Do you feel like you aren’t receiving the salary you deserve? Maybe you’re preparing for a job interview and hoping to get a better salary than your previous one.
In your career growth, you are likely to reach a point where you need to ask your boss for a pay raise. Equipping yourself with the skills you need can increase your chances of success. When it comes to salary, you don’t automatically get what you deserve; you get what you negotiate. Here are some points to guide your success in salary discussions.
Practice and Prepare for Negotiating
Your first salary negotiation effort may seem daunting. If you’re unprepared, you may experience poor results. Worse still, fear may lead to you avoiding the discussion altogether.
The best negotiation classes boost confidence and sharpen salary negotiation skills. Learning from the experts can equip you with skills to land you the best deal.
You could also practice your debate points with a friend. Simulate a salary discussion meeting. Role-play how to approach your employer and present your case. Rehearsing what to say gives you the confidence to take the first step.
Regular simulations with a close friend can improve how you handle employer objections. Reading books on salary negotiation can also add to your knowledge.
You could also ask for guidance from someone with experience in recruitment. Get to know firsthand the strategies to use and the mistakes to avoid.
Know Your Worth
The direction a negotiation takes is often determined before discussions start. Your attitude and state of mind are key in laying the foundation. A winning mentality increases your chances of getting the deal you hope for.
Walk into a salary discussion meeting with confidence. One way of achieving confidence is by knowing your worth. Employees often settle for low offers due to focusing on their own weaknesses. The best negotiation classes guide attendees to identify skills that define their value. For instance, are there ways to measure your performance against those of colleagues or competitors? Do you score better than your colleagues in some performance aspects?
Most employers won’t agree to raise your salary simply because you asked. Know what sets you apart in your field of work and don’t be afraid to leverage this information. Proving your value to your employer can justify your salary increase request.
Prepare to mention the pain points you have solved for the company. Write down the skills you possess that should translate into higher bottom line profits to justify a pay increment. In private, write out and then read out your reasons for deserving a raise before facing your employer, until you feel positive about your pitch. Having self-belief raises your confidence, which increases your chances for a raise.
Be ready to consider counteroffers from your boss. Don’t throw in all your points too early in the discussion. Hold onto your best cards for use in case your boss offers objections to your salary raise request.
Carry Out Research
Experts in negotiation classes advise researching who you’re preparing to persuade. Research is especially important if you are looking to get hired in a new company.
Take the time to research the company and your future boss. Go through the company’s website and social media pages to research the company’s values. Due diligence may provide you with insights on bargaining points and who you will be working for. If you know about your future boss before meeting them, you will be able to strike up a stronger rapport. Rapport is useful when it comes to asking for more.
Research may also reveal pain points in the company that you can solve. Match your skills with the solutions the company needs. Use how you will address the company’s pain points as a persuasive edge when asking for a higher salary.
Another area of research is the company’s salary range for employees of your grade. Know what to expect as an offer from the recruiter. At a minimum, go for the highest end of the grade or bracket. Prepare to challenge your employer’s offer and be ready with your reasons for higher payment. If you’re confident of the difference you’ll make, then tie your salary premium into your employer achieving their goals or solving the problem you are uniquely qualified for.
What Next After Negotiating?
If you have convinced your employer to raise your salary, remember that your responsibilities will likely have increased, along with your employer’s expectations. How you conduct yourself from now will likely determine whether you’ll be successful the next time you ask for a raise in the company.
Aim to become the best employee you’re capable of being, and prove that you’re worth the pay raise. Keep up with negotiation trends by studying relevant classes. Prepare and equip yourself to increase your chances of future success.