What you need to get a salary you ought to get.
This is important because the value of the services you render could turn out high. And this is requiring that you re-negotiate. What will you do when this time should come? It is important to approach the issue objectively, have a sample and evidence-based case for your desired salary so that you can negotiate for your salary.
We’ve got basics of salary negotiations on how to find out your objective value from job market data, best practices for salary negotiations, how to negotiate a raise, and what you should do after a salary negotiation.
Salary Negotiations – Meaning
Salary negotiation should be a discussion between yourself and a representative of your current company which helps you secure a higher salary. This negotiation can make whether you are a new-hire or even a long-time employee if you feel that your salary is not enough. Don’t hesitate to negotiate for what you deserve.
Here is what you should prepare when you want to negotiate for a better salary.
- Have proof: you would need to build your case that you worth what you negotiate. Set out the values you offer to employers in your career. You worth investing in!
- Be firm with your reasons: you must prepare to answer questions like “Why do you deserve this salary?” you should be able to face some resistance.
- Strike a Balance between Firm and Flexible: this does not really work out at the very first time you negotiate. So be ready to go back and forth to ensure that you reach a compromise you must have a ground or specifically say yes to a minimal salary increase.
Need for Negotiating your salary
It is important to know that negotiating your salary is out of the core value of an employee. It is perfectly a normal part of the employment process that you must understand. Negotiating your salary actually defines that you are advancing in your scope of career.
There is more to deposit to your bank account. Salary should be what shows that the work done is highly appreciated and that is what adds value to you and your skill. It is a way your company supports your work-life balance via career development, work flexibility, and Health-related perks.
How to find out what you’re worth
Before you proceed into negotiating a salary, it is important you find out how much someone in your position with experience and in your location should be paid. You will never reach a compromise without a realistic compensation package. You must define a salary range, and know your worth.
In Defining your worth,
Firstly, you must know what people in your position, having the same level of experience are earning in your area. You may have the same level of experience with someone but if the environment you find yourself varies from the other person, the salary earning may not be equal as yours. Thus the environment is an influential factor that affects it.
Ideally, you can visit Glassdoor’s salary search tool to get your baseline information.
Find out your Worth
After researching the compensation range for the job, next is the average compensation with market worth. Also use the Glassdoor’s Know Your Worth tool to get personalized estimated market value, i.e what others in your field are being paid and available job listings.
Tips for negotiating Salary
- Have a salary range rather than a single figure
- Don’t Sell Yourself Short. Add value to your career.
- Practice your pitch at least once before the actual negotiation
- Be confident in your delivery
- Avoid accepting the first offer
- Understand your leverage
- Be gracious
Note: Your responsibilities will increase after negotiating for your salary and also don’t forget that you are not done negotiating because your job might become harder if you end up taking on new.