How To Successfully Negotiate Your Salary

After spending time in your position, you may feel like you deserve a pay raise. Maybe your job duties are increasing, but your salary isn’t. Perhaps you helped boost the company’s revenue, but they haven’t compensated you for that additional value.

Regardless of your circumstances, it’s time to negotiate a new salary. Many people are hesitant about asking their supervisors for more money, but you can navigate effectively through this process with the right tools.

Read how to successfully negotiate your salary for helpful tips.

Research the Position’s Market Value

Before thinking about a new salary number, it’s critical to research your position’s market value. Check the salary range for your position, and compare it to your current salary to help you determine your desired salary range.

If there is a significant difference between your salary and the position’s market value with no apparent mitigating factors, you can consider taking legal action for unpaid wages.

Develop a Strong Case

Negotiating is all about reaching a beneficial outcome for both you and the other party. When you negotiate your salary, it’s essential to develop a strong case. State why you deserve the salary and present any evidence of your value to the company.

For example, you can say, “I want a higher salary because I increased my department’s revenue by 34 percent.” This type of argument is much more persuasive than simply stating, “I deserve more money.”

Prepare Talking Points

Before talking to your boss, prepare talking points to help you prioritize your thoughts and lay out everything you want to speak on. Avoid going off on tangents during your discussion because you may get sidetracked.

Instead, you want clear and concise speaking points for a productive meeting. Before speaking to your boss, go over your talking points with a friend or colleague. They can offer support or suggestions for things you can mention.

Pick Your Desired Salary Number

When negotiating your salary, pick your desired number and write it down. Think of a salary range but do not write it down. A written salary range gives the other party more power because your boss may choose the lowest salary option.

Employees who use exact numbers are likely to get a final offer closer to their desired salary.

You put a lot of time and effort into your work. Therefore, you deserve proper payment. If you’re thinking about negotiating your salary, always refer to our tips on how to successfully negotiate your salary for assistance.