Asking for a raise or salary negotiations require a combination of bravery and preparation. If you think that you are not being paid enough for the job that you are doing, or you simply need higher wages, there are ways to approach the situation that are more likely to get you the result that you want.
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If you think you deserve more money for the job you do, this post presents the essential steps you can do to help you win salary negotiations.
Market research.
Before you ask for better employment terms, it is a good idea to gauge what other people in similar positions within similar sized organizations are being paid. One easy way to do this is to take a look at job ads or industry-specific guides such as Motion Recruitment’s IT Salary Guide.
Make sure that you directly compare your role, skills, experience and qualifications with those of the roles that you are investigating and feel free to ask your network, peers or an independent recruiter for advice.
It is important that you don’t undervalue yourself, however by overvaluing yourself you could risk future career opportunities.
Identify your strengths.
Research shows that employment benefits are usually the most important factor influencing whether someone accepts a new job, so employers have to make sure that their packages are attractive enough to entice the best talent.
Based on your research, you should be able to come up with a list of skills and qualifications that exceed those that are standard within your role.
While qualifications are very useful in salary negotiations, if you have the skills and experience and can prove that they match a qualification, you may have an opportunity to emphasize your capabilities without having a certificate to prove them.
Showcase your abilities.
When it comes to proving your worth to current or future employers, it is a case of show and tell. You have matched your skills and qualifications to those required for the job; now it is time to highlight specific areas or incidences where you have brought value to your team.
As you work your way through job specs, highlight required qualities and start thinking about specific examples that you have which demonstrate your abilities.
Ask for feedback.
Asking for a raise isn’t something that only happens once. If you are considering asking for better employment terms, or you have been turned down previously, take the time to ask your line manager for feedback.
If they don’t think that you are excelling in your role, ask them what you can do to improve performance and improve your opportunity for a pay rise.
It is vital that you see feedback as an opportunity to achieve success, rather than criticism; the ability to distinguish between the two will often make the difference between a successful career and one that just plods along.
Focus on skills development.
Feedback is only as good as your response to it. If your feedback is that you could do with better communication skills, take a course; if you are lacking in a technical element of your role, look for appropriate certifications and make sure that your employers know what you are doing; they may even help with any associated costs.
From mentoring to coaching for specific areas of development, grab every opportunity to develop yourself so that you can build your skillset, develop your confidence and feel ready to reach for more.
Ask with confidence.
If you reluctantly go to your manager and ask for a pay rise, they are unlikely to say yes. The point of the previous steps is to build your confidence so that you know your worth, know that you deserve better employment benefits, and have the evidence to support the request.
If you don’t feel that you can fully back yourself at this stage, it may be wise to hold off for a little while. Focus on your performance at work and building your skills and knowledge so that when you do ask, you know that you are in a great position.
With that in mind, there is no harm in approaching your line manager and asking what you might need to do in order to achieve the next pay scale, reach the markers for a bonus, or be a prospect for promotion.
For employers, it is far cheaper to retain and develop staff than to recruit and onboard new employees, so unless your request is unreasonable, a sensible employer will carefully consider the options in a bid to keep a valued member of their team. Remember: if you don’t ask, you don’t get!
Salary Negotiations – FAQs:
How soon can I ask for a pay rise?
If you don’t think that a job is offering enough money when you are going through the recruitment process, it might be a good idea to ask some questions at the time for example, find out what the development prospects are for the post.
Once you have accepted a post, it will not show you in the best light if you try to negotiate your salary after you have agreed to take the role. Once those pre-offer salary negotiations have been completed, it is wise to wait at least 6 months into your new role before pushing back and asking for more pay.
How much should I ask for?
It is hard to pitch your pay rise correctly and the amount you ask for might depend on your current salary, the role that you were employed to do vs what you actually do (if the two differ), and your organization’s financial position. In general terms, it is advisable to ask for between 10 and 20%.
When is it NOT a good idea to ask for a raise?
When it comes to requesting a raise, timing is key. As previously discussed, don’t be tempted to push for an increase in salary too soon within a new post; wait at least 6 months. It is also extremely prudent to gauge when the optimal time is financially.
For example, it is a great idea to ask for a raise if your company has a big new contract, particularly if it is one that you or your department was instrumental in securing.
On the flip side, it is usually a bad idea to ask for a pay rise in the midst of a financial crisis or following the loss of a big contract or client; at this point you want to avoid drawing the attention of managers who are potentially looking to make cuts.
What shouldn’t I say when asking for a pay rise or during salary negotiations?
When deciding what to say to your boss when asking for a raise, it is a good idea to start with what not to say. For a start, it is never (ever) a good idea to ask for a pay rise based on a colleague earning more than you.
Aside from the fact that it is not professional to be discussing earnings with colleagues, you don’t know the reason for their increased salary, so you could be highlighting not only your lack of professionalism, but also your lack of experience or skills in comparison to a colleague.
Other mistakes are citing length of service when you should be citing what you have brought to the organization and threatening to leave unless you get a raise (a very risky approach unless you have got another, better-paid post to go to).
