Money Matters: 5 Tips to Effectively Negotiate a Salary Increase
Negotiating for a salary raise has put more than a few stomachs into knots over the years. Sure, it can be extremely nerve-wracking but keep in mind that it’s a key to keeping you motivated to work and to fully understand your worth in the company. With that mind, we’ve listed down some simple negotiation tips for when it’s your turn to ask for a sweeter deal.
- Be Persuasive Enough
Forcing your boss to increase your salary can be difficult and trying to do so could potentially damage your supposedly good working relationship. So instead of just barging in his office to ask for a raise, think about a plan of how you could possibly convince him to approve your request – for instance, how it might turn out to be beneficial for the company to pay you more.
- Start Your Discussion With the Right Tone
An effective way to negotiate a raise is to start your discussing using the right tone. You’d want to let your boss know that you will listen and understand his views about your concern. At the same time, you also expect your boss to do same for you. Doing this will allow both you and your boss to work together to address this issue. As much as possible, avoid imposing ultimatums, saying threats or showing coercive behaviour as it won’t help in your negotiations.
- Think About Other Compensations Available
Despite your best efforts, there might be times where your company just can’t pay you more. You probably hit a salary cap for your level or the company might be cash strapped and are not offering any raises. During those situations, be prepared to negotiate for more than money. What other compensations would be meaningful for you? A flexible work schedule, more vacation time or days where you can just work from home? Know what you want to ask for if a salary increase is no longer an option.
- Respect the Silent Moments
Whenever you’re having conversations about money, expect that there will always be awkward and uncomfortable silences in between. But instead of filling those silent moments, learn to embrace them. Once you’re done stating what you want, give your boss a chance to collect his thoughts and respond to your request.
- Keep Your Negotiations on a Professional Level
It’s quite easy to get all emotional when you’re talking about money and your performance, but ensure that you keep your conversation with your boss on a professional level. Stick to facts and not on your emotions to ensure that your negotiation won’t get too personal – and you won’t burn bridges that can never be repaired.
Negotiating for a salary raise can really give anybody an anxious feeling, but putting these tips to work will surely help you in calming your nerves and in asking for sweet salary deal.