A job demands a lot of energy and takes up a large portion of life. We all know that.
However, employees deserve to be compensated well for all the time, energy and focus they invest in it. Unfortunately, many people don’t often get what they deserve from their occupation.
This can be because of company policies or because they fail to negotiate their salary up front. People are so grateful to get work in this competitive market that they don’t want to risk losing it by negotiating a salary that works for them.
But many recruitment experts recommend it and offer guidelines on how to negotiate salary increase for a job offer.
Here are some points that can help:
Negotiating is OK and Good Employers Respect it
Confidence in your ability and worth is essential if you want to get a better salary.
Most prospective employees are too nervous during the negotiation process, which can shift the balance of power and compromise the entire process.
Employers usually expect good candidates to recognize their worth and negotiate.
In fact, they are more likely to hire an employee that is willing and confident enough to do so. If you know what to say when negotiating a raise, there’s a high chance of a better offer than the initial salary.
Do the Research
Employees can’t negotiate if they don’t have enough information regarding the prevailing standards when it comes to salary and compensation. Most job seekers spend ample time preparing for an interview but don’t look into the average salary or seek information from reliable sources.
It’s a good idea to get in touch with ex-employees, look at what competitors are offering, and contact other people working with the company for information.
This gives you a baseline for negotiation and allows you to determine how much you want.
Burden of Proof is On You
Employers won’t admit you deserve a raise or higher offer just off the bat. They must be convinced that your skills are valuable and will contribute to their company’s growth or profits.
Create a list of all accomplishments, including everything from educational qualifications to passion projects.
Showcasing a wide range of skills, experience, and successful endeavors will convince prospective employers that you might merit a higher salary. Try to showcase or highlight skills that are particularly relevant to the company.
For example, if you’re applying for a graphic design post, show any traditional artwork you might have created.
If you have participated in successful projects, been in leadership roles, and reached a target in a stipulated time, it’s a good idea to highlight these factors in your resume. This shows you don’t just have skills, but can implement it to get quantifiable results.
Plan how to negotiate a salary increase at an annual review before going into negotiations.
Time the Pitch Right
Timing is everything if you’re negotiating salary with an employer during a promotion. This can be done after you have performed particularly well on a project or have delivered consistent performance over a longer period of time.
Negotiations can also be carried out immediately after a good annual performance review.
There are many guidelines on how to negotiate a raise during review available online but the easiest way to go about it is to set up a formal meeting, highlight your contributions, and politely request a raise.
Create a Letter
Some people find it more comforting to send a letter to their employer or prospective employer in advance. This letter can contain details regarding your skills, contributions, and reasons for requesting a higher salary.
This letter can also contain a request for a formal meeting to carry out negotiation, which allows you to break the ice in advance and focus on salary negotiation immediately during a meeting.
It’s easy to find a negotiating salary increase sample letter online.
Pick the Right Price
Don’t pick a vague salary amount because that shows uncertainty. Pick a precise amount based on your current state of finances, future plans, and industry standards.
Showing why you need a certain amount will hold some sway over an employer’s decision.
It’s also a good idea to provide a narrow range for salary. For example, you can provide $50,000 to $58,000 as a range. While this might seem like the opposite of providing a precise number, it does work in certain situations.
Consider Negotiating in Perks
Sometimes money isn’t the only benefit to consider.
Perks and concessions can improve quality of life and overall work satisfaction so they’re worth compromising on a higher salary. For example, some employees negotiate for flexible work hours, more vacation time, tuition reimbursement, telecommunication options, stock options, etc., during internal promotion salary negotiation.
Many people value these comforts over a small increase in salary.
No matter how well-planned your approach is, there’s always a chance that an employer will say no. While this is disappointing, it’s important to keep cool and ask why so you can work on the issue and reopen negotiations later.