First of all, salary negotiation is a very uncomfortable process.
Everybody feels butterflies in their stomach whenever they approach their bosses for a small favor, so what more about approaching them for a salary raise? That’s scary at the very least, for you don’t want them to interpret it as greediness or selfishness.
Unfortunately though, most employees opt to hush about discontentment in their compensation, lest it will stain their immaculate image as a loyal and passionate staff member.
Right. But playing Mother Theresa won’t get you anywhere, and neither will your company. If you’re the type who doesn’t need motivation to accomplish arduous corporate tasks, check your pulses. Maybe you aren’t human. Only robots are willing to grind without due incentives, and companies knew how your productivity will be affected if you are not satisfied with your rewards.
Yes, asking for a raise is better than grumbling to your work cubicle and keeping sentiments to yourself. Get some grit to be vocal to your employer if you really believe that you deserve more, and let your reputation take care of itself. Moreover, you can spark an effective salary negotiation by heeding these tips:
1. The best time to name your price is when you just got hired.
If you are already an experienced professional, you could base from your current compensation, raise it to 5% or 10% if you think you are worth it. But if you’re new in the industry, it is wiser to keep silent about your expected income. Practice saying a modest “I’m more interested in what I can learn from my first-hand work experience in this company, I’ll consider any reasonable compensation.”
2. Do your research
Rather than asking and comparing how much your relative or friends with the same job is making, refer to more accurate sources. Get an accurate range from a trustable information portal and see if you’re getting it right.
3. Don’t tell any personal reason for asking the raise
Present solid statistics instead. Reveal to your employer the information about industry averages and the demand for your job. Of course, name a credible source like a web site or files from other company. Never ever appeal to them by telling that you need the raise because of a sick family member, because asking for their pity will just ruin your professionalism.
4. Consider other alternatives
Be ready in case the company can’t agree with your digits. Look for possible alternatives that may work for both of you. Prepare to settle for stock options, flexible time, allowance, and other benefits they may offer you.
5. Stay positive even if you got refused
Showing them your disappointment will only get you a bad rep. Instead of wasting your energy in sour-graping, ask them how you can improve to get the amount you’re asking for. Spend extra time and effort for your job until they are convinced that you deserve the raise.
Lastly, be confident with yourself. If you believe you are entitled for more, then show them. Walk your talk during the salary negotiation so that they would see the significant company asset in you.
Here’s the point: if you can’t calculate how much your services are worth, then wait for others to underrate you.