Negotiating Your Salary

Negotiating Your Salary

November 27, 2023

Whether you are a recent college graduate or a long-time employee, it can be hard to know the best way to approach negotiating your salary. While asking for a pay increase may be difficult, it is important to face this fear and ask for what you believe you reasonably should be paid. Lets get into a few tips!

First, determine what your needs are. Outside of wanting a pay increase do you want more paid time off, health insurance, or more/or fewer hours? Does the employer cover your health insurance, do you get paid time off, is there a retirement plan? Those elements will affect your overall income and should also be a consideration when negotiating your salary.

Go into the meeting prepared to show your worth. If you are asking for a raise, be ready to show what you have accomplished at the company since your salary increase. Show your track record and make it known that you are a valuable asset to doing business. 

Be specific with what you want. If it’s more money, have a number in mind. If it’s days off, how many? Want more work hours? When will you be available to work these hours? Being specific here is important to starting any negotiation, especially if you're nervous about negotiating your salary. Working with concrete numbers will keep you focused on what you want or need from this negotiation. 

Finally, dont get discouraged if you dont immediately hear a yes. At some companies, your manager may have to discuss it with their boss before signing onto a pay increase. If you do get a no, ask what they would need to see for you to receive a pay increase. Come up with a plan together to give you both what is needed for a raise. Then set a time for you to reevaluate your salary in a few months. 

Conclusion

Knowing how to negotiate your salary is important for your financial success. While it may seem like a hard conversation to have, dont let that stop you from asking for what you believe you deserve. 



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