Does the thought of negotiating salary with your employer fill you with dread? That’s not unusual, and studies indicate that around one in three employees never bring lip the subject of a raise. Negotiating salary with an employer is something many people aren’t comfortable doing, but it can make a big difference to how much you earn over your career. in the case of a new role, some fear they won’t be selected if they ask for too much. Negotiating a salary increase mid-term can also fill some people with dread. If you have a good case to justify a raise, It’s only fair that you’re paid what you’re worth.
Discussing salaries with your employer can actually result in increased confidence in your ability. It may be a rare opportunity to remind people what you bring to the organization and how they would struggle to replace you. At worst, all you really have to fear is refusal. In this situation you may need to consider whether it’s time to take your skills and experience elsewhere. The following tips will help to increase your chance of success when it’s time you need to negotiate your salary.
Do your homework
Having some facts and figures puts you in a strong position in any negotiation. You may feel that you’re worth more to your employer, but what evidence do you have to support this? The Internet Isa treasure trove of data, and it’s a great place to research average salaries in your role and industry sector. If you work for a large organization, look at current and recent vacancies and see how the salaries compare with yours preparing a list of the things you’ve delivered for your employer Is also a good foundation for salary discussions Approach It as a business pitch. Have you contributed to an Increase In revenue, a reduction in costs or some other tangible benefit to the organization?
Don’t make it personal
Your employer probably doesn’t care if you’re struggling to pay your bills every month, so don’t refer to your personal circumstances in salary negotiations. Concentrate on what your role is worth and what you bring to the business If you’re delivering more profit, it’s fair to request more financial rewards. The fact that you want more money for vacations or to help your children through college doesn’t mean you deserve a raise.
Practice your approach
You may only get one shot at making your pitch for a bleier salary, so practice your approach. It’s worth role-playing the meeting with a friend if you can. Consider how you’ll lead the discussion tip to the point of talking numbers, and have a figure and salary package in mind. Be clear on the outcome you want, and consider what questions your employe may throwback at you.
Have a ‘Plan B’
Approach a salary negotiation meeting positively, but don’t expect to get what you want the first time. Having a plan B In mind means discussions won’t hit a wall. A refusal may be because the company can’t afford to give you a raise or because there’s a strict policy of reviews at set dates. If a raise now isn’t an option, what can your employer offer you as an additional reward? Can you agree on a pathway to a raise If you meet spedflc goals over coming months?
Keep it professional
It can be frustrating if you have a good case for a salary increase and it’s refused, but keep discussions professional. Threatening to leave, criticizing co-workers or bad mouthing the company won’t help your case. If the person you’re negotiating with feels intimidated, it could cast a shadow over your future with the company. Surveys indicate that wound one In three people never bring up the subject of a salary review with their employer. The biggest reason for not doing so is fear and the thought of rejection.
If you follow the tips in this article, you should reach a positive outcome with any reasonable employer. Good luck! Keep reading, and don’t forget to subscribe our newsletter, we are penning down so meticulously from every nook and corner of the Internet. Get the latest posts delivered right to your inbox.
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