Most employees struggle to ask for a raise or while negotiating a salary increase for many reasons. Lack of confidence, not knowing when is the right time to have the conversation, fear of being refused, etc. In the office, those who have been unemployed for a while or seem to have an unstable job often hold their tongues when it comes to their salary because their bargaining power has further reduced. This is especially true in the job market post covid-19, where companies are fast to let go of employees. As a result, each worker needs to be capable to study the situation clearly and dissect the associated hidden opportunities. We have thus compiled a list of guidelines to help you during your salary negotiation.
Negotiate any salary increase following these DO’S:
1. Familiarize yourself with the market before starting your salary negotiations:
The key to having the upper hand in a salary increase negotiation phase is to be well informed. Information can be your best advantage. What is the job market currently like? What is the average remuneration and compensation scale for a similar post? The more demanding your job is, the more power you hold at the table. The recruiter might be struggling to find someone with enough credentials and expertise to fill the position. Knowing how much they need you can make a difference when negotiating your salary increase.
For more information on the salary in any field, you can check out the Robert Half salary calculator.
2. Factor in advantages and benefits in your salary negotiation:
Keep in mind that negotiating your salary increase does not cover raising your monthly salary only, but it also involves perks such as flexible working hours, extra vacation days, or support for continued education. Keep your eyes on the prize by looking at the whole job package, and not fixating on the money. To better negotiate, learn what you value the most, and what the ideal working schedule is for you. Sometimes, it’s far easier to convince your boss to increase your benefits than your salary.
3. Know when to close the deal:
It is essential for an employee looking to negotiate a salary increase to read the room, and understand when the deal is made. Prolonging the salary negotiation will do you more harm than good. The recruiter will rapidly get frustrated and you will give off the wrong impression. Nobody likes a hard-headed colleague. Getting off on the wrong foot by dragging out the negotiations will do you no good. If the hiring manager won’t change his mind and your requests aren’t met, simply back off and focus on more fulfilling offers.
4. Negotiate multiple issues simultaneously, not consecutively:
When someone makes you an offer, make sure to bring up any concerns of yours at the same time, followed by the relative importance of each issue. This way, you avoid getting the short end of the stick by having to meet the recruiter halfway on something that isn’t as important to you. Secondly, you will not abuse the manager’s kindness. A good salary increase negotiation is one that is straight to the point, and recapitulative.
Negotiate your salary increase while avoiding these Don’ts:
1. Not giving valid reasons for starting a salary negotiation:
You should keep in mind that negotiating a salary increase is not synonym to giving the highest number or demanding a big salary. It is about asking for what you deserve respectfully, by giving reasons and explaining your point, all while taking into consideration the company’s overall policy and budgetary restraints. By tying your skills to the job post, you will give a valid reason as to why you deserve to be paid more.
2. Stretching the truth or not being completely honest while negotiating you salary increase:
Most employees tend to over inflate past salaries or lie about a competitive offer that they have received to gain the upper hand. Little do they know is that this technique makes them look desperate, and they lose the manager’s respect. While you negotiate your salary increase, be as honest as you can. Talk to your boss clearly and with no hidden agendas. Most likely he will be more than happy to give in to your requests.
3. Giving ultimatums as a way to negotiate a salary increase:
People do not like being told to “do this or else”; so don’t give any sorts of ultimatums while negotiating a salary increase. Although you are simply trying to come off as strong and can pull your own weight, threatening your employer will not bode well for your requests. Instead, be as respectful and as level headed as possible. If you’re the one being given an ultimatum, the best course of action would be to ignore it. Simply let it fly by and redirect the course of the conversation to focus on more important points.
4. Fear of stepping up to negotiate your salary increase:
No one can lead a salary negotiation for you. If you’re dreaming of negotiating for a salary raise, then you have to step up and just go for it. When an opportunity to branch the subject of a salary increase comes up, take it! This includes staying confident amidst negotiations and not accepting the first offer if it seems too unfair just to get it over with. Part of stepping up is also staying at the table. What is inacceptable and unrealistic right now might be completely doable in a couple of months. Don’t be afraid to give it another shot in the future. But if your needs have been met, no need to keep coming back for more- you will look greedy.
Negotiating your salary increase can be pretty scary, but it might be just the best thing you could have done for your professional career. Just keep in mind that research and preparing beforehand can make a huge difference in an interview, or even after the hiring process. However, it is worth mentioning that one can become too caught in the monetary compensations, and forgets that a job is a whole package that should satisfy a particular set of needs; in this case, perspective is key. This list of guidelines aims to help employees and graduates to get comfortable enough to start negotiating a salary increase with ease. Nonetheless, it is designed to come into play only after performing a thorough job hunt to determine the best career plan for you, and by default, the correct path to follow. Sabiss recuitments will help you find the perfect job for you.