When it comes to the topic of money, even in the workplace, many people aren’t sure how to proceed. It can be a daunting and challenging topic, but one that is incredibly important. So, today we would like to offer five tips to consider when negotiating a higher salary.
We have spoken before on the topic of salaries, and when the best time to broach the subject is during the interview process. However, once you have excelled at your position, and have the expertise and examples to support your request, there is no reason to sell yourself short.
Know your value
When you have decided that your skills, time at your job, and your overall experience has put you in a position to negotiate a higher salary, it is key to know your value. While it can be tempting to talk about why you need a raise, this isn’t beneficial to your negotiations. Rather, you want to focus on what you have accomplished that has benefited your position, team and the business or organization.
Be prepared! Make a detailed list to highlight how you have added value. Use examples to show your accomplishments. Companies want to see you as an investment and someone that is worth their time and money. Therefore, sell yourself. Your skills, knowledge and expertise are the best way to market yourself towards a higher salary.
Use effective communication
In many instances, you may be concerned with being liked, or worried about seeming greedy. When this happens, you work so hard to be agreeable that you don’t advocate for yourself. There is a happy medium where you can communicate powerfully and effectively, without coming off as arrogant or abrasive. It is important to know what you want to achieve and link those goals to the benefits of what you bring to the position and to the organization.
Be specific in your ask
Before you begin negotiations, be specific about what you want and, in your ask, so that you can effectively communicate those to your manager or supervisor. For example, don’t offer a range for a salary. Rather, give specific numbers. If you offer a range, they will likely go lower. What is your ideal number and why that number is fair? You want to base this on research on industry averages. Also, what is the lowest number you would consider, as you don’t want to undersell yourself.
If they can’t negotiate your salary for any given reason, consider your best alternative. This could be more vacation time, remote work, or professional development.
Have a strong presence
Many employees wait until they are invited for a meeting before they consider salary negotiations. For example, don’t wait for an annual performance review, seize the moment to create a window of opportunity. When you are in the negotiation meeting, take control of the conversation and sell yourself. Set an agenda, don’t be afraid to ask questions, and for further clarification if needed. Be sure to let them know what your intentions are and show up prepared.
Be collaborative
During negotiations, you want to encourage collaboration from your supervisor or manager. While you want to convey the necessary information, you don’t want to have a one-way conversation. Therefore, ask questions that draw interaction.
Actively listen to what your supervisors are saying, and how they feel about going forward in this salary negotiation. Create an environment that encourages you to work together to agree on a contract you are both satisfied with.
While we understand this conversation can be a tricky one, we want to encourage you to know your worth, and advocate for yourself. If you have questions about salary negotiations, or your resume, please contact our team today.