How To Get A Pay Rise – Everything you need to know to Negotiate Your Salary like a Pro

How To Get A Pay Rise – Everything you need to know to Negotiate Your Salary like a Pro

We all know new jobs and performance reviews equal salary negotiating opportunities, but do we actually ever ask for MORE money?

How To Get A Pay Rise – Everything you need to know to Negotiate Your Salary like a Pro

We all know new jobs and performance reviews equal salary negotiating opportunities, but do we actually ever ask for MORE money?

A survey by Salary.com revealed that only 37% of people always negotiate their salaries—while an astonishing 18% never do.

Even worse, 44% of respondents claim to have never brought up the subject of a raise during their performance reviews.

The biggest reason for not asking for more? Fear.

And we get it: Salary negotiation can be scary. But what’s even scarier, is not doing it!

As the saying goes… ‘If you don’t ask, you don’t get’, and the majority of times this is applicable in businesses. Unfortunately, in the world of business, hiring managers, bosses and CEOs don’t always volunteer pay rises; meaning that it’s up to you to negotiate your way up to a higher pay scale.

KNOW YOUR WORTH

One of the major factors when negotiating a job offer is to recognise your own worth. If you’re thinking about asking about a pay rise, it’s integral that you know the ‘going rate’ for someone in your position and the area that you work in. Useful websites for this include Glassdoor, Payscale and LinkedIn. Therefore, you need to be going into the negotiation with an actual figure in mind, without this, you have less control over the conversation and more scope for the hiring manager to lead the conversation.

ARE YOU READY?

Another important factor when negotiating a job offer is to make sure you’re ready! There’s no point in asking for a salary increase if not ready for one. Obvious? Maybe. But it’s surprising how many people get this wrong. You have to ask yourself some questions… have you been in your job for a reasonable amount of time? Have your responsibilities progressed in your role since you started? Have you been exceeding expectations in your role?

SET A FIGURE

Don’t use a range! Mike Hoffman suggests that you should never use the word ‘between’ when negotiating. When asking for a pay rise, giving a range implies that you’re open to accept a lower figure than you’re actually asking for.

BE PREPARED TO NEGOTIATE

Finally, don’t be put off if someone says the word ‘No’! It’s fair to say that not a lot of people like to be told no, but this is what negotiation is all about, it wouldn’t be negotiation if someone was asking for a deal that both sides of the party want. Expecting to hear the word ‘no’ is part of the process, it’s about how you deal with that answer that matters.