Salary negotiation can be a nerve-wracking experience, but with the right preparation, you can confidently secure a pay rise. We take a look at 15 tactics that can help you achieve the dream salary you deserve:
Do Your Research
The first step in securing a salary increase is to know your worth. You can research the average salaries for your position in your area, considering your experience level. Salary websites like Glassdoor and Payscale can be helpful tools for comparing your pay packet to the going rate.
Target Beyond the Base Salary
When thinking of your dream salary, it’s essential to think beyond the base salary itself. You should also consider other forms of compensation, such as health insurance, paid time off, bonuses, and retirement contributions. Sometimes, a slightly lower salary with additional perks can be more beneficial to you.
Practice Makes Perfect
If you are worried about getting flustered when you try to negotiate your salary, try role-playing with a friend or family member. You can think about the potential objections that may come your way and rehearse counter-arguments until you feel comfortable enough to ask for a meeting.
Set Your Walk-Away Number
While you don’t want to come out with a specific number, you should know the minimum amount you’re willing to accept. This can prevent you from saying yes to a deal below what you want because the pressure becomes too much for you.
Positive Body Language
It is important to maintain good eye contact and a confident posture when talking to your employer about your pay rise. Projecting confidence can influence how you’re perceived and may help your boss see your value.
Focus on Your Value
The focus of your potential pay rise meeting should be to highlight your accomplishments and skills. You should provide evidence of your contributions to the company, including increased sales figures, improved efficiency statistics, or positive client feedback. You can go even further by giving specific examples, such as “Since implementing my new marketing strategy, we’ve seen a 20% increase in website traffic.”
Express Enthusiasm
You want your employer to see how enthusiastic you are about your role and the company, so you should show genuine interest. You don’t want to come across as too pushy or simply on the lookout for a pay rise. Enthusiasm can be contagious and position you favorably.
Let Them Make the First Offer
Allowing your employer to make the first offer allows you to anchor the negotiation at a higher starting point. They may deliberately go in with a low offer, so negotiating is important rather than just accepting the first salary.
Use Silence Strategically
When you are negotiating, don’t feel you need to react quickly. Don’t be afraid of a comfortable silence after their offer, as it can put the pressure back on them to improve their terms. Silence will also give you time to princess the offer and think about what you are going to say next.
Use “We” Statements
Try to frame your requests in a collaborative way so they can see that you’re not just speaking about your personal achievements but how you and the company are working well together. Emphasize how much your skills benefit the company and how you want to continue to work to make progress together.
Be Prepared to Counteroffer
Once you have received your first offer, be prepared with a reasonable counteroffer based on your research and qualifications. Going in too high will lead to your employer not taking you seriously, as it seems you may just be out for what you can get rather than being unrealistic.
Don’t Be Afraid to Walk Away
If their final offer doesn’t meet your minimum needs, be prepared to politely decline and thank them for their time. They may hope you will settle for less, but you should stand your ground. This prompts them to book a further review if they think they will lose their skills.
Negotiate More Than Just Salary
You should explore other aspects of the compensation package, like flexible work arrangements, additional paid time off, or professional development opportunities. These are things outside of financial gains that may benefit you and your family.
Ask Questions
Don’t be afraid to ask questions to clarify details about the offer (if it’s a totally new job), benefits, or company culture. If you are asking for a pay rise in an existing job, you can ask for clarity on the company pay structures and where they see you fitting in among the promotion/pay rise structure.
Get it In Writing
Once you reach an agreement, ensure all the compensation package details are clearly outlined in a written document. This will prevent any confusion or backtracking and will ensure you get the pay that you have worked hard for.
Harvi Sadhra is the CEO of Revir Media. He has over 10 years of experience in digital media and has been featured in many of the largest media brands on topics related to finance, stocks, money, technology, and more.