When you want to get a raise, you may think that you can simply ask for it. But in reality, it's not that easy. Negotiating a raise requires practice and research from the start if you want your negotiations to be successful. If you're prepared and organized, you shouldn't be afraid to ask for a raise.
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Method 1 of 2: Negotiating Salary For New Job
Step 1. Do some research on the job you are applying for
Design your resume and interviews to highlight the skills you have and are required by the company. Making the company realize that you are the best candidate for the job is the first step.
Step 2. Know a reasonable salary
Look up salary data for your position, location, and experience.
- You can find this information online at sites such as Vault, PayScale, and Glassdoor. Look for a position that is commensurate with your position and level of experience.
- To estimate the ideal salary at the local level, you can look at the employment survey at the local library, or see the value in the Bureau of Labor Statistics (Bureau of Labor Statistics).
- You can also ask your ideal salary directly to your acquaintances in professional organizations or acquaintances who work in the same field as you. Don't ask them directly how much they earn -- because it might sound rude -- but ask things like "How much do people in such-and-such professions earn, huh?".
Step 3. Know the company's financial condition
Public companies must display their balance sheets, so you can find this information easily. Find news about the company through newspaper archives.
Know that large-profit companies will be easier to "negotiate" than smaller-profit companies. Use this information to your advantage
Step 4. Know your limits and ask for a slightly higher salary
You certainly know how much salary will meet your needs. Ask for the salary you want to earn and think about the minimum salary you want to receive. To give a little breathing room, start negotiations by asking for a salary that is slightly larger than your ideal salary.
Step 5. During the interview, if asked, make sure you explain that your salary is negotiable
Don't ask for a specific salary before you have a formal job offer.
Step 6. If the company interviewing you asks how much you earned at your previous job, don't give an exact number
Giving them an inaccurate number will make them guess what your salary will be, and will often give you a higher salary than if you just said a certain number right away.
If the company asks for your salary, answer with "My salary is quite competitive in the market, and with my skills, experience and work history, I believe I will be compensated equally here"
Step 7. Once you get the job and are offered some salary, make an initial offer
If the starting salary of the company is too low than expected, mention a number slightly higher than your ideal salary to allow bargaining. You may need to lower your salary during negotiations, so be prepared to lower your bid number slightly from your original offer.
Say something like: "I'm happy to receive an offer of $38,000, but I believe that with my skills, work history, and competitive ability, I can earn $45,000. Can I earn $45,000 for this position?"
Step 8. Wait for a counter offer
The person who gave you a salary offer will probably stick with the initial offer. If so, politely re-emphasize the salary you think is appropriate: "I think $45,000 is appropriate, considering my responsibilities and work history.""
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The person you're negotiating with may stick with their initial bid, or compromise by bidding between your highest bid and their lowest bid. Currently, you have two options:
- Don't give up until you get the salary you want. Emphasize what salary you think is appropriate. This is risky, because if the company is not able to pay you that salary, you may lose your position.
- Receiving a compromised salary amount. Since your desired number is slightly higher, this compromise salary should at least be close enough to what you want. Congratulations, you have successfully negotiated your salary!
Step 9. If salary negotiations are going through a tough time, get creative
Think of other cash equivalents you could earn, such as airfare, inventory vehicles, extra vacation days, or company stock.
Step 10. Once you get the appropriate number from the company, write down the number
If you forget to write it down, the company may forget the value of your salary. Make sure you check the documents carefully before signing them. You can always repeat the negotiation process if you find a fatal error.
Method 2 of 2: Negotiating a Pay Increase
Step 1. Understand your company's compensation rules
Find out if your performance is regularly evaluated and the timing of the evaluation if any. Your company may apply a maximum salary increase or increase the salary of all employees at a certain time, or based on company profits.
Step 2. Prior to the performance evaluation, arrange a meeting with your supervisor or boss
Be prepared to discuss your achievements in the past year.
- Know a reasonable salary. Has there been a change in salary at your position? Have you stepped away from your initial job description and taken on more tasks? Mention these things at your meeting.
- Practice what you are going to say. Don't focus on why you need the extra money, but focus on why you deserve it.
Step 3. Improve your bargaining position by finding another higher paying job
You don't have to accept the job at first, but an offer of a higher paying job that you can take into salary negotiations will greatly improve your bargaining position. Instead, look for work when you already have one, not the other way around.
If you start looking for another job, you may find a more suitable environment and offer for you. Endless job search will always help you. You don't have to accept the job offer, but you may find an offer that feels too good to pass up
Step 4. Make your case
Explain certain business reasons why you should get a raise. Are you being paid too low a market salary? Is your performance above average and do you make a big contribution to the company? Whatever the reason, explain it in language that is easy to digest and sounds firm but convincing.
Step 5. Keep your intentions
If you don't get a raise, ask why and how you might get a raise in the future. Suggest other alternatives, such as bonuses, incentives, or other benefits. Ask if you can get training money to show that you are serious about your job.
Step 6. If your attempt fails, keep a smile on your face and thank your supervisor for their time
Getting angry or being aggressive when your raise is rejected won't help you. If you feel that your work is under-appreciated, you should look for a new job that pays you the market price and values your performance.
