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Salary Negotiation Tips

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Negotiation Tips to Increase Your Salary

Do your employer continuously taking advantage of you? If you feel that you're constantly contributing good value to your company and not getting the pay that you deserve, then this maybe the right time to plan for a salary negotiation. Effective negotiation helps to resolve situation like this and find solutions that are acceptable to both parties.

Most people are uncomfortable discussing on the topic of package increase. This kind of feeling is very common as we are all having fear of being rejected or worry to upset someone during the negotiation. You’ll need to learn some negotiation tips to demand for the right package that you deserve. Here are some effective salary negotiation tips and tactics you can use to get a pay increase even if your company is under salary freeze.

Salary Negotiation Tips for Current Job

If you are currently employed and want a raise, gather your salary survey information, recent performance appraisals that document the job you're doing, and any other relevant information. Be aware of company policy regarding compensation. Some employers are limited by budget constraints and can only give raises at certain times of the year, regardless of the circumstances.

Determine the salary range you're looking for and justification for the increase in your salary. Write a letter to your boss to request for a meeting on salary increase. Never discuss you salary matter with the boss in an ad hoc manner such as after a meeting. If you want to get good result, write a formal letter to your boss by declaring your purpose and arrange suitable time for a discussion.

Present your request, supported by documentation, calmly and rationally. You need to put together and sell your special skills, accomplishments and contributions for your job objectives, and not to forget to emphasize your special achievements.

Get the boss to make the first offer to you before you tell him your target. He may offer more than what you expect by surprise. If you've done your homework well on the pay range, you can set your target slightly higher then the upper range. Explain and justify why you're an outstanding employee.

Be prepared to move on for a better job. If you can demonstrate to the employer that you are prepared to walk away should the negotiation fails, you have created tremendous pressure to make the employer compromises. Never show the employer that you are desperate for the job.

Salary Negotiation Tips for New Job

Before you start negotiating with a prospective employer, you need to find out how much the job worth. Know your market value. You also need to research salaries, so, you are prepared to get what you're worth and a job offer that's realistic and reasonable.

When interviewing for a new job, do your best not to bring up compensation until the employer makes you an offer. If you're asked what your salary requirements are, say that they are open based upon the position and the overall compensation package. Or tell the employer you'd like to know more about the responsibilities and the challenges of the job prior to discussing salary. Another option is to give the employer a salary range based upon the salary research you've done up front. Once you've received the offer you don't need to accept (or reject) it right away. A simple 'I need to think it over' can get you an increase in the original offer.

 Read Related Articles

Job Interview Questions and Answers
Employee Performance Appraisal
Negotiation Tips and Benefits
How to Write a Resume Cover Letter?

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