You’ve been working in your job for awhile now, and you’ve been going the extra mile to prove yourself to the company. Maybe it’s high time you were repaid with a little extra salary? For some people the words “salary negotiation” make them almost nausious with anxiety. The thought of actually approaching your boss and asking for more money is beyond terrifying!
A lot of people’s job dissatisfaction comes about because they are working for less than they are worth. Many people even leave their current employment for a better paid job, when all they really needed to do was get up the courage to talk to their boss!
Obviously, it’s a subject that has to be handled delicately. And, believe it or not, most employers do expect their employees to ask for raises on occasion!
The fact is, if you are a good employee it will be worth your boss to pay you more to keep you, than it will be for him or her to find someone else to replace you.
So how should you go about salary negotiation? Firstly, you need to be realistic. Do a little research and find out what other people in your position with your years of experience are getting? This doesn’t necessarily mean asking your fellow employees (this can be counterproductive, especially if it gets back to your boss), but it may mean doing a little online research or talking to a headhunter or external recruiter.
First of all consider how long you have been working at the company without a pay rise. If you’ve been working there three months and are just out of the trial period they set for new employees, don’t bother. Get at least a year’s experience in your current position, all the time showing your boss that you are willing to go the extra mile to get the job done.
When you do meet with your boss, be as calm and relaxed as possible. State your reasons concisely and firmly, and make it clear why you believe you are worthy of a salary increase. Don’t be afraid to ask for more than what you want, either. You may not get as much as you ask for, but you’ll possibly get more than you expect!
What if your boss isn’t willing to come to the table? Firstly, find out the reasons why. There may be a freeze on pay rises, and there’s nothing he or she can do. Depending on the size of your company, your boss may have his or her own superiors to answer to.
If you honestly believe you deserve a higher pay rate, and you believe that your boss could offer you higher pay if he or she wanted to, but refuses, it may be time to look at other options outside your current position. However, a reasonable boss who knows when he or she has a good employee will usually do what they can to ensure the employee is well compensated for their hard work.
Nice read…in India…generally, negotiations do not work and the only way to get a decent hike is by either getting promoted or by exiting. It is indeed a very odd behavior.
Cheers,
Rupen Sharma, PMP
Great article!
In a period of costs reduction it is a really taboo on taking about salary negotiation.
Thanks a lot for the valuable tips.
salary negotiation has paid special attention to the possibilities of learning in primary,secondary and higher education research in order to respond to the increasing demand for highly trained teacher,student and human resources for paradigm shifting and education and economic development…my own thinking on salary negotiation as futuristic idea to augment opportunities for education and teaning…….how to improve the quality of life?…..
Very interesting article and more over during a worlwide financial crisis. I belive that under this scenario, for a salary negotiation, you need yes, a deep and honest evaluation of your job performance but also the necessity of your position to the organisation. -you could be on the list and if you haven’t do this evaluation, you can probably remind your boss that your name is on the list-
there is no room for such scenarios anyway, as there are structured & scheduled appraisals annually in every organization. even when this discussions happen during appraisals, the chances of anyone re-negotiating & getting a better raise at appraisals is remote. But it is a good lesson on employee- boss interactions.
Brilliant article. So deep and insightful. Here are some more suggestions along the same vein:
1) If you ask for too much money, your boss is likely to say ‘no’.
2)If you are not very good at your job, it might be best not to ask for a pay rise.
3) If you are a woman, never ask for a pay rise with your breasts hanging out. It might send the wrong message to your boss.
I must disagree with Rupen here. It does happen in India. I have asked for and got a hike too. The request must be reasonable and justifiable etc as mentioned by the author in this article. Let us not prototype people or country etc anymore and kill ourselves by projecting wrong image.
I am working as a Marketing Executive in Pakistan, and I asked for my raise after 6 months on the job. I was granted it because my supervisor knew that I was being paid less then the person I actually replaced and my work quality is higher and so is the amount of work I do.
My major mistake was that when I joined I was promised a higher salary by the Supervisor and the HR department granted me a lower salary. At the peak of recession it was hard for me to gather the balls to ask for more as long as work was coming my way. Now looking back I realize that never hesitate to ask for what your worth or what others in your position have received as long as you have confidence in your abilities.
I must stress that in the subcontinent employers generally want the best for the lowest and usually end up saving a lot of money by expecting MBA’s for even coordination based jobs of the most simplest nature. Those that have not graduated from decent universities are forced to work as MBA’s even in those jobs and those from better universities end up having a hard time getting good paying Jobs unless you come from the very top Business University.