Negotiating a better salary is something that everyone should focus upon. The time will come when you work hard and go above and beyond your job description or out-perform your colleagues, it’s natural to want a decent pay rise. Apart from needing to pay the bills, money is a sign of your value to the organization, and feeling under-appreciated can negatively impact your confidence. When this time comes, it’s important to approach the issue objectively, build an evidence-based case for your desired salary, and negotiate for this salary.
Salary increment is a discussion between yourself and a representative of your current company that aims to help you secure a higher salary. Yet negotiating a pay rise can be nerve-wracking. Deciding when to approach your boss, how much to ask for, and what to say all need careful thought.
Firstly, why it's important to know how to salary negotiate with your HR, it’s important to understand that negotiating your salary is a perfectly normal part of the employment process and that getting the salary you deserve is part of advancing in your career.
Your salary is not just a deposit to your bank account: it’s how your company shows you that they appreciate your work, your skills, and you. Your salary also reflects how your company supports your work-life balance, career development, work flexibility, and health-related perks.
How to Salary Negotiate Tips
Salary increment doesn’t have to feel uncertain or intimidating. As long as you’ve done the research to learn a realistic salary range to ask for and have a plan in place for navigating the negotiation, there’s nothing to worry about.
Following these how to salary negotiate tips will also help you to have an effective salary increase.
Have a salary range rather than a single figure: When pressed for your salary requirements, you should always be sure to offer a range based on what others in the field are earning, rather than a single fixed number, says Karen Lawson, founder, and president of Lawson Consulting Group, Inc., a Pa.-based Management and organizational development consulting firm. Having an acceptable salary range helps you to negotiate and find compromise more easily.
Don’t Sell Yourself Short: One common mistake when talking about the previous salary is forgetting to include benefits as part of your total compensation, says author Don Hurzeler. For example, if you are earning $100,000 a year with a 20% bonus plus health, dental, and other incidental benefits, you should answer the question by saying, “$120,000 plus generous benefits.”
Practice your pitch at least once before the actual negotiation: Pitching for a salary increment to HR is not an easy task. So, practice a lot before actually pitching for a salary increment. You could practice in front of the mirror or with your friends in order to avoid last-minute hiccups.
Be gracious: No matter the outcome, be understanding, appreciative, and thankful for the opportunity. As such behavior will show your maturity and also your abilities to accept the failures which will help you in the future.
Be confident in your delivery: Confidence is something which you can’t lack while negotiating for your pay rise. So, it’s extremely important to put on your game face when the moment comes for negotiation. Bring confidence to the delivery of your pitch and in the negotiations that follow.
Avoid accepting the first offer: One of the mistakes to avoid during Salary negotiation is accepting the first offer. You should avoid accepting the first offer. As the first offers are generally slight increases and getting another raise will take time. So, if you need time to evaluate an offer, say so. Schedule your next meeting 24-48 hours out and come back with your counteroffer.
Understand your leverage: Your negotiating power will vary depending on your current employment situation. For example, if you are unemployed and applying for work, expect to earn approximately what your old salary was or slightly less, says author Don Hurzeler.
Even after negotiating you’re not actually done negotiating
After a salary negotiation, it’s important to know that it wasn’t the last. Your job might become harder if you end up taking on new responsibilities, or you might find yourself with a promotion next year. A lot can happen in the next year or two, so it’s important to consistently make sure that you’re being paid fairly for the amount of work you’re doing.
In the end, it all depends on money. The worst that can happen is that your boss says no for pay rise. Either way, you’ll learn to advocate for yourself and understand and appreciate your worth. And there’s not much chance you’ll get more money if you don’t ask!