I deserve a raise! These are words you may say to yourself, but best left unsaid when negotiating a salary.
When applying for a new job, or renegotiating your existing work contract you will need to know how to negotiate your salary effectively. We will look at how to negotiate a salary for a new job in this post, although the ideas presented can be adapted for renewing a work contract.
Before entering into negotiations the best way to succeed, is by preparing yourself.
Prepare by answering the following questions:
- How much is my time worth based on my skills?
- How many hours will this job demand of me?
- What am I being asked to do?
- What will the commute to work cost me in time and resources?
The answers can help you to determine an estimate of what your time is worth to you. Keep in mind your prospective employer will probably have a different idea of what your time is worth. Therefore, the goal is to find an amount that is reasonable to them but which also makes you feel appreciated and that your efforts are valued.
Do prepare for the meeting, learn about the company and what it does.
Do, listen first to what the employer is offering, the job description and what the job entails. They may even throw a Salary number at you from the very beginning, hoping you will accept it immediately as it is the number they have in mind.
Do listen respectfully and acknowledge their offer. By doing so, you will establish your respect for the employer, and they may be more inclined to hear and accept your counteroffer.
Do question the details, for example:
- When would they require you to begin?
- What comes with the job, for example, a company vehicle, an expense account?
- Is there room to grow in the company?
Ask relevant questions about the job that will help you determine an appropriate counteroffer.
Do mention your unique abilities that would benefit the employer, abilities which no one else can bring to the table.
Do justify your counteroffer with a well thought out explanation of why you are asking for more. Is it the job’s requirements, your unique abilities, information about the company you discovered during your preparation or a combination of these points?
Don’t accept the offer immediately. Demonstrate your analytical abilities to gather information and weigh up the pros and cons.
Don’t delay too long in making a counter offer. It is a negotiation, and you are the subject of the negotiation. It is acceptable to ask when an answer is required and if the salary is negotiable. If the answer is no, then perhaps discuss the extras that could be included with the job.
Don’t make an unreasonable counteroffer. Never base your counteroffer on your opinion of yourself. If you overestimate your worth, you may lose their respect and soon be shown the door.
Based on the facts provided and what your research revealed about the company salaries of its current employees, calculate your counteroffer. Remember also, the answers to the questions, which you prepared before your meeting, how much is my time worth based on my skills?
Don’t become upset if they reject your counteroffer. At this stage you have two choices, walk away thanking them sincerely for the opportunity, or ask what changes to your counteroffer would allow them to accept your offer.
How to ask for a raise
Whether you are negotiating a new salary or a raise to your current salary we have put together some different ways for you to be able to ask depending on your situation.
- If I ever wanted to discuss my wage, who would I speak to about this and when would it be the best time to approach them?
- I would appreciate a meeting with you to discuss my current wage.
- During the last year, I’ve taken on many new responsibilities such as, (mention the responsibilities). My fellow colleagues with similar responsibilities are currently making (mention amount). For this reason, I’d like to discuss an increase to my current salary that reflects the excellent work I’ve been carrying out.
- I was hoping for an increase of this amount (mention amount) can we meet in the middle?
- I enjoy my job and want to stay here for the long term. However, my understanding is that I should be making (mention amount) in the current market.
- What can I do to earn a raise in the future?
- Before the renewal of my contract, I would like to discuss my current pay rate.
- An offer has been made to me by another company which pays (mention amount). Personally, I would like to stay in my current position. However, I would appreciate it if the pay rate is matched to reflect the valuable work that I do here.
- I have been working for ( the company name) now for (mention time). Throughout this period I have been receiving (current wage). I would like to discuss the possibility of an increase to my current salary.
- It’s my understanding that after my first year of working for (company) I can request that my pay rate is revised according to the great job that I am doing. Would it be possible to arrange a time to speak about this later?
- Last week you mentioned how well I have been doing at my job, for this reason, I would like to discuss a possible pay increase in recognition of my good work.
Good negotiating is not just about what you say, but how you say it and what qualities you reflect. Stay optimistic, calm and respectful. If the negotiation fails, don’t change your attitude and become bitter, as that will only tell the employer he made the right decision to reject your offer because he or she may think you were only pretending to be sincere.
Negotiating a salary is not easy to do, but a positive attitude and a respectful, friendly approach will often give more weight to your words. In the end, the employer may not remember everything you have said about yourself, but they will appreciate how you treat them and your attitude towards the job they have to offer. Proper preparation can result in your counteroffer being accepted and landing the job you have always wanted!
I hope this article helps you to negotiate your next salary. Leave your comments below if this article helped you and why not check out our other blog posts on our site as well.
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