Negotiating a better salary is something that everyone should know how to do. At the end of the day, it is your responsibility to demand the amount of money your work is worth. No matter if you ever had negotiated for a better salary or not, the time will come when you will not be valued adequately. It doesn’t matter if you’re a long-time employee or new to the company, you have the right to get what you deserve. When this time comes, it is vital to address the issue objectively, build a case around it and negotiate for a better salary.
What is a Salary Negotiation?
Salary negotiation is a discussion between you and a representative from the company you work in. You need to be prepared to:
- Build your case: Why are you worth investing in? You should be able to answer this question with specific examples from previous experiences.
- Be prepared to answer questions: “Why do you deserve this salary?”
- Balance Between Firm and Flexible: You need to be ready to make compromises and you need to be ready to say “Yes” even to a minimal pay increase.
Why It's Important to Negotiate your Salary?
It’s important to understand that negotiating your salary is a perfectly normal part of the employment process. Getting the salary you deserve is part of advancing in your career. It’s not only the money you get each month to pay your bills, it’s how your company shows you that they appreciate your work and value you and your skills.
How to Find Out What You're Worth
Before you enter the room to negotiate for your salary, you must have already checked how much others in your position and location are getting paid. Salaries range a lot by industry, seniority, and geography, and you should always ask for a realistic wage.
Define Your Range And Worth
- Have a salary range rather than a single number: You should always be able to offer a range based on your research rather than just a single number. By doing this, it is easier to navigate and negotiate and find a suitable compromise.
- Practice your pitch at least once before: Find someone to listen to your speech, so you hear your arguments out loud. At the end of the day, the negotiation process will go a lot smoother if you feel comfortable and prepared.
- Be confident: It’s extremely important to express confidence in the negotiations.
- Avoid accepting the first offer: If you need time to evaluate an offer, say so. Schedule a second meeting 24-48 hours after the first one and come back with a counteroffer, if needed.
Choose the right moment
A great time to bring up the subject of a raise is always when you know your manager is impressed and satisfied with the work you did recently and is in good mood.
What to do after a salary negotiation
Whether you’ve just negotiated successfully or not, it’s important to know that it won’t be the last negotiation, so it will be easier for you to start preparing for the next one. Finally, always remember that it is vital for you to keep making sure you are adequately valued by your employer.