Salary is one of the many reasons why workers keep doing their job. So, what if you work hard, but are underpaid? When you feel that the proposed salary doesn't align with your qualification, your education, or your workload, then negotiate for a raise.
Related Post: How to Reject A Job Offer Politely
Tips on Negotiating Your Salary
Negotiating a salary is more common than you think. But if it's your first time doing so, here is our advice on how to negotiate your salary, hopeful to help ease your nervousness about a confrontation.
1. Consider Your Qualifications
Just because you can negotiate doesn't mean you can ask whatever you want. The first case is the abuse of the right, which is not a good thing. If you ask more for something you are not worth for, your negotiation might fall apart. So, to avoid it, you must know your worth are and what you have to offer for the company.
So, there are many considerations or factors that you can use to get a higher paycheck. It can be your education level, your working experience, your geographic location, skills, career level, license and certification, and so on. When you find out that your qualification is way better and deserve more, then don't hesitate to negotiate.
It is worth to know that the higher your education, then the bigger your chance to get compensation or raise. It is also about your experience. If you do have a higher requirement for the job description mentioned by the company, tell them that you have exceeded their expectations. Thus, you deserve a better salary as well.
2. Have A Benchmark Salary
After you know how good you are, then start to search for the market average. The idea of this second tip is to understand the baseline of your wages. Get the data and use it as your justification or proof that you deserve better. There is plenty of information regarding the average salary for a position and works.
You can match them with your qualification and your job desk. So, how much should you haggle? The idea is not to always get what you want, but to get what you deserve. In this case, find out the national average salary. You can also look for the average wage in your city, or compare the salary with the similar companies around you.
3. Rehearse Your Speech
As you ready with your number, now it is time to increase your talking skill. In case you are hired and want to negotiate about the wage, then this part will also help you in the interview. But if you are a worker, then it is your how to negotiate a higher salary for a new contract or promotion. All in all, a prepared negotiation is better than an impromptu talk.
Before you start negotiating with the employer, prepare and increase your talking skill. It is better if you make your talking points and then rehearse beforehand. Make a note of whatever you want to convey and negotiate. The memo should contain information about your experience, your skills, certification, and detail of average wages.
All the information and detail will give an impression of how prepared you are. It's also a great point for justification for your ideas. After that, practice your confidence and your talk ability by rehearsing with friends and family. Make the rehearsal feel real by wearing formal cloth and formal speech. Thus, you will be ready for D-Day.
4. Share Information About Work-Related Expenses
When your data about the wages is not enough, then share your expenses information. Try to exclude your personal expenses, but tell them about the job-related expenditures.
You can discuss how much you have to pay for the transport or commute, for the accommodation, about the moving expenses, and many more. Make sure your reasoning is real and necessary. For instance, you should work or do any business in a co-working space using BOOQED. You have to rent it daily, so you will need an extra wage to pay the charge.
5. Aim Higher, But Be Flexible
Many people who decide to negotiate are somehow seen as ungrateful and demanding. It is not something bad since you have the right to ask more. It is even truer when you got a better qualification for the job. So, be confident and ask more. Don't sell yourself short and use a salary range than a single figure.
If it's possible, add your bonus earnings to your demanded salary. This how to negotiate salary will help the company adjust the wage and salary. For instance, a $100,000 annual salary, then add a 20% bonus to make it $120,000. But tell them that you are being generous. If it is impossible to achieve, then be flexible. You can negotiate for more holiday or any other alternative.
6. Be Ready To Walk Away
Confidence is the key to successfully deliver your intention. State your terms clearly and succinctly. Being confident will make your employee increase their perception of your worth. But if you're offered terms lower than the minimum you'd accept, then don't settle for less. Being able to walk away shows your value, and may actually change their mind. If not, then no harm done!
7. Say Thanks
Whether you successfully negotiated or not, you should express your gratitude for someone's time. This tip also helps you to look more generous and undemanding. Another thing that makes this how to negotiate a higher salary important is the idea to make an open other paths for collaboration. It might give them time to think of even better compensation and opportunities for you.
Salary negotiation can be one part of the interview or when you got a better position. In the case of an interview, you should consider the standard salary and ask accordingly. It is because you are new to the company. But if you get promoted, then you can prove that you are ready to challenge with a higher salary. All in all, be confident and prepared is the key to successful negotiation.