A newsletter subscriber inquired whether or not it was possible to negotiate salary at a job your are already working at. After some investigating the local job market, they realized that they were quite underpaid and wanted to level set with their coworkers. Someone had advised them to quit their job and try to negotiate a higher salary elsewhere.
Salary negotiation is not just reserved for new recruits. Anyone can negotiate their salary by asking for a raise. They must be well prepared with a deliberately planned strategy and a well developed supporting case to persuade the employer.
It may seem obvious, but if you have just recently taken on the job offer, or just recently received a raise then you should wait until some time has passed and you’ve proven yourself. It is very important to know your value before taking on any job.
Salary is not the only means of increasing your compensation package. You can also consider things like extra vacation, time off in lieu of overtime worked, and stock options as extra ways to add value to your compensation, and make it more easy for the employer to accept.
Prior to asking for a pay increase you should do make sure to take a number of steps.
1) Know the value of your skills in your area. Research multiple sources for salary data, and be aware that surveys conducted by HR will be more reliable than those that are self-reported by employees.
2) Your value-add is a very powerful salary negotiation tool. You should be aware of all the ways you add value to the business and prepare to communicate it effectively to the boss.
3) Prepare yourself to discuss this with the boss, and mention that you would like an increase to be in line with the current job market salary range.
4) Explain to the boss where you feels you fit within that range in terms of a percentile basis. Are you a top performer with lots of experience? Can you command a top percentile salary?
There are many factors to consider. I recommend doing a lot of research. One thing is for sure, you will not likely get the raise as quickly or necessarily as much as you were hoping for without mastering your skills in salary negotiation.
My preference would be to negotiate salary in a job that I was happy with rather than go through the effort of finding a new job in hopes of a higher salary.
One tactic that can give you an upper hand is to first get yourself another job offer. With that as your back up measure, you will have more leverage in negotiating salary.
Trevor Davide Grant is a project manager in the IT field and has extensive experience in salary negotiation. Trevor has worked for global telecom, electric utilities, software consulting, and a prominent web 2.0 site. He has learned salary negotiating in the most effective way. Learn great tips on the topic of negotiating salary at www.HowToNegotiateASalary.com.
