by Akansha Arora
Negotiating your salary can be tricky – whether you are aiming for a raise or have been offered a new job. Many of us shy away from negotiating salaries in order to not complicate matters. But, negotiating your self-worth is crucial. Failing to do so can cause you huge losses.
Whatever reasons you may be reluctant to negotiate, you need to ask for what you deserve.
To navigate through the deadly process of salary discussion, here are some steps to follow:
The first step to negotiating a salary is to consider the timing. If it is for a new job, you should discuss it is when they are interested in you rather than after joining. Employers usually expect that there will be some negotiations before the person actually accepts the offer. Do your market research and have a comfortable range in your mind before you start discussing this with your future employer.
Considering the next case, if you are one of those who have been in a job for long and now desire a raise, consider if you have had new roles or responsibilities or have you successfully completed a project lately? If you have, then this might be the correct time to ask for a raise. Bring a positive attitude in the discussion suggesting that you are committed to the company in the long run. The discussion should reflect your recent achievements and the value you have created for the organization
Do Your Research
Once you know the correct timing, you need to do some homework. Google about market trends, industry insights and what is going on in your field. Consider your location as salaries widely depend on the cost of living of a particular city or locality.
You can also reach out to your professional network asking them to validate a salary range rather than relying solely on website information.
Talk Boastfully About Your Achievements
When you are know what salary you are asking for and have sufficient data to support your value, it is time for you to begin the conversation. Talk about the value you have added or would be adding to the company business. This is the time to demonstrate your skills, how have or will increase productivity, efficiency and customer satisfaction. It is time to talk about what you have achieved in your years of experience.
Revise your resume before you submit it so that it is in line with the benefits you are able to offer and employer.
Do Not Compare Yourself to Others
“I should get a raise because ABC makes this much”
Avoid any type of comparison when you are in conversation with your employer for a raise. This is the last thing they want to hear. Comparing does not make sense as you have no idea about the factors that determine someone else’s salary. Stick to yourself and only talk about valid reasons why should you be given a raise.
Determine your needs and employer’s budget and then based on your searches quote a suitable range. You can also ask for a range from the employer before you tell them your expectations. This would give a little more leverage to negotiate on the higher end of the range provided by the employer
Keep Your Calm
No matter what happens, do not lose your calm. Your salary negotiation can be successful and it might not be. In case your employer does not support your request, have in your mind the possible next steps. You could probably:
- Wait for six months and revisit the issue
- Ask for variables or other perks like vacations or paid leaves
- Ask for more responsibilities so that you can justify the raise
If none works, always end your conversation on a positive note so that future doors are always open.
In the End
Negotiating is not easy. It was never and it never will be. These steps, however, can be convincing enough for an employer to consider your request. If you can successfully prove to your employer that you are worth the raise, you are most likely going to get it. Stay aware, stay updated and stay calm for a successful salary raise discussion.
Akansha Arora is on Twitter @akansha28