No one likes discussing money. In fact, for most of us, it’s stressful and potentially very awkward. But sometimes, there’s just no getting around it.
There are several reasons why there might come a time in your career when negotiating a pay rise is necessary. You’ve discovered your colleague’s financial earnings exceed yours, or you’ve done your research and you’re not reaching the average salary for someone in your position, or maybe you’ve realised that you just deserve it. Either way, there’s way to go about it.
Here are 5 things to remember or mention when the time comes to negotiate your financial package to ensure you’re laying the foundations to an agreement in your favour:
1) This is a collaboration not an argument
Diving right in with a confrontational stance won’t stand you in good stead. Explain why this is a great idea for the company.
2) Do your research
It’s helpful to back up your case with key statistics. For example, what’s the national average for someone in your position? Do you do more than the
3) Know your worth
It’s important to outline what you’ve brought to the company. Has your latest implementation generated an increase in profit? Although your personal value doesn’t have to be financial. comparison to the money you’ve made the company, your pay rise could be a small price to pay for an employer.
4) Never give an ultimatum
No one likes to be made to feel pressured into a decision. Honestly, your employer will know that you will be thinking about leaving if they reject your proposal, there's no need to specifically outline it.
5) Remember your please & thank yous
People constantly underestimate the power of politeness. You’ll be surprised how effective simply saying please and being appreciative can boost your cause.