It is common among many people to hesitate to negotiate their salary. However, this mentality has an adverse effect because if you feel that you are underpaid, then you will think of switching jobs. Instead, it is better to develop the confidence to tell your boss about a salary raise. That way, you won’t have to go through the difficult journey of finding a new job, and your employer will also not lose a talent like you. If you are hesitating to tell your boss about a raise, then you must learn some scripts to help you communicate with your boss the right way. Here are some salary negotiation tips you can try.
Timing is Crucial
Not all company has a policy of reviewing salary every year. In that case, you will have to initiate the conversation about a salary raise yourself. You must choose the right time to ask your employer for a raise. You should consider the financial health of the company. If the company is going through a rough patch and cutting down expenses or laying off employees, then the timing is not right to ask for a raise. You can check the industry news or have a look at the company’s financial reports. If your boss is having a lot of work-related stress, then you should find a later time to ask for the raise. During this time, you should provide your helping hand so that your superior remembers your contribution when you ask for a raise later on.
If you have completed a major project or reached a milestone, then it’s time to request a salary increase. It is better to have this conversation with your boss 2 to 3 months prior to the end of the fiscal year, because at this time, the leaders will be planning the budget for next year. So, they can consider your salary raise within their plans. If you have a genuine offer from another company, then you can also negotiate your salary.
Raise Amount
One of the most important salary negotiation tips is that you must not ask for an absurd number. You should do some research and find out what other companies are paying for your position. You need to consider your years of experience, education, and special skills because the employer will take all these into account when giving you a raise. Generally, you can ask for a 5 to 15% raise in salary.
Schedule a Meeting
You should schedule a meeting with your boss and mention why you want to meet. This way, your boss can decide beforehand and give you a solid response. You can send an email requesting a meeting time.
Be Ready to Answer Queries
You will be asked several questions regarding your work and accomplishments during the meeting with your boss. So, be well prepared and write down your list of achievements and strengths in a notebook beforehand. If possible, get the right numbers, like the number of leads you brought or the number of projects you have successfully completed, to focus on your contribution to the company.
Prepare Your Pitch
You must avoid words like ‘think, might, or feel’ as these words will show that you are not confident enough. These are words of uncertainty. You must communicate with your manager in strong words that show confidence. Choose a number of compelling reasons for your salary increase; for example, ‘I exceed job expectations consistently’, ‘ I take a lot of responsibilities’, ‘ I’ve helped the company secure major projects’, and similar sentences. Your tone shouldn’t be authoritarian when you ask for a raise. Remember, it’s a request, so be polite. You should be prepared for a negative answer from your boss regarding your salary. However, you shouldn’t be disappointed. You can ask for other compensations like flexible hours or holidays.
The Exact Scripts You Can Follow
You can negotiate for a salary increase at different phases of your career, for instance, before accepting the job offer, after a year, or after receiving new job responsibilities. Each time, you must use the appropriate scripts to increase the chance of getting a pay raise. You must remember to start your pitch with gratitude always, and use a polite tone throughout. Here are some scripts that can guide you to a successful pay raise negotiation.
➡️ Before Accepting The Job Offer
“Thank you for giving me this offer. I’m very excited about joining your company. Based on research of comparable positions, I would be more comfortable if we could settle on $45,000 instead of the $40,000 offered. The figure better reflects my education and experience. However, I’m open to discussing alternative compensations and adjustments. I want to settle on a package that will work for both of us”.
This script shows that you are enthusiastic about joining the company. The adjustment you have asked for is not too much, and you are open to further negotiation.
➡️ Reviewing Salary After a Year
“Thank you for meeting with me today. I have been reflecting on my contributions to this company over the past year. I’ve achieved a number of milestones during the past year and helped in the growth of this company. I’ve researched current market rates for my position, and I believe that a salary adjustment of $X would align with my contributions to the company and the current market value. I look forward to delivering excellent results and exceeding your expectations through my hard work and sincerity for the years ahead. “
This is a good strategy as you have given the reality of the market and also your achievements. Asking for a 5 to 15% raise after solid market research will be difficult for your employers to deny, especially if they are happy with your achievements.
➡️ Requesting a Salary Raise After a Promotion
Today, ‘dry promotions’ are common; that is, promotions without any increase in salary. Your script for requesting a salary increase in this case should be similar to the following.
“I am grateful for providing me this opportunity to serve your company in a senior role. I’m delighted to take on the new responsibilities given to me with dedication. My additional duties will require extra effort and time. Based on my market research, similar positions in the industry offer salaries between $X and $Y. Therefore, I would request a salary raise to meet the present market value. If there are budget constraints at the moment, then we could discuss performance-based bonuses or other benefits. I appreciate thinking over my request.”
This strategy works as you are not forcing your employer to raise your salary. You are giving proper justification for your request by talking about the market value and your new role in the company. You are open to further discussion.
If your employer says ‘no’ to your salary raise request, then don’t end the conversation. Ask to clarify questions like why they think you are not eligible for a raise, what you must have to achieve to get one, and so on. If a cash salary increase isn’t possible, then you can ask for other compensations like a bonus, professional development opportunities, flexible work hours, health benefits, and others.
Final Words
Never apologize for asking for a salary raise. Also, don’t say that you need the raise because you are having personal difficulties, like your house rent has gone up, or your family’s medical expense has increased. Also, never compare yourself to your colleagues by saying, “ I do better work than he, but he still gets a higher salary.” Only focus on your performance and market data when negotiating salary. Salary negotiation matters today because it will have a great impact on your lifetime earnings. So, use these salary negotiation tips to get the salary raise that you truly deserve.
