Most people aren’t confident enough to ask for a higher salary from their employer. The thought of renegotiating salaries is often intimidating, and most people aren’t willing to take the risk and ask for a raise.
Candidates who have received a job offer may feel that the salary is reasonable, and they worry that asking for a higher salary might result in contract redaction. Existing employees worry about being dismissed for asking their employer to make extra money.
Because of these worries, most employees never attempt a salary renegotiation. Despite being highly skilled and competent in their roles, they remain on the same salary for years.
If you have specialized skills and extensive experience in your role, it might be worth asking for a raise. Understandably, this is a scary thing to do, but it’s worth raising the question with your employer.
Whether you’re starting a new job or you’re an existing employee in a company, here are some top tips for negotiating higher pay in your job. If you need further advice, consider getting Labor and Industries legal help.
Research Industry Salaries
When you enter a salary renegotiation, it’s important to know what the average salary is for your unique role within the industry. This may vary slightly based on your location, so try and find numbers specific to your geographical area.
Take a look at which skills are in high demand and whether you have particularly important or unique skills that are imperative to your role. If you have lots of skills and experience, you’ll be able to negotiate a higher salary because your employer will struggle to find somebody else with the same level of competency.
Be Honest and Open
When you approach your employer for salary renegotiation, it’s always best to be transparent about things. Be open about why you want a raise and why you feel that you deserve a higher salary.
Employers value honesty, and they are likely to consider your offer if you approach them sincerely. Make sure to explain how you have come to the salary that you are presenting so that they can see how detailed your research has been.
Consider Perks and Benefits
Salaries can often change with perks and benefits. Some employers will prefer to renegotiate your annual pay over providing extra benefits or flexible working.
Consider which perks and benefits are the most valuable to you and how you can make the most attractive and appropriate offer to your employer. Take into consideration health insurance discounts, wellness initiatives, and retirement savings plans.
Practice What to Say
It’s a good idea to practice what you’re going to say before you approach your employer. A strong delivery will increase your chances of a successful offer.
Think about how you’re going to present your offer and what salary you’re happy to accept if your employer tries to negotiate. Run through your delivery at least three times before the meeting, and you’ll be good to go.