Are you looking for a new, better paid job or are you trying to get a raise in your current one, but the very thought of starting negotiations makes you dizzy? It is worth remembering that negotiations are not to be feared. At best, you will get a raise, and at worst, nothing will change. You can only win.
1. Know your value in the market
The biggest mistake you can make when negotiating wages is lack of preparation and fear. On the Internet, you can easily check how much on average people working in similar positions earn, as offered by companies. When entering into negotiations, it is extremely important to know your worth and not be afraid to present it. This is especially important for people who are just starting their career path. If you accept an offer that is 20% lower than your value, it will be very difficult for you to “catch up” with increases. Research the market in the industry that interests you. Invite people who already work in the position you are interested in for a coffee and ask about the prevailing financial standards. You don’t have to agree to the first amount proposed by the company, don’t be afraid of negotiations. You appraise your worth and if you lower your price you will pay for it for years.
2. Express your expectations
The boss can always decline your negotiating wishes, but it is your responsibility to express that wish. You shouldn’t be upset if you don’t show – respectfully – your willingness to make a change. If you are unhappy with your salary in terms of the benefits you bring to the company, talk to your manager about it. If you experience discomfort, focus on making your proposal. After that, the baton will be on the side of the person who will have to answer “yes” or “no”. At best, you’ll get a raise, and at worst, nothing will change. Also, you can only win.
3. Negotiate based on the results
Come to the negotiation meeting with a pre-prepared list of your successes and benefits that you have brought to the company. If possible, use numbers and percentages – you will make a better impression saying that thanks to acquiring two new clients for the company, your profits increased by x% than just that you gained 2 clients. Prepare yourself substantively in the context of future benefits for the company that may flow from offering you a raise. Think about what additional duties you are able to assume and what additional duties you have already assumed.
4. Focus on Business Value
Don’t negotiate from a complaining standpoint. Rather, let go of the arguments that your current salary is deplorable and that you deserve more. Also, do not rely on the length of continuous employment in the company. Focus on arguments about the value you have brought for the company so far and the value you plan to add in the future. Show that the sum you are asking for is a well-thought sum and correlates with the benefits received by the company thanks to your work. Prepare a list
5. Negotiate the benefits
Remember that the salary is the main part of the salary, but the full package consists of more elements. If the company is currently not in a physical condition that would allow it to increase its salary, suggest alternative solutions that will positively affect your satisfaction with the cooperation. Perhaps you care about a work-home balance, and the ability to perform duties from home one or two days a week will be even more valuable than a slightly increased account balance. Consider negotiating extra vacation days or more flexible working hours.
6. Negotiate when the moment is right
Try to enter into discussions when your supervisor is in a good mood. If you know that an important deadline is approaching, a tender is approaching, or other stressors have emerged, try to postpone the meeting to a more relaxed date. You have a better chance of achieving the expected result if the interlocutor is able to focus on your request, rather than focusing on bigger problems in the company. This also applies to the interviewee’s personal situation – after all, we are all human and we have bad days.
7. If you get a negative answer
Perhaps the company will refuse your request. Perhaps a positive answer is not allowed by poor results or other reasons depending on you. However, it may happen that during the interview you learn something about the company’s financial situation or the structure of promotions that will give you food for thought. Perhaps this company is not able to offer you much more, regardless of the effort you put into doing your job. It is worth being aware of this and planning your career path based on the acquired information.