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How Do You Negotiate a Pay Rise?

How-Do-You-Negotiate-a-Pay-Rise

 

You’ve been working at a job you love for years, and feel like you’ve earned an advancement. Whether you’re taking on new responsibilities or simply feel like you’ve proven your value to the company, it’s time for you get the paycheck you deserve. Asking for a bump in pay grade can be a tricky subject. You want to make a good case for yourself without appearing too aggressive. So how do you go about it?

Before the Meeting

Get organized. Research what the market pays for similar jobs, or what the company has offered to others in your position in the past. Don’t forget to account for inflation.

Before scheduling the meeting, look up your company’s policies on raises and pay negotiations. Make sure you follow their guidelines and turn in any necessary paperwork. This is especially important for larger, more formal companies.

Start with a clear idea of what you’re looking for. This may include:

  • a set monetary increase
  • an annual percentage increase
  • other benefits such as increased vacation time or personal time off
  • paid vacations
  • better shifts

When you can prove you’re a vital asset to the company, your negotiation will go more smoothly. Collect hard evidence of your successes and achievements and how they have benefited your employer. Consider including:

  • sales figures
  • concrete examples of your contributions to vital projects
  • overtime worked to get tasks done by important deadlines
  • a good word vouching for you from your manager

Make sure the timing is right. Schedule the pay rise negotiation right after a major accomplishment or project success. That way your value to the company will be clear.

One powerful negotiating tool, which might backfire on you, is to walk into the meeting with an offer from another company. You can explain to your current employer the terms and pay rate that the other company has proposed. If you suggest that you’d like to stay where you are, they may match that competing offer or otherwise improve on your current work situation.

After the Meeting

Be prepared to hear a ‘no’. Have a professional response prepared if your request is turned down. If your supervisor has any concerns, have answers prepared. You can also collaborate on a plan to re-evaluate your wage situation in three to six months. This plan should include benchmarks and clear objectives that you can achieve in the interim. If you develop skills that are badly needed by the company, you will have a stronger position during the next round of pay rise negotiations.

What happens if you reach an impasse in negotiations? First, assess how much you want to remain working with the company. Secondly, balance that against your skills and experience you have and the prospects in the current job market. One employer may not appreciate your contributions to the company, but another may.

Find the Right Job Through a Staffing Agency

Are you looking for an easier way to get an exciting job with great pay and benefits? Consider looking for employment through a staffing agency like Ad-VANCE Talent Solutions. For over 20 years, Ad-VANCE has helped employment seekers along the Gulf Coast get placed at temporary or temp-to-hire job positions that match their skills and interests. Postings from a variety of industries are available, and Ad-VANCE will help you with the hiring process. Are you ready for your next big career move? Contact us to get started today.

 

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