Negotiating a pay rise can be nerve wrecking, but with the right prep and mindset, you can increase your chances of success. Here are some tips to help you out:
1. Market research:
Look at the average salary for your position in your industry and location. This will give you a benchmark figure to work with when discussing your salary with your employer.
Sites to help you find this out Payscale, Glassdoor
2. Be confident:
It's important to approach the conversation with confidence. Express your interest in the company and your desire to continue working there, but also make it clear that you believe you are worth more than your current salary. It’s also important to make sure that you are not coming off as arrogant.
3. Identify your strengths:
Evaluate your skills, experience, and accomplishments, and list down what you have contributed to the company's success. Be prepared to discuss specific examples of how you have added value to the organization. It would be helpful to write this down as looking at all of your capabilities will also boost your confidence going into this meeting.
4. Be prepared to compromise:
Negotiating a pay rise is a two-way conversation, and you may need to compromise in order to reach an agreement. Be open to alternative forms of compensation, such as additional benefits or flexible working arrangements.
5. Follow up:
After the initial discussion, follow up with your employer to ensure that they are aware of your continuing interest in a pay rise. If they are not able to offer one at this time, ask for feedback on what you need to do to be considered for a future pay rise.
Remember, a pay rise is not just about the money, it's also about your professional growth and development. So, be prepared to negotiate for opportunities that will help you advance in your career.