Negotiating your salary can be a tricky situation. Some people enjoy negotiation, while others struggle. However, just like networking, negotiation is a vital part of your work career. If you have been planning or contemplating about how you can negotiate your salary raise but don’t know how we’ve got some useful tips that can help you in the process.
Negotiation is a Skill
Negotiation is a method by which people settle differences. It is a process by which compromise or agreement is reached while avoiding argument and dispute. To become a strong negotiator takes a lot of research, above average debating skills, and most importantly, practice. If you don’t have the right strategies for negotiating, chances are your employer or hiring manager will just control the conversation and you won’t have a favorable result.
How To Negotiate Your Salary Raise
You’ve been working hard for your company, have achieved a few significant milestones, and now you’re ready to negotiate your salary raise but don’t know how to. Here are some tips you can use:
Know Your Value
Before you negotiate your salary, do some research. Find out the average salary for those who have the same role as you. There are many sites out there that can give you a good range, like Glassdoor.
Timing is everything, so try to time your negotiation at a favorable time. Try to set up a meeting with your boss after a successful project, or through your annual or quarterly performance review. Lay out all your achievements and what more can you offer to the company.
Showcase Your Work
This is why having a portfolio is essential in your work, whether it’s for the application process or when you’re negotiating your salary raise. Update your work portfolio and highlight your work – achievements in the company as well as training/seminars you’ve attended.
When you’re negotiating your salary, it means that you’ve already done your research and you know that you are worthy of this raise. Present your case and try to be firm – be clear on what you’d like to receive and flexibility you’re willing to take. Stand your ground while still being polite and courteous.
Once an initial agreement has taken place, take some time to consider the offer. If you think the offer is fair, give yourself at least a day to think it over. This strategy will also help take control of the situation.
Remember these tips, and with some practice, you’ll be able to achieve the salary raise you deserve.