Does the company you work for underpaying you? Are they using your values and skills without giving you a proper compensation plan? Now is the time to negotiate your salary and build an evidence-based case for the salary you deserve. In this article, you will learn how to negotiate your salary and earn a better living for all your work. You will as well find out your objective value from job market data and best practices for salary negotiations.
What are Salary Negotiations?
Salary negotiations are discussions between an employer and a prospective employee or an employee. The essence of this discussion is to help you secure a higher salary. Before going for salary negotiation, do the followings:
- Build your case: Prove to your employer or prospective employer that you are worth investing in. show some examples of how skillful you have been especially with your previous jobs.
- Face some resistance: be ready to answer questions like ‘’why do you want an increase in your salary?
- Be firm and flexible: The whole discussion can only go well if you are firm and flexible. Make some compromises and accept certain facts but at the same time, be firm about what you want.
Why is it important to negotiate your salary?
It is part of the employment process and it is only right to ask for what you deserve. It is a great way of advancing your career. Your salary shows how well your company appreciates your work and value. There are perks and benefits packages you need as an employee. They include:
Training, Professional Development, and Certifications: if you are career-minded, negotiate this with your employer. However, not every company gives certification programs.
Mentoring and coaching: this can help you attain professional growth and interpersonal relations.
Health and Fitness: your employer should give you certain health benefits and stipends.
Child Care: child care is stressful and expensive. You can negotiate for your children for a better working condition.
How to find your worth
It is best to find out what people earn for your job in other places before negotiating for a salary. This will greatly help you. Even though each firm pays its staff as they desire, there must be something that should be generally acceptable. To search and know the range of salary you should be paid, do a search on Glassdoor’s salary search. It will give you a lot of baseline information.
Compare the compensation plan the company has with your findings to know if it equals what you deserve. Knowing your market worth helps you to make an estimate of what you deserve. It is also important to present this in the negotiation.
Tips for effective Salary Negotiation
- Have a salary range, not a fixed price. Be reasonable in the range you have.
- Do not sell yourself short. Include the benefits as part of your total compensation and don’t leave anything behind.
- Do a little practice on the discussion before the actual negotiation.
- Show self-confidence in your delivery.
- Be very gracious, appreciative, and thankful for the work even if things do not turn out in your favor.
Use Questions like
- Can I negotiate this offer?
- Ask for other negotiable options in terms of insurance, leave, training, child support, and lots more.
- How did you calculate this number?
- What is the outlook for salary raises or promotions?
- What metrics do you use to evaluate the success of employees?
- Can I get the salary offer in writing?
To negotiate a raise, leverage on internal moves such as why the company wants to promote you. Choose your moment; be firm and persuasive when stating your case.
What to do after a salary negotiation
Whatever the result of the negotiation is, be thankful. Expect more responsibilities and become more resourceful. Make sure that you get the new salary in writing.
Further, after the negotiation, your boss will begin to respect you more and value your input. Do well to become more skillful. This will not be your last negotiation. In the future whenever there is a need for that, negotiate your salary. Lastly, make sure you are always reasonable when negotiating.