The act of negotiating salary. Have you ever been underpaid? How do you feel about it especially when you know the worth of the service or job you offered. I know talking about money sometime can feel awkward. I know sometime you don’t want to look greedy, but you also know you worth more. So, how will you confidently do salary negotiations without looking greedy or getting underpaid?.
I want you to know that there’s a lot of people out there with the same predicament as you. Most of us find it very difficult to ask for salary raise, or discussing about salary doing job offer. I want you to know that salary negotiation is not that a big deal and you don’t have to be scared.
Will you want to know about the secret of salary negotiation? join me as we take this journey together. See me as your trusted friend that will walk you through the entire process.
But What Is Salary Negotiation?
Simply put, salary negotiation is the conversation between you and your employer or potential employer, salary negotiation is the process where you discuss ang finalize on the amount of compensation you will receive for your work. This compensation can include your basic salary, and when you are a good employee you can get paid time off, health insurance and flexible work arrangements.
I want you think of salary negotiation as a way of advocating for yourself. You are not being pushy or too demanding, you are just making sure your skills, experience and fairly compensated.
1. Do You Even Know Your Worth?
First Thing First: If you don’t know your worth you will not be able to negotiate. Like you are seriously supposed how you can argue for a better salary if you are not sure what’s fair?
Don’t worry your head too much here’s where to start:
Research, research, research: A person that research is as someone that asked questions while traveling they can’t miss their way. The thing is websites like Glassdoor, Payscale, and Linkedln Salary insights should be your closest companion. You’ll get a general salary range your target zone.
Talk To People: Its really weird asking people how much they make, it looks like privacy invasion, but you will be surprise how many professionals don’t mind sharing. You can talk to your mentor, a colleague, or anyone you know on Linkedln with similar role.
Consider your extras: Do you have certifications? Specialized skills? More experience than others in your field? These all add to your value.
Lets look at a case study of my long time friend who is a graphic designer, found out that people in her city with similar experience earned $10, 00 more than she earns. When she find out, it gave her the confidence to ask for more and guess what she got it.
2. Timing is Everything
So the question is when do you bring up salary matters? You can’t just go when you boss is having their coffee or in a meeting and start and just blurt it out. You need to understand that timing matters my dear friend, below are the best time to talk about salary:
- Job offers: If you’re in the hiring process, this is the perfect time. Employers expect you to negotiate. They probably even padded the offer a little because they’re waiting for you to push back.
- Performance reviews: If you’re already working somewhere, reviews are an excellent time to bring it up. Your boss is already thinking about your contributions.
- When you’ve crushed it: Did you just land a big client? Save the company money? Finish a massive project? Use that momentum to your advantage.
3. Prepare Like a Pro
Think of a salary negotiation like a big game. You don’t have to show up without practicing you know!!
Here is some of the things you need:
Your wins: Keep track of your accomplishments big and small. Increased sales? Improved a process? Trained a new hire? Write it all down.
Your market data: Back up your request with facts. You can start with ” Based on my research, professionals in this role typically earn $40,00 to $80,000 monthly, and I believe my skills align with the higher end of this range”
Practice your pitch: You need to practice, what you will say, you can do that infront of a mirror or with your family. The more you rehearse the less nervous you will feel.
4. How Do You Actually Say It?
This is the part most people are looking at: like how can I just wake up and ask for more money. But trust me, its not such a big dramatic moment, you either get a yes or No. You can start with gratitude” Thank you so much for this wonderful opportunity. I’ve really enjoyed working as top community manager and being part of the team. Then you can now go on into asking:
“I wanted to discuss my compensation. Based on my contributions to [specific example], as well as market data, I’d like to request an increase to [$X].”
Notice how it’s not demanding or aggressive? You’re being polite, but direct.
5. What If They Say No?
This can be the worst scenario. You ask for a raise and they say no. What will happen next?
Ask why: “I understand. Could you help me understand what factors went into that decision?”
Ask what’s next: The question can be ” What steps can I take to make this kind of conversation possible in the future?”
Negotiate About other Options: Their reason for declining your request might be because they cant offer you more money, but they might agree to other benefits like allowing you work remotely, access to extra vacation days and even professional development options.
I want you not to take a ”NO” too personal is not about your person, sometimes the company budget can be tight, or that is nit the right timing.
Lets talk about my friend Jason, a sales rep in Chicago. Jason had been working for this company for over five years, he felt he deserve a raise.
Here was how he approached it:
He researched and found that similar roles in his area earned $10,000 more annually. He prepared a document listing his accomplishments, including increasing his sales numbers by 25% in one year. In his meeting, he confidently said: ” It is my great pleasure to work here and I’m very proud of how far I’ve gone, like boosting sales by 25%. Based on my findings, I wish to request for a salary adjustment to compensate my contributions.”
Days later Jason got a mail from his company stating reasons why his request can’t be granted at that time but they will look into it. Months later Jason got a 50% raise which was hire than what he was expecting.
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Why Is Salary Negotiation Important?
Let’s break it down;
- You set the baseline: The salary you accept often becomes the foundation for future raises or bonuses. Starting at a fair number gives you a strong footing.
- You avoid leaving money on the table: Many companies expect candidates to negotiate. If you don’t, you could miss out on compensation they’re willing to offer.
- It’s about value, not just numbers: Negotiating reflects your understanding of your worth in the market. It signals confidence and professionalism.
Fun Fact: A study by Glassdoor revealed that nearly 60% of employees didn’t negotiate their initial salary, even though employers often expect it!
The Basics of Salary Negotiation
At its core, salary negotiation involves these key elements:
- Researching your worth: Understanding what similar roles in your industry pay.
- Clearly communicating your value: Highlighting your skills, experience, and achievements.
- Finding common ground: Collaborating with your employer to agree on a fair offer.
My Take On This
Let’s be honest, salary negotiation isn’t just about numbers. It’s about recognizing your value and advocating for yourself. That can feel intimidating, but remember, you’re not alone. Many professionals have successfully navigated this path, and you can too.
Think of it this way, every time you negotiate, you’re not just asking for money; you’re setting a standard for how your skills and efforts are valued. That’s worth the effort, isn’t it?
So you need to do the needful. don’t be scared bugle up and ask for salary raise if you feel its necessary. You got this!!
Questions For The Day
1. Is it rude to negotiate?
Not at all. Employers expect it. Negotiations shows that you know your worth.
2. What is if is start feeling nervous during the negotiation process?
That’s normal! Take a deep breath, pause when needed, and remember you’re advocating for yourself.
3. How much rise should I ask for?
It can be 10-15% higher than your current pay.
References
- Glassdoor: Salary Research Tools
- Harvard Business Review: The Art of Negotiation
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