We are often asked what is the best way to negotiate an increase in salary?
What works how does the employer view negotiation and what is the general outcome of negotiations at differing points in your career with an Employer? How do you begin? What are you worth? What happens should they say no?
Here’s how to negotiate salary, and what to expect.
Preparation for the battle!!!!!
Obtain as much empirical data as you are able on the local economy, salaries in the area and comparable jobs.
Whether you’re evaluating a job offer or negotiating for a raise, preparation is key. Research salary levels so you have an idea of what a fair salary should be. Use sites like mysalary.co.uk or PayScale.com, to identify local opportunities that are like your role and what salaries they command.
Remember to have a figure in mind, one which you will be happy with and upon which you can live. You will need to be able to back up that figure so ensure that you have done the necessary research and have the details to hand during the negotiation. If you suggest a salary range then you will be inviting negotiation, which the employer will inevitably start at the bottom of the range and hope that you will settle for that.
If you feel that it would be appropriate, formulate a document identifying the reasons that you are worth the rise in salary and substantiating the claims with examples from your research. You might like to include savings that you have made the company and potential cost savings that you can identify utilising your skills to benefit the organisation. Or you could demonstrate the impact that you make on revenue based on your support of key business activities. You can also expand upon what you have brought to the role how you have developed the business and improved its productivity and effectiveness.
Stay calm during salary negotiation.
Ensure that your audience feels that you are engaged and happy with the role itself. You want to maintain a solid, professional working relationship with your superiors. Or, you want to make sure that you’re not starting your new job on a sour note.
It’s important that you don’t make empty threats. Remain positive and calm throughout the negotiations and never threaten you employer with leaving, you might find that he accepts this as your resignation.
What if there’s no agreement
Objectivity is the key here , you must remain focussed on what you set out to do but that wasn’t to talk yourself out of a job, you could Even though both sides negotiated in good faith, end up miles apart in terms of numbers but you need to ensure that there is some sort of positive resolution, you might try an define a set of targets which if met would result in a salary raise that you were seeking.
Examine your salary expectations.
Is the figure or range you have in mind realistic? You’ve done your research, but are you sure you’re being honest about your expectations?
Have you proved your worth? Have you demonstrated an ability to go that extra mile? Ensure that you can point out to the company what you have done and explain how your growth benefits them and not just you.
If you’re interviewing for a role that you haven’t worked in before or you’re switching careers, there’s a good chance that the employer is factoring in a learning curve. If that’s the case, you may need to accept a smaller salary for a while until you prove that you’ve mastered the job.
What is the reason for their offer?
Keep an open mind when negotiating salary if the offer is less than you expected don’t be afraid to ask why.
Some companies offer low basic salary but give you the opportunity to earn unlimited commission. Other companies offer overtime, flexible working practices or bonuses to make up the salary.
It’s possible that the company offers additional benefits that will more than make up for the reduction in salary, low rate car loans, childcare subsidies or other such perks can all add up and make a package competitive.
,Be bold ask if you are disappointed with the offer whether or not the company has room for manoeuvre. Try and demonstrate why you are worth more, ask for a review of performance after 2-3 months if you show them what you can do, they may offer more.
Move beyond salary.
Sometimes, a higher salary just isn’t an option. If this becomes evident then try and go about things in a different way. Ask for longer holidays, ask to be able to work from home one day a week and describe how this would increase your productivity. Make your request in terms of how these things will benefit the company by helping you be more productive, focused, or efficient with your time.
To make sure that you have salary negotiations in the future, ask what you should focus on to ensure your performance is optimal during the first several months to a year, so you can chart a course for a stellar performance review and salary increase later on.
Walk away from salary negotiation.
Employers know that some candidates are willing to drastically lower their salary demands simply to have a job and end their search. Likewise, some employers feel that if you aren’t happy with what they are “giving you,” then you shouldn’t work there anyway.
While the choice is ultimately yours, resisting the temptation to give in to a salary that’s not up to your standards is likely in your best interest.
Feeling undervalued from the get-go doesn’t start a job off on a good note. Chances are, you’ll end up feeling resentful in the long run and looking for a new job sooner than you planned. Sometimes, turning down a job offer may be your best option.
If it’s your present employer lowballing you, there probably isn’t much you can do. They have their reasons (valid or not) and are not likely to change them any time soon. Only you can decide if it’s better to stay the course or start looking for other options.
If Salary Negotiations End Poorly. It’s Time to Find a New Job.
We hope you found this article of benefit and if you have any questions regarding the best way to negotiate salaries please contact using the form below