Successfully negotiating a raise is as much an art as it is a science, and a key career skill that will stay with you throughout your life. Here are our salary negotiation techniques to get that raise you know you deserve.
Time it right
Timing is everything. Asking for a raise can be disruptive for employers, so pick the right time to increase your success rate. If business is good or you’re still riding on the success of a good performance review or landing a new client, you’re more likely to start the conversation to an amenable audience.
Preparation is key
Preparation and a clear understanding of your company’s performance, culture and market conditions are vital for the nerve-wracking process of negotiating your raise. A clear understanding of your company’s and your boss’ needs will also hold you in good stead.
Know what you want and ask for it
You stand a better chance of getting exactly what you want if you ask for it. Get informed on what your position is worth so you know how far you can push the boundaries. No one is ever going to offer you more than you’re willing to ask for.
And know what you’re worth
Negotiating a pay rise is essentially about your value. Talk to people you trust and in similar positions, so that you’re comfortable asking how much they currently get paid, to get an idea of your worth.
Control your narrative
Build up goodwill to your perceived value by keeping track of your successes, positive feedback from clients and other constructive contributions you’ve made outside your role for the good of the company. Know how to pitch yourself and back it up with evidence.
The power of silence
Less is always more when negotiating so don’t be tempted to accept the first offer too early. It’s all about pacing the conversation, staying in control and giving yourself time to think about your next move. It’s fair enough for you to take your time to think over the final offer.
Tie it up
If you get an offer that’s not what you wanted, you can easily say it’s close enough, or it isn’t close enough and leaves the door open for another conversation.
Whether you get what you want or not, you need to close the discussion. Do so by thanking them for their offer and time. The next move is yours; whether you choose to stay, leave or try again in a year, the ball is now in your court.
Unsure of what to do? Contact Ceek for career advice, our recruiters are always here to help!