Negotiating a salary increase is often one of the hardest things employees have to do. If you’re due for an increase but unsure how to go about it, read these top tips.
To negotiate a higher salary in the beginning of a job is seldom an easy challenge. You may need more or want an additional amount of money to make ends meet. Either way, very few people are excited about doing the asking. This could be because asking for more money is sometimes not so polite. Consider different tips and negotiation factors, such as the ones listed below, about how you can ask for a raise in your salary.
1. Start off on the right foot
Negotiating from the first offer is a wise move when you’re interviewing for a particular job position. The interviewer will always be prepared for negotiating from the initial amount, and if you do not ask, you will lose potential money right on the interview table. Therefore it is essential that you ask your manager about salary whenever you find the right opportunity.
2. Make the request based on future obligations, not the past
A company is likely to pay you more if it expects higher work delivery from you in the future. Hence, if you are asking for a rise in salary, then mention the workload you have to bear in future rather than the extensive work you have done in the past. In this regard, you may also mention your household issues such as kids in college, or mortgage payment.
3. Consider the non-salary options
If your company is not yet ready to raise your salary, then think about other compensation options such as a benefits package. You might ask your manager about expanding your leave period, insurance plan, or other gains.
4. Pre-schedule the meeting
If you’re planning to discuss the pay rise with your manager, then it’s very important that you pre-schedule the meeting with him or her and offer an agenda regarding what will be discussed. That way, your boss won’t be caught off guard and get surprised with an immediate call for an increase. Also, if your manager has the agenda points with them for a while, it’ll help him or her think about your salary increment and other factors.
5. Don’t enforce, and be prepared for a ‘no’
Usually it’s fine if you ask for money. But if you are enforcing your own conditions in terms of quitting the job if your demands are not met, then it could be a serious effect on your professional credibility. Additionally, always be prepared for a refusal. Most of the time bosses are not satisfied with performance and want to test the employee for a longer period of time before offering a higher rank or salary increase. Therefore, you must be careful with your response when denied the salary increment.
If neither of these tactics work for you, there are 1000s of fresh jobs advertised on Careers24 – and one of them could have you laughing all the way to the bank...