Whether it’s with a current employer or a potential new one, negotiating salary can be an awkward conversation to have. The best advice I can give is to go in fully prepared for any outcome, do your research beforehand and have evidence to back what you’re saying. To negotiate a salary, you need to be coming from a position of strength, of course being prepared and having evidence is just as important, but I think you also need to be coming from a strong position, it’s something many people don’t consider but necessary if you want results.
Below I have listed some helpful tips when it comes to negotiating your salary.
Know Your Value
If you’re going to get the pay you deserve, it’s crucial to know the market rate for your position in your specific industry and in your geographic area. If you walk into a salary negotiation without a number, you’re at the mercy of an experienced hiring manager who knows exactly what they are talking about.
Ask Recruiters
Another way to do some research is to pick up those calls from recruiters. They know what people with your experience and expertise are worth, so use it to your advantage! You may not get a specific number, but even a range is helpful.
Make Sure You’re Ready
Before you ask for a raise, you need to think about a few factors. Have you been at your job for a year? Have you taken on new responsibilities since you’ve been hired? Have you been exceeding expectations (rather than just meeting them)? The answer to all of these should be “yes.”
Plan the Right Timing
Turns out, timing is everything. This goes back to what I mentioned before. Most people wait until performance review season to ask for a pay rise, but by that time, your boss has probably already decided on a figure (if any) Instead, try having these conversations with your boss three to four months in advance.
Don’t Forget to Listen
Listening to the other party during a negotiation is almost as important as making your own points and supporting your argument. This way you can understand his or her needs and incorporate them into finding a solution that makes you both happy, if not it’s something for you to work towards.
Do not lie
People tend to think ‘If I add £5k more onto my current salary, my next employer will offer me more money?’ Can you imagine discovering that to get everything finalised with your new opportunity you need to show your last payslip!! Well trust me, it happens so always make sure you are honest with your potential new employers and with ALL aspects of your CV, Especially salary!
Finally...
Did you know?
Studies show that you’re more likely to get a raise if you ask on a Thursday. We tend to start off the week more hard-faced and even disagreeable but become more flexible and accommodating as the week goes on. “Thursdays and Fridays find us most open to negotiation and compromise because we want to finish our work before the week is out’’