Are you happy with your job? Do you wish you could make a bit more money? Is it time to ask your boss for a raise? With the right salary negotiation tips you’ll be much more likely to get the raise that you deserve.
It can be intimidating to ask your boss for a raise, but salary negotiations are part of the game. LifeHacker.com claims that without proper salary negotiations tactics, you may miss out on over $600,000 during the course of your career! That’s a lot of money. Remember, if you don’t ask for a raise, you won’t receive one.
Before you go into the boss’s office and demand a raise, do your homework and make a game plan. Timing is important. The best times to negotiate your salary are before you accept a job offer or during an annual performance review.
Whenever you choose to negotiate a higher salary, utilize these salary negotiation tips:
- Know How Much You Are Worth – What value do you add to the company? How much do other people in your job, in your region, and in your state make? You can find this info on websites like JobMonkey.com, Salary.com, PayScale.com, or GlassDoor.com. It can also be appropriate to ask advice from your co-workers and colleagues.
- Determine A Specific Salary That You Want – Based on your research, your experience, your location, and your company’s current situation, determine a specific salary that you think you are worth and that you might be given. Be realistic.
- Prioritize Your Requests – Have a plan in case your boss offers you a salary that’s lower than expected. Be willing to negotiate beyond a simple dollar figure. Remember that benefits, vacation time, stock options, telecommuting, and other factors all fall into the compensation category. You can negotiate all of it.
- Write Down Why You Deserve A Higher Salary – Your research will help you determine how much you should make, but you also have to convince your boss that you deserve that salary. Note quantifiable data from your past performances, your experience, your enthusiasm, and your work ethic. Write it all down with bullet points and action verbs. Bring a copy to your salary negotiations. Treat this task like writing a resume. You have to sell yourself.
- Negotiate In Person – Schedule a meeting with your boss. Find a time that’s mutually convenient for both of you. Always do your salary negotiations in person, not via email, Skype, or social media.
- Keep It Professional – Always base your request on performance, not personal considerations. It goes without saying, but always be honest too.
One other thing to keep in mind is the psychology of salary negotiations. It’s smart to let the company make the first offer. This way you can either accept it or put out a counteroffer. It puts you in a position of power.
If your boss is unreasonable and unwilling to negotiate at all, maybe it’s time to find an employer who is willing to pay you what you are worth. If it’s time for you to start a new job search, head over to JobMonkeyJobs.com.
When you’re negotiating a new salary be confident, persistent, and persuasive. Sell yourself. You need to be prepared and have your arguments well thought out before you go. This is the key to getting what you deserve.