It is always a good idea to revisit your salary before you reach the end of the year, especially since you never know what the new year will bring. Maybe you will find a way to bump up your pay. But for now, let’s explore the best ways to get a raise.
The first step in your salary negotiation process is to analyze your current salary. You want to know what you are currently earning and whether or not it is enough to make you happy. It is a good idea to have a chat with your boss, as well as anyone else who has a say in your paycheck. If you feel like you are not earning what you are worth, it’s time to have a heart-to-heart with your employer.
Even if you are not looking for a formal raise, you should still try to negotiate with your boss, particularly if you are in a position to affect your salary. Of course, you will want to do this quietly and with good timing. You don’t want to badmouth or argue with your boss in front of other employees, especially if your boss is known for being a pushover. This will not help you in your quest for a raise.
However, if you are trying to get a raise and your boss is not receptive to your ideas, it is time to consider other options. Perhaps you will have to go over your manager’s head, or maybe talk to the CEO, to get what you want. But try not to get discouraged. Most likely, there is some sort of inefficiency that you are able to contribute to and, with a little bit of patience, you will be able to get the raise you desire.
When it comes to salary negotiations, it is important to remain confident and not waver in your demands. Even if your manager is not willing to budge from the initial offer, it is still worth the effort to ask for more. The worst thing you can do, is to grovel in desperation, begging for a raise that will make up for your low pay. Employers do not take pity on people who come across as needy or desperate, it rarely goes down well. Asking politely will not get you far, you need to be assertive and demand what you want. If you are polite but still not demanding, it can make your boss wonder whether or not you are even serious about wanting a raise.
Polite but persistent negotiation is a strategy that often works. Still, it is important to remain calm and not to get too emotionally involved in the process. You need to keep a clear head and, if necessary, apologize for your poor behavior.
Follow The Timing
It is always important to follow the right timing when asking for a raise, particularly if you want to be able to negotiate effectively. You should not ask for a raise at the very end of the year, when your boss has had time to fully consider your performance, as well as that of your fellow employees. Instead, wait until around the New Year, when your boss will have to start considering your salary from a fresh perspective. Your performance during the last part of the year, will have to be taken into account, in addition to how you have performed in the past. This way, you will have a better chance of getting what you want, without feeling like you are being overly demanding. You want your boss to see you as a serious contender for a raise, you will not want to start the negotiation process by appearing aggressive or desperate. Wait until you have some breathing room and, most importantly, some distance from the end of the year, before starting your salary negotiation process.
Focus On Your Goals
When you are salary-negotiating, it is important to have clear goals in mind. What do you want out of the process? Do you want a formal raise? Is it enough to make you happy? Think about the reasons you are raising your salary ask. You are not doing this just to satisfy your ego, or because your friends at work are making a fuss about how little you are earning. You want to be sure that your decision is based on logic and not emotion, so it is worth taking the time to analyze your situation and determine whether or not a raise is right for you.
If you have been thinking about a raise for a while and your boss is not in a position to give it to you, perhaps it is time to seek out other employment opportunities. Even if you are not looking for a formal role, there may be some positions that can provide you with an income boost. Alternatively, you could start your own business or, if you are already earning a decent amount of money, consider investing in property. There are various ways to make money that do not require much brain power, so be weary of getting stuck in a rut.
Take A Long Time To Plan
When you are raising your salary, you should not do it overnight. Taking a long time to plan will ensure that you get what you want, without appearing too demanding or like you are grasping at straws. It is always better to plan and strategize. If you want to get a raise, do not simply ask for it at the end of the year, when your supervisor is under a lot of stress, because chances are, you will not get what you want. Instead, take the time to really think about what you want and need, and plan out how you are going to get it. The more you plan, the better your shot at getting what you want, without appearing overbearing or like you are just going through the motions.
Do Your Research
Doing your research is crucial when it comes to salary negotiations. Researching current wages for comparable jobs will help you determine whether or not to ask for a raise. You should always compare your salary to what is considered a normal or average wage, rather than comparing it to others at your level, or lower. Looking up the going rate for your position will give you an indication of whether or not you are underpaid, relatively speaking, and whether or not to ask for a raise.
To get the most accurate results, be sure to look up not just your own salary, but that of people in your position, as well as people with similar responsibilities, in other companies. This way you will get a good picture of what others are making, without being influenced by other factors, such as the current economic climate. In general, people in your position should make around the same amount of money as you, if not a little bit more. But remember, this is just a general rule and does not always apply. Some people prefer to undervalue themselves, to get a jump start on their salary negotiations. While this can work if you are new to the position and do not yet have an established reputation, you should not always follow this strategy. If you believe that you deserve a higher salary, it is better to ask for it, rather than trying to trick your boss into thinking you are underpaid. You should, however, research your salary, before you go in to ask for a raise, to ensure you do not come off as demanding or aggressive. Looking for a new job is never easy, and even when you are getting what you want, the stress and anxiety can be a real burden. So, before you go in to ask for a raise, do your homework and make sure you are prepared for the conversation, even though it may be difficult. The last thing you want to do is go in to ask for a raise, unprepared, thinking that your social status will open up more opportunities for you. This rarely works out for the best. Be confident, but not overbearing. You will get what you want, more or less, but you do not want to push your luck, if your boss is not willing to renegotiate your salary. And, last but not least, be polite. Even though you are negotiating for more money, you should not be disrespectful or complain about your boss, in front of his employees, even if they are just cleaners. Believe it or not, but being demanding, even if it is only one person you are demanding from, will make you come off as less appealing to your employer. You never know, they might be willing to negotiate with you, after all. So, be humble, but still make them see you as a serious contender for the raise you want.