9 Strategies To Negotiate Pay Rise

Wow! You've got the job offer from the company you have always dreamed of! But hold on a minute! Have you also been offered the salary you deserve? If you have answered "no," it's time to do the inevitable! We get it! It's difficult to ask for a pay rise from your current employer or the potential one. Further, it may often make the employee embarrassed or uncomfortable, even!

Let's face it! Doing more work is far better than asking for a raise; however, when you know that you deserve better, it will do you good to negotiate your salary hike. It may be a rugged mountain to climb, but you can quickly master the art of negotiation. All you need is confidence, patience, and plenty of practice.?

Here are 9 strategies to efficiently negotiate pay rise:

1. Research Before Your Ask For A Pay Rise

Before you walk into your boss's room to ask for pay rise that you believe you deserve, you must do your research in terms of expectations from your employer. Start by looking at the pay structures of those who work in a similar field. Further, you can browse the information on the Internet. Some of the websites that give you vital information on the salary structure are payscale.com. salaryguide.com and glassdoor.com.

With data, you can work up your courage and confidently ask for a salary hike. Some of the important questions you might want to ask while doing your research would be:

Is there a demand for the field that you are employed in? If there is a tremendous demand, you have a more significant advantage.

Can the company do without you? In other words, are there any competitors for you in the firm?

Consider the long-term growth of the company too. For this, you must know about the kind of profits that it has made in the last year or so.

Now that you have a decent idea of the purpose of your job, the market standards of pay structure, and how valuable to your company, you can begin your salary negotiations with ease.?

2. Be Ready To Play Advocate For Yourself

Asking for a pay rise is similar to marketing you as a brand. Therefore you must list down the essential ways you have benefited the organization. Believe in yourself and demonstrate by appreciating the work that you have done. It would help if you made a crucial effort to build a name for yourself. It is time to look for the strengths you portray and consider all the accomplishments that have come your way. Also, it is keen to associate your achievements with the income you have generated for your company. It is not wrong to jot down every positive day you have had because you will surely be rewarded.

As you are aware, a pay rise involves a monetary decision. As a result, your employer will want to see long-term results. If you can provide what he is looking for, negotiating a pay rise will be a relatively easy mountain to climb.

3. Prepare Your Manager In Advance For the Meeting?

Surprising your manager with matters concerning your pay rise is not polite. Therefore giving them sufficient notification beforehand will have a positive result.

Let us understand that the topic of? "Salary Hike" is not something that your boss or employer wishes to deal with regularly. However, if you prepare him well, the situation will become less stressful and a successful meeting for you.

So, it is best to send an email and request a meeting. Then, list down the reasons for your meeting and give him time to prepare and be ready to speak with you.

Always remind yourself that pay rise is linked to your performance. Hence, while negotiating your pay rise, you must come up with good points that provide enough reasons to deserve it.

4. Have A Mock Session With A Trusted Confidant

It is true negotiating a pay rise is rugged terrain to maneuver. Further, you may have terrible jitters before the meeting. However, you can overcome them by having a mock meeting session with a trusted friend or a confidant.?

The more you practice your points, the better you can express them during the meeting. The fact is, if you are well prepared to negotiate your pay rise, then you will be ready to justify the reasons for asking for it.

5. Have The Right Perspective During The Meeting

It is highly crucial to maintain the right perspective during the meeting. Further, always view each issue from the company's point of view. Work on your strengths and logically explain the reasons you are requesting a pay rise. Also, make it a point to let your manager know the level of commitment you are bringing to the firm. You will greatly benefit from keeping your manager in your best interests.

Moreover, you may get a bit out of focus during the meeting, but ensure that your nerves do not get the better of you. In case of negative feedback about your performance,? do not defend yourself. Instead, understand the ways you can do better. Finally, listen more and speak less. While negotiating a pay rise, it is best to hear what the boss says about you rather than vice versa! It will ensure a positive result while maintaining? a good relationship.

6. Dont Talk About Money But Add Value to Yourself

Whatever is said and done, not all negotiations will head in the direction you expect them to go. However, you can handle every outcome positively when you have expectations right.

So if your boss is not ready to give in to any of the reasons you have put across, you must try and negotiate your work timing, employee benefits, or other performance-linked allowances. These are small but relevant to your overall career with the company. Hence, while negotiating a pay rise, don't let it be only about money but bring value to the table. Which in turn will be a win-win situation for both parties.

7. Don't Let Your Emotions Rule You

Another vital tip to consider while negotiating a pay rise is never to let your emotions rule you during the meeting.?

Supposing your boss does not offer the pay rise you expected, avoid becoming overly disappointed. Instead, take time to respond to the situation. Reacting emotionally will end up harming your success in the firm. Furthermore, remember to stay professional throughout the conversation and try to achieve a beneficial agreement.

8. Get Ready to Answer Tough Questions

You never know the questions that might arise during the meeting with your boss. Therefore it is better if you are ready to answer any of the tough questions you are asked during the course of the meeting.

You give your boss a positive impression when you answer a difficult question elegantly without actually dodging the answer. Remember, always remain true because if you alter your responses, they may backfire. Further, it is unethical to answer incorrectly. So, while negotiating your pay rise, ensure you do not bargain much but look for ways to support your reasons more assertively. Finally, impress your boss by preparing well for the meeting and be confident with an answer to any difficult question.

9. Be Grateful and express them graciously.

Being grateful will take you a long way. Hence, when you receive the pay rise as expected from your employer, be ready to show gratitude and express them graciously. On the other hand, if the offer does not match your expectations, you must learn to decline the offer professionally. Keep the door open for future opportunities. You never know what might come up down the road.

Takeaway

The art of negotiating a pay rise is a significant skill that can impact your financial status and the advancement of your career. A higher salary indicates that you can achieve your financial goals. You will increasingly become satisfied with your job and be motivated to do better.

Negotiating a pay rise sends a message to yourself and others that you value your skills and contributions and are committed to achieving your full potential.

By following tips to negotiate a pay rise, you can increase your earnings, demonstrate your value, and positively impact your professional and personal growth.