Get the Salary You Deserve
Practical tips on how to ask for a raise
1. Know what you deserve (What is your market value?)
Salary negotiations are not always easy. You have to know what you deserve and be able to communicate your worth. If you want to negotiate a raise or get more benefits at work, it’s best if you know the demands of the market.
Know Your Worth: Know what others in similar positions are making in the competitive marketplace for your skillset with a similar level of experience. This way, when negotiating your salary with an employer, you can confidently state that salary that is on par with what others in the same industry are earning for roughly the same workload and responsibilities.
2. Research comparable salaries for your skill set
Let’s say, the median salary in your industry is $51,200 per year. However, as an individual working in the field, you may find that your skill sets are worth more than $51,200 per year.
Individuals in certain fields may find that their skills actually exceed the median salary of the industry. In some industries, such as interior design and law, experts may make more than the median wage due to a high skill level or specialization. However, most people in these professions will still enjoy a reasonable standard of living. For example, a person who works in engineering may earn an average of $71,000 per year. This can be due to a number of reasons such as having more advanced degrees, or higher levels of expertise.
3. Gather data on benefits and perks that are important to you
Every company is different and they offer different benefits and work from the ground up. But there are a few things you should look out for when you are deciding where to work.
The first thing to consider is what type of industry your company is in. For example, if you are looking to work in advertising or marketing, keep an eye out for companies that offer tuition reimbursement or free snacks as these are common perks.
4. Prepare for the negotiation meeting
In order to succeed in a negotiation meeting, you need to be prepared. You should do your research and know what your counterparts are going to say. One of the most important things you need to prepare for is the negotiation meeting agenda. That way you can prepare yourself and remain focused on your goal.
In the end, preparation is key when it comes to successful negotiations. It doesn’t matter if you are a business owner or a salesperson – preparation is imperative in order for you to be successful in achieving your goals.
5. Keep a poker face, and don’t give in too soon!
It is important to keep a poker face and not give in too soon. The person who reveals their hand first will be the one who loses.
It is a common assumption that if you have nothing to hide, you don’t need to worry about being polite. However, it turns out that politeness may be more important than we think when it comes to getting what we want. A study of negotiation in American universities found that when people were unkind during negotiations, they were less likely to get what they wanted than those who were polite or neutral.
The study also found that women are less successful at negotiating than men because women are more likely to be seen as pushy and aggressive, while men are seen as assertive and strong. It is a well-established double standard that has roots in gender bias.
6. Write down your desired salary (and make sure it’s reasonable)
Some jobs are extremely popular jobs but they require a lot of time and effort. This is why most people settle for lower-paying jobs and compromise. If you want to land your dream job, you need to understand how much money you need to make so that you can be realistic about what your salary needs to be.
7. Make an offer that is very close to what you want, not too high or low
This is an excerpt from a book called “The Tao of Sales”:
“You should never talk about what you want. You should always talk about what the other person wants. What do you think they want? They want to buy! They want to make money! That’s right, they’re in business for themselves just like you are.”
This is one of the best pieces of advice I have ever received and it has been a big factor in my success as a salesperson. When we ask someone what they need, we’re not talking about their needs—we’re talking about our needs and trying to get them to buy something that we want them to buy.But when we ask them what their needs are, they are more likely to tell us what they would like from their employers.
8. Be ready for turn-downs – it’s just part of the game!
In any kind of job, one will face rejection. Rejection is just a part of life. However, it can be something to take personally, especially when it comes in the form of a rejection letter about your work.
It’s important to handle rejection with grace and understanding in order to learn from the experience and not let it get too personal. Especially if you are dealing with this situation in an interview process, it’s important to learn from what you did wrong and not let feelings such as anger or discouragement get the best of you.