Last week, we discussed how to discuss the subject of a raise with your boss. In today’s economy, many workers might feel undervalued or underpaid in their current job but say nothing for fear of losing their position. As recruiters, we believe a little bit of negotiation can go a long way in the workplace. However, asking for a raise or negotiating your new pay is more of an art form than a demand. To help prepare you for the next time you’re negotiating for better pay or benefits, remember these tips.
- Don’t be afraid to talk to company veterans. Experienced employees from your company can be one of the best resources before talking to your boss about a raise. If they’ve been with the company for a few decades, chances are they know a lot about the company and can give you some valuable insight into the standard protocol for raises. Don’t go into the negotiation blindly – make sure you know a thing or two about how your boss (and the company) has responded in the past.
- Ask for the “intangibles.” While your first goal in a negotiation might be a salary increase, some companies might not have this in their budget. If this is the case, go for the “intangibles” like more vacation time or flexible hours. These are benefits that can make your employment more enjoyable and may take less negotiating.
- Leave the door open for discussion. If a raise just isn’t in the cards at this time, be sure to leave the door open for this discussion later in the year. Not all raises come at the end of the year, so ask your boss if this is a topic you can revisit at the end of the quarter. There’s no need to wait until December to discuss your salary.
For many of the employees and candidates we work with, salary negotiation is something they have had to tackle before. Negotiation tactics vary by employee and company, but by remembering these basics, you can go into your next negotiation with much more confidence.