. Just as you will suggest the highest salary and best benefits, your employer will start at the bottom end. You need to meet your requirements somewhere in the middle. Negotiate and try to provide the best terms possible.
10. Be open to compromise
If the salary you suggest is not an option, try to supplement it with some employee benefits. Compromising can put you in a good light in the eyes of your employer and increase your chances of getting a better offer in the future. You can't cling to one version, try to adapt to the circumstances on an ongoing basis.
How to negotiate a salary in a new job?
You can also apply most of the above tips when trying to get a good contract in a new job. However, remember that in this case, the first impression is the most important. You need to show your capabilities, achievements, and successes to the best of your ability, and the value the company will gain by hiring you. In job offer negotiation, don't be afraid to put your terms, because you deserve the best possible offer.
Salary negotiations for a new job is different because you can say thank you at any time, leave and look for a company that meets your expectations. However, you must take into account not to overestimate yourself too much. If your requirements are too high, you will end up without a job and money.
Need help preparing for a job interview? Click HERE.
How to negotiate salary in email?
When you want to negotiate salary, there are many ways to do it. One of them is negotiating salary by email. This is a better way for people who are shy and nervous. However, there is also a risk that the written word will be misinterpreted by your recipient, so you need to carefully craft the content of your message. You need to be polite but straightforward, you need to state your expectations directly and leave nothing to guess.
Unlike in a face-to-face conversation, the recipient's reaction is not immediate, so you need to convey all relevant information and requirements in the message. You also need to show respect in the email addressed to the recipient, use polite phrases and formal form. Incorporate the advice we've presented and pour it into your message, and you certainly won't regret it.
Whether you're on a job interview or applying for a raise at a company where you've worked for years, negotiating salary offers is always a big challenge. We hope our article has given you some insights into how to negotiate a salary.
