Money is often a sensitive topic… especially when asking for more of it! A few of my girlfriends have been struggling with the salary issue lately. Am I worth more than I make? Do I need to look for a new job? Can I cover my expenses? Will I have the opportunity to move up (and make more money) or am I sitting idle? If these questions have been flying through your head recently, I have a few tips for that difficult salary negotiation conversation.
1. Do your research
You need to know what you’re asking for before you come in demanding a $50k increase and executive benefits. Do your research to see what the average is for positions like yours in your city. Keep in mind salaries may vary depending on accompanying benefits packages, flexible arrangements, etc. Websites like Glassdoor can be useful, as well as looking at comparable job postings with salaries.
2. Ask if there is room for increase (yes or no question)
Of course, it is important to show gratitude in this step. You are grateful for the opportunity and the offer, but want to know if there is possibility to negotiate.
3. Ask if there is opportunity for increases in the near future
If your employer isn’t able to offer an immediate increase or more benefits, you may want to inquire about possible bonuses, raises, or promotion opportunities in the near future.
4. Focus on your competitive advantage
Know what makes you special and what you add to the company. This will allow you to remain confident throughout the process and provide a base for your overall value-add argument.
5. Negotiate with facts and data
Most importantly, negotiate based on facts and information. Use the research you conducted to build a strong rationale for the increase. If you approach your supervisor with an argument of “I think I deserve an increase” without showing how and why, your chances of negotiation are slim!
At the end of the day, it is most important that you know your value and ensure you are being respected every day. You may be seeking higher compensation, better benefits, or a flexible schedule to meet your family’s needs. Whatever you are in search of, ensure you do your research, know the facts, and have a clear strategy!