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Tips For Negotiating A Salary Increase

Once you’ve read our guide why not take a look at our email template which helps you ask for a pay rise?

Our recent look at which jobs have seen the biggest salary increases over the past 10 years shows that over time there can be dramatic shifts in the value of certain skills. But you shouldn’t just assume that your employer will hand out salary increases in line with your rising market value – sometimes you need to ask for it.

Not sure whether you’re due a pay rise? An easy way to find out is to upload your CV to ValueMyCV and get an estimate of what your skills are currently worth on the job market – just remember to update it first! You” find more tips in the infographic below. Looking for negotiation tips for a completely new job? We’ve got a guide for negotiating a higher starting salary too.

Having trouble reading the infographic? Scroll to the bottom of the page to read the text version.

negotiating-a-pay-rise

 

Navigating Your Way To A Salary Raise

Salary negotiations can be a lot like a game. Use this guide to make sure you get a high score.

Timing

When Should I Ask For A Raise?

Good Reasons:

  • You’re consistently over-performing
  • Your job description has changed
  • You’re underpaid

Bad Reasons:

  • You’ve been there an arbitrary amount of time
  • You need more money

 

Even if you’re in a good position to ask for a raise, pick your moment carefully.
Consider when budgets are set and if your company is celebrating a recent success or facing financial challenges.

Preparing

Know your market value

What are similar positions at other companies paying? What are your skills worth? Online tools make this easier than ever.

Gather evidence of your success

Get hard numbers that show the difference you’ve made: how you have increased revenue, made efficiencies, or improved customer satisfaction for example.

Be ready to show your future value

Don’t live on past glories. Show you can offer more value to your company in the future, by talking about new responsibilities you can own and the skills you will develop.

Before the meeting

Coffee – Skip coffee, which has high amounts of anxiety-inducing caffeine – “negotiators who feel anxious … ultimately obtain worse outcomes”.

Power Poses – Power Poses won’t make you feel any worse – so what’s the harm in trying? You might even benefit from a lovely placebo effect.

Oct. ’12 – TED Talk makes Power Poses study famous.
Sep ’16 – Study co-author claims research was fatally flawed.

Negotiating

The Three Salary Negotiation Myths

Don’t get emotional

 

Why: Getting emotional distracts you from the task at hand, and is a sign of weakness.

Actually: Changing your emotional state can make the other negotiator feel like they have less control, resulting in them making more concessions, according to research.

Don’t make the first offer

Why: Your employer might have been planning to offer more.

Actually: Employees who make low offers don’t know f their market value. If your employer makes a low first offer this will act as the anchor, and you might find it difficult to negotiate back up.

Don’t make personal pleas

Why: Your boss doesn’t care; you should show you deserve a pay rise.

Actually: Studies have shown ‘low-power negotiators’ can achieve better outcomes if they are able to elicit sympathy in the other negotiator.

Never Make threats or ultimatums

Always Focus on how you can serve the company and your boss’s interests

The Result

Success

Congratulations, you’ve earned it!

Didn’t get what you wanted?

  • Remain professional and don’t make any rash decisions.
  • Thank your manager for their time and ask what you would need to do to be successful in future.
  • If you don’t think you’re being paid a fair salary, consider looking for a new job.

Looking for more career advice? Check out our Career Tips section.