Negotiating a raise with your employer can be difficult and exhausting.
Negotiations are a dialogue aimed at reaching an agreement. It is therefore important to know in advance what you want and what you are ready to give up.
Salary negotiations with your employer should be prepared well in advance. You must know your market value and the value you bring to the company.
Know exactly what goals you and your team need to achieve. This will ensure that the negotiations run smoothly and bring you closer to the desired outcome. We hope this article will help you prepare for a successful negotiation.
1. Know your market value
Before you negotiate your salary, you need to know how much you are worth to the company. Many factors can influence your salary.
The first thing to do is figure out how much you are worth in your industry and based on your experience. This figure is difficult to estimate because it depends on the region and the type of company you work for.
If you work in a large company with a clear salary structure for each position, it will be less flexible than in a small family business.
You need to know what salary you should aim for based on your experience. Salaries vary widely by industry, seniority and location, so it's important to negotiate a good salary.
First, look at what people in your area with the same experience and in the same position as you earn.
Then determine the salary range for the position, then compare the average salary with market salaries.
2. What have you achieved so far?
An important part of this process is showing the interviewer why you deserve a higher salary. If you have a list of accomplishments, awards, and proof of your value to the company, you'll have an advantage when you're negotiating.
A proper assessment of your accomplishments will help you negotiate a raise, but don't wait until the end of the year to ask for a raise. You are more likely to succeed if you try to negotiate before next year's budget is ready.
Don't just talk about the past, because your accomplishments and the examples that prove your worth are more important than past performance reviews when negotiating with an employer.
3. Plan the points you want to cover
When preparing your negotiation notes, be sure to address the following questions. Why do you think you are entitled to a higher salary than others? Before approaching your boss, prepare as specific a list of questions as possible. This list may include eg.
The goals you have achieved, the amount of work you have contributed to, or the awards you have received on behalf of the company. If possible, use real numbers.
Years of experience in your industry. Especially if you have exceeded the minimum requirements set by the company.
Your diplomas and qualifications, especially if they are highly sought after in your sector.
The average salary at other companies for similar jobs.
4. Training
The most important thing is to prepare in advance. Prepare for difficult questions by knowing your topic and practicing until you feel comfortable. Your interlocutor will certainly be more experienced and less concerned about the result than you. So it will be easier for you to stick to your strategy if you know exactly what to talk about.
Prepare for the interview in such a way that you don't feel nervous and can find the answers to tricky questions instantly.
It's best to train with a friend or colleague you trust and who can give you constructive feedback. You can also record yourself in front of a camera or speak in front of a mirror.
This step is especially important because talking with your boss can be uncomfortable, but the more you practice, the more comfortable you'll feel when the time comes.
5. Be assertive, persuasive and confident
To successfully negotiate a raise, you need to be assertive and persuasive. The more confident you are, the more likely your employer will listen to you. Arrogance and smugness should not be confused with confidence in assessing your own strengths and qualities.
In negotiations, a lack of self-confidence can cause you to exaggerate or apologize, which can cost you dearly. Instead, clearly describe the raise you are asking for and briefly explain why you are asking for it.
Remember that you are providing valuable expertise to your boss. If you feel that your current salary is not commensurate with your skills and experience. Be prepared to back up your claim with salary market research backed up with information about your personal worth. This is so that you can present your request with confidence.
6. Set high goals for your request
One of the basic principles of salary negotiation is to offer the employer a slightly higher amount than what you really hope to obtain. In this way, you will be able to obtain an increase fairly close to your wish, even if of course your proposal is revised downwards.
Similarly if you are offering a range, make sure the lowest amount you are offering is also appropriate. Because employers will almost always choose the lowest.
Once you have gathered as much information as possible about your market value and your employer's ability to pay. Let's go, start negotiating by not hesitating, if necessary, to precede or follow your interview with a formal mail.
