Negotiating for a raise can be more intense than an initial interview with a prospective employer. The daunting task can send many people searching for any help they can get with how to go about tackling it. If such a quest brought you here, then you are in luck. Detailed below are six great tips for handling a salary negotiation for your perusal.
1. You are Unlikely to Get What You Do Not Ask For
Managers and business owners are not intentionally looking to short you out of pay you deserve, but at the same time they are doing everything they can to minimize expenditures and increase profits. Some companies have scheduled increases to employee salaries, but if you want anything beyond this, then you will have to bring it up to them.
This does not mean you should be going up to your employer every month and trying to renegotiate your salary just because your bills increased. You might consider salary negotiation after a major event in the company or the field in which you work, or once a year.
2. Be Aware of the Field
The job market is incredibly tense in the aftermath of the housing bubble collapse, even if there has been some recovery. That said, there might be dozens of applicants waiting patiently to fill your shoes the moment you slip up, and with a higher supply of willing workers, the overall salaries are unlikely to rise. Take the time to perform research on what other companies are paying employees with similar qualifications, experience, and time on the job as yourself. Use the number to find a reasonable amount to request. Try not to over or undersell yourself and instead aim for that sweet spot of the perfect salary.
3. Employ Standard Interview and Business Socialization Techniques
While it can be intimidating, treat a salary negotiation like any other business interaction with someone above your station. Be sure to look your absolute best, though do not stray too far from your normal business attire. Complete your research ahead of time, and spend the night before making sure you have a firm and concrete plan. Be personable and friendly, but do not be overly familiar with a manager if you do not have that sort of relationship them. The overall idea is to be present yourself well but in a professional manner.
4. Timing Is Everything
Your managers and the people who decide your salary are human beings. It might not seem like it when you view them from underneath on the management pipeline, but it is a fact. They have their own tension levels, habits, personalities, and behaviors. Keep these in mind when you decide how to approach them.
For example, a large number of people are grouchy first thing in the morning, and they then become lethargic and unwilling to do much in the late afternoon. For this type of person, you would want to aim for a time in the middle of the morning or just after lunch.
Another example might be if your company has a formal procedure for salary negotiation, and the person you will be discussing it with is a stickler for the rules. Approaching them casually and outside of the proscribed method might irritate them or make them view you negatively once you use the official channels.
5. Do Not Give Ultimatums
“We do not negotiate with terrorists.” Everyone should be familiar with the standing policy for most governments when it comes to terrorists, and there is one key reason why this policy was adopted: Once something works the first time, more people will attempt it. While it is unlikely that you had it in your mind to threaten violence or kidnapping to get a raise, some people do make the unfortunate mistake of threatening to quit or cease to do their job until their demands are met. In the eyes of a business owner, this is tantamount to acting like a “business terrorist.” However reasonable your demands might have been before the threat, once you make it then they will most likely respond by ceasing negotiations, and it can cause them to have a negative perception of your work ethic from then on.
6. Keep Your Wits About You
How much your salary ends up being can have a dramatic effect on your life. For this reason, it is a definite possibility that if you foresee the negotiations turning away from the goal you had in mind then you will begin to lose your senses and allow emotions such as fear or anger to take over your actions. If you allow this to happen, then the negotiation can quickly devolve into a situation that might cost you your job on top of not getting the salary you had in mind.
There is no absolute wrong or right way to go about negotiating your salary, but these tips should give you a firm basis to work off of when you decide to attempt one. Unique scenarios do arise, so having a keen awareness of the situation is a key skill. That said, hopefully these tips have helped guide you on how to go about negotiating for a raise and will result in a more prolific future.