Several factors dictate how much you can win in any position. The job title is one of the most obvious indicators of your salary, but the industry, the workplace and the current market conditions can have an impact on the salary. Of course, your experience, your education and your other qualifications will also make the difference.
The following sections describe why and how to apply for an increase in your current position or negotiate your salary for a new job.
Benefits of Claiming an Increase or Negotiating Your Wage
Earning a better salary is clearly the main benefit of asking for an increase or negotiating your salary. However, there are additional benefits at each stage.
If you generally love your job but pay is a primary concern, getting a raise could have an impact on your happiness and productivity. A majority of the American workforce (51 percent) is not engaged, according to Gallup. Increasing your earnings can rejuvenate you personally and professionally.
Negotiating your salary for a new job can be even more important when you think about "how it is almost always easier to get more money at the offer stage than when you are there. are already working, "says Alison Green, management expert at US News & World Report. "Your future paychecks will thank you."
Therefore, if you keep in mind that the average salary increase is about 3%, you can see the difference in your salary years down the line if you negotiate your salary for a new position. For example, if you work for an organization that gives an increase in employees each year, a salary of $ 45,000 after three years with an expected salary increase of 3 percent each year becomes $ 49,173. A salary of $ 50,000 after three years becomes $ 54,636.
You might not be able to get a 10% pay raise, but negotiating a 10% pay raise on a new job offer may be possible. Figure in the possible annual increases on the highest figure and you can start to see how much a difference your salary negotiation can make.
How to negotiate a better salary
It is natural to worry about the negotiation of an offer, but "if you handle trading in a reasonable and professional manner, it is highly unlikely that you will lose the offer in relation to that, "explains Green. This is a normal part of business, and in the small chance that it is not going well, you have received indications that the company is unreasonable and dysfunctional in other respects.
The caveat, however, is the tone. "The tone that you use in negotiations because it can convey" I am a professional who will be nice to work, even when we talk about difficult things ", or he may convey that you are inappropriate aggressive, ego-driven or even rude She adds, "You can always be frank in explaining that you think your work is worth a higher salary, but you want to make sure your tone sounds pleasant and collaborative, not contradictory."
Green offers additional tips for negotiating higher wages in another article in US News & World Report
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- Be prepared. You will probably be asked for a desired salary range. Do some research in advance so you do not hurt yourself or hurt yourself in the negotiations later.
- Concentrate on what you want to win. Remember to refuse to discuss your previous salary. Or, if you can not do this, try to explain why you accepted a lower salary in your previous job. Stay focused on what you want to win and why you are worth it.
- Be honest. Do not lie about your past salary; this can turn around when the employer checks your salary history. Do not give a salary range that will leave you disappointed if you are offered the lowest; choose your range carefully. And be sure not to play games. "While the job search experts absolutely advised to refuse to give a salary figure at first, even if they were in a hurry, this advice often does not work today and can be detrimental. your chances, "she says. "If an employer asks you directly which salary range you are looking for and that you categorically refuse to answer, the employer is likely to let [to] the next candidate, someone who might be willing to have a conversation more open. "
- Consider other factors than salary. You should have a low figure that you will not go down, but beware of other factors. Figure in a generous retirement or health care contribution. It also works for the other side of the negotiations. Be wary of accepting a significant salary increase for a job where you will be miserable.
How to request an increase
Remember the following principles when you are preparing to ask for an increase.
- Prepare your case. You should collect two types of evidence before presenting your case, said Diana Faison, a partner in the Leadership Development firm Flynn Heath Holt Leadership, at Harvard Business Review. The most important are the facts about your unique contributions, such as the money savings you have implemented, the positive results of the projects you have overseen, the positive customer testimonials and the high praise. Also gather salary information at the company and industry level to demonstrate your value.
- Consider your boss's priorities and explain how you will help. Taking more responsibility is one of the best ways to argue your case. "First, order the tasks and responsibilities in your current role, then start solving the problems that your own self would work on," Jenna Tanenbaum, founder of the GreenBlender Smoothies Delivery Service, told Forbes. "Understand the basic strategy of your organization, ask a lot of difficult questions and align your priorities with those of the company."
- Practice the conversation in advance. Repeat what you say. You can even record it and make sure you are concise, logical and speak with the right tone.
- Do not make it personal. This is a business decision, so do not bring personal reasons for an increase such as debt or a new expense. "The best approach to asking for an increase is to focus on merit rather than need," Forbes Beth Monaghan, CEO and co-founder of the InkHouse public relations company, told Forbes. "Too often, people argue that an increase is important because of the very real costs in their lives, however, an employer is looking to give people increases based on performance."
Building Your Career
One way to command a higher salary in your current job or a new role is to advance your education. Online business degrees from Southeast University can help you become a successful business leader. When you graduate, you can start or advance your career in sales and marketing, financial planning, small business startups, organizational leadership and many other areas. All of these degrees take place in a fully online learning environment.
Reissued with permission. Original here.
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