Getting a salary raise is a hope every employee nurtures now and then. But not everyone has the gut to start this conversation with a manager and not everyone knows how to approach this action. With our tips, learn how to build your case and how to lead negotiations that will deliver a positive outcome, if not a raise, then the manager’s appreciation of you as a valuable part of the company. You will need certain negotiation skills and some preparation work before you can ask your manager if they have a few minutes to talk with you. With CMA trainings under your belt, you will make it faster and more professionally.
Step one. You have to learn what you are actually worth right now and why. Monitor the market salaries in your field and derive some median salary that you’d like to get. If you want to get the salary higher than average, you will have to provide explanations and proofs why you deserve it and why the company should give it to you. So prepare your pitch and a brief list of your actual accomplishments and a multitude of tasks you routinely perform.
Step two. Better provide the range of numbers within which you agree to negotiate than settle for a single sum. Or name a figure slightly higher above your expectations and ‘give in’ during the talks, if necessary. It is a predictable trick and your manager suspects you will use it, but it is a useful trick in any negotiations.
Step three. As CMA trainings regularly explain to their participants, carefully evaluate the current position and success level of your company to know if you can actually get this raise. If the things go well and the bottom line grows, it is OK to tackle the topic. If the company cuts the costs and lays-off a number of employees, it is not. You may actually want to start looking for another job as well. Take into consideration the location, the size, and the competitive position on the list. A company in the big city may have a wage scale rate different from that of a small company in a rural town.
Step four. Otherwise, you may want to talk to your manager about how you can help the company and apply your skills or creativity to improve its position on the market somehow. It may not bring you the immediate raise, but it will impress the manager and show how indispensable you are in this company. And it may ensure you a raise once the company strengthens its footing and returns to getting decent revenues.
Negotiation Skills You Need To Apply
Now you sit across the table and the manager watches you wearily, act confidently but graciously. What does that mean?
- Start with telling that you appreciate the company and contribute significantly.
- List your accomplishments briefly.
- Say that you enjoy working at this place, but would like to have a higher compensation for what you do. (You may swap steps 2 and 3).
- Name your desired salary (remember about setting the brackets).
- Remember to include benefits into the annual net salary.
- Be confident and gracious. That is, be firm in your presentation but accept any outcome with dignity and thankfulness.
- If you get the offer you need to think through, say so. Ask for a day to consider it.
Anyway, give it a try and see where these negotiations will take you. If you doubt you have negotiation abilities at all, take the dedicated CMA trainings and learn to approach professionally this task as well as any other important talks. It will be a good investment of time and efforts!