July 17, 2024

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How to Negotiate Your Salary and Ask For a Raise

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Those seeking raises should conduct thorough research of salaries for your role before discussing with their boss. Furthermore, it’s beneficial to know when decisions on salary increases typically happen at your company – for example each December so you can plan accordingly.

Assemble real evidence to make your case. Include evidence of goals met or exceeded, results achieved, industry averages based on your job skills and years of experience, etc.

Know Your Value

Be clear on your expectations before beginning salary negotiations, and conduct research into the going rate for your job. Utilize online resources like Glassdoor and Payscale to gain an idea of the range for roles similar to yours in your geographic region.

Prep a list of your accomplishments and accolades so you can present it during negotiations and show the hiring manager that others recognize and respect your work. Doing this shows them you have been recognized and valued.

Honesty is key when engaging in salary negotiations; any attempts at embellishing your skills or history could backfire and if caught, may rob you of the chance for higher pay. If your request for raise is denied, consider other possibilities such as bonuses, flexible schedules and additional education benefits; always come prepared and confident during these conversations.

Be Prepared

Before meeting with your boss to negotiate your salary, do your research on market trends and benchmarks in your desired field of employment. In addition, identify any vulnerabilities such as in-demand skillsets or gaps in work history that you need to compensate for as soon as possible.

Assuming your boss will pose any questions, be sure to find someone reliable who can coach or practice with you on what to say in response. In addition, it’s crucial that you understand what their company policy is regarding outside salary offers as each company may have different policies in place.

If you’re meeting face to face or via video conference, try to set a meeting time ahead of time to show that you are considerate and respectful of their time; this can go a long way toward smooth negotiations.

Be Flexible

Remind yourself that asking for a raise can be nerve-wracking; but the more prepared and respectful of your manager’s time you are when making this request, the higher your chances are of receiving what is owed to you.

When scheduling a meeting to discuss a raise, request a specific date and time so neither you nor your boss is taken by surprise – this will keep the dialogue focused and productive.

Ducot suggests gathering reliable industry salary data specific to your role and location prior to initiating a dialogue, providing a baseline for what’s reasonable, as well as safeguarding against surprises if your manager challenges your research or suggests lower ranges than you expected.

Remember that salary is just one aspect of compensation; other benefits, including 401(k), healthcare, vacation days and education stipends could form part of your total package. Be sure to discuss these perks during meetings so you can advocate for what’s truly deserved of you.

Be Honest

Be honest when negotiating your first salary or asking for an increase at your existing job; otherwise it could backfire and make the situation more tenuous. Lying is always best since any time someone catches you in a lie it can only worsen things further.

Before receiving an offer from your employer, don’t bring up salary discussions as this can appear aggressive and put them on guard.

Consider also negotiating different parts of your compensation package, such as vacation days, professional memberships or tuition reimbursement – these may be easier for employers to provide than a pay increase.

Ought to you want more money? Negotiating salaries may seem intimidating at first, but over 80% of those who attempt it manage to negotiate successfully! With some preparation, you can feel assured you are receiving the best possible offer; if not satisfied afterward you could always look elsewhere for work; otherwise don’t be intimidated to ask for what’s owed to you!

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