How to Negotiate for a Salary Increase
You’ve worked hard this year, given 110% of yourself, and you’ve started thinking: “maybe it’s time for a raise?” Negotiating a pay rise can be a stressful task, but it is one which is vital for every employee and worker.
Preparation is key for wage talks, and you’ll need to do your research before you schedule that meeting with your boss. Before you go, here’s what you need to know for a wage increase negotiation:
Know the value of your role
What is the going rate for your position, and how are colleagues in similar positions remunerated? You’ll need to do some digging to find these numbers, and don’t forget to consider that different regions offer different salaries: the salaries in your area are the ones to take note of.
It’s a tough task, and one that depends on keeping a cool head. No matter the outcome of the conversation, always remain professional and courteous. Don’t let emotions overwhelm you, and go in ready to compromise.
Track and consider your accomplishments
This is a useful task for any employee: throughout the year, track and make note of your most successful projects. Once you’re in front of your supervisor or boss, it’s time to use those projects as examples of your good performance and help quantify your value to the company.
Consider other benefits
There are more options to consider than your standard increase to your monthly salary. Stock, flex time, increased vacation time, bonuses and executive benefits can all add value to your benefits and package.
Never threaten to leave or posture with a take-it-or-leave-it stance. This can lead to a fallout with your boss, or worse, you could even lose your position.
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