15 Tried and Tested Ways to Effectively Negotiate a Pay Rise
Negotiating a salary increase can help ensure that you are being paid fairly and competitively for your skills and experience. Additionally, it can demonstrate to your employer that you are committed to your job and value your contributions to the company. It also can lead to better compensation packages and benefits.
Statistically, it is generally beneficial to negotiate for a pay rise. Studies have shown that people who negotiate their salaries tend to earn more than those who do not. For example, a study by the American Association of University Women found that, on average, women who negotiated their starting salaries earned 7.6% more than those who did not. A similar study by the National Center for Women & Information Technology found that women who negotiated their salaries earned an average of $7,000 more per year than those who did not.
Here are some tried and tested ways to negotiate your salary:
- Do Your Research: Before asking for a raise, research your industry and learn what the going rate is for someone in your position. That way, you’ll have solid evidence to back up your request.
- Be Prepared: Know what you’re going to say, how you’re going to say it, and what points you want to bring up. Make sure to be respectful, and explain why you deserve a raise and how it will benefit the company.
- Ask for What You Deserve: Don’t be afraid to ask for more than you think you’ll get. Employers often expect employees to negotiate, so be bold and don’t be afraid to ask for the salary you deserve.
- Know Your Value: When negotiating a raise, it’s important to know your worth. Make sure you can back up your request with facts, figures, and accomplishments from your job performance.
- Time Your Request: Timing is important when it comes to asking for a raise. Consider scheduling a meeting with your supervisor during a slow period or when your performance has been particularly strong.
- Listen to Feedback: During the negotiation process, listen to the feedback your supervisor gives you. Make sure to take their comments into consideration and adjust your expectations accordingly.
- Be Persistent: Don’t give up if you don’t get a raise right away. Show them you’re serious by following up and reiterating your request.
- Negotiate Benefits: If you can’t get a raise, consider negotiating other benefits such as extra vacation days or a flexible schedule.
- Show Gratitude: Even if you don’t get a raise, express your gratitude for the consideration. This will make a good impression and show that you’re a team player.
- Leverage Other Opportunities: If you can’t get a raise, consider other ways to increase your income such as taking on additional responsibilities or pursuing other opportunities.
- Stay Positive: Negotiating a raise can be stressful, but make sure to stay positive and keep a good attitude throughout the process.
- Use Your Network: Don’t be afraid to reach out to your network for advice. They may be able to provide insight or connect you with someone who can help.
- Consider Counteroffers: If you receive a counteroffer, take the time to consider it carefully. Think about how it will affect your career and the company’s bottom line in the long run.
- Don’t Take It Personally: Remember that it’s not personal—it’s just business. Even if you don’t get a raise, remain professional and work on building a good relationship with your supervisor.
- Follow Through: Once you’ve received a raise, make sure to follow through with your part of the bargain. Continue to work hard and exceed expectations to show you’re worth the raise.