How to Negotiate Salary Effectively
Picture this: You want a raise, but all of a sudden, when it’s time to talk to your boss, you are shaking in your boots. Although you’re aware of the high caliber of talent and experience you bring to the table, imposter syndrome is taking over and you are at a loss for how to ask for what you deserve. The conversation might seem daunting, but it is possible to negotiate salary effectively and have the confidence to ask for more.
Here are a few ideas on how to lead salary discussions and ask for what you are worth in the workplace.
1. Educate yourself on salary trends in your industry.
The best ask is an educated ask. Informing yourself on industry salary trends is an important first step when beginning the process of negotiating salary. Know your worth and know the value of your work based on industry trends and the city where you live. Glassdoor is a great resource to learn the going rate for your job and experience level based on your geographical location.
2. Think like a lawyer and build your case as to why you deserve more.
Document your accomplishments. Bring a list or presentation of the growth that you have orchestrated for the company (whether it’s increased revenue, social media followers or partnerships). Also, be sure to highlight your strengths and the reason why you believe you deserve a raise.
Besides evidence, any good lawyer also brings in a strong witness. In this scenario, your manager or anyone you work directly for or with can provide insight on the work you do on a daily basis and provide support for your case.
3. Factor in give-and-take perks and benefits.
When asking for a raise, keep an open mind to what advancing in your position might look like. In addition to increased revenue, factor in additional perks and benefits like flexible hours, unlimited PTO, free mental health care, continued learning stipend, paid parental leave, child-care benefits or senior-care offerings.
Benefits like these might be more cost efficient for your employer. Take time to consider what would increase the “value” of your request based on your needs and make the offer more attractive.
4. Practice your delivery with a trusted adviser or friend.
A few things to practice: Be direct and stay positive to effectively navigate these discussions.. There is no beating around the bush when it comes to asking for more. Getting straight to-the-point with a positive attitude will give you the confidence to navigate the conversation. Another pro-tip: Practice your pitch with a trusted adviser or business savvy friend who can help coach you on your delivery and navigate any unexpected questions.
5. Get written documentation of salary and benefit negotiations.
Once you have received a salary offer, get it in written form. Documentation is important for both you and your employer in case there are any discrepancies down the road. This way when you decide to use those perks and take that vacation, you have verification that you do indeed have PTO.
One extra piece of advice, once you have asked for a raise and you see that your employer is unwilling to budge or negotiate, be willing to walk away. Know your worth and the skills and experience that you bring to the table. If they are unwilling to give you a seat at the table equal to your value, be willing to grab a seat elsewhere and make your own table.
How have you effectively negotiated salary?