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.
Certainly, anyone can negotiate a pay increase at any time in their career. I often recommend people start considering how they would approach their employers for their pay increase.
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.
Consider taking these steps before you ask your boss for a pay raise.
1) Research and have confidence in your value in the job market. Make sure you have multiple sources for this information. Many salary sites are based on anonymous reports by unqualified individuals. Surveys conducted by market research firms are far more reliable when they go to the HR sources in the region.
2) Know your value in terms of the contribution you add to the business. Also be aware of value adds you do in terms of saving company costs, delivering projects on time, and delivering quality in your work.
3) You will need to discuss with the boss that you know the salary range for the current market. Be prepared with facts, and also prepared to approach this conversation with tactfulness.
4) Having done your research and having an intuition for where your performance falls within the percentile range, you will need to have a conversation with your boss and agree on the level you are performing at.
There are so many facets to salary negotiation. You should be prepared to do your research and know your facts. I highly recommend learning more about the art of salary negotiating and turn your career into high gear.
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.
Either way one strategy that helps in negotiation is to have another job offer in hand. With that in your back pocket you will have more leverage with you salary negotiation.
Certainly, anyone can negotiate a pay increase at any time in their career. I often recommend people start considering how they would approach their employers for their pay increase.
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.
Consider taking these steps before you ask your boss for a pay raise.
1) Research and have confidence in your value in the job market. Make sure you have multiple sources for this information. Many salary sites are based on anonymous reports by unqualified individuals. Surveys conducted by market research firms are far more reliable when they go to the HR sources in the region.
2) Know your value in terms of the contribution you add to the business. Also be aware of value adds you do in terms of saving company costs, delivering projects on time, and delivering quality in your work.
3) You will need to discuss with the boss that you know the salary range for the current market. Be prepared with facts, and also prepared to approach this conversation with tactfulness.
4) Having done your research and having an intuition for where your performance falls within the percentile range, you will need to have a conversation with your boss and agree on the level you are performing at.
There are so many facets to salary negotiation. You should be prepared to do your research and know your facts. I highly recommend learning more about the art of salary negotiating and turn your career into high gear.
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.
Either way one strategy that helps in negotiation is to have another job offer in hand. With that in your back pocket you will have more leverage with you salary negotiation.
About the Author:
Trevor Davide Grant is a project manager in the IT field and has extensive experience in salary negotiation. Trevor has worked for global telecom, power utililties, software development consulting, and a prominent web 2.0 site. He has learned how to negotiate a salary in the most powerfulway. Learn great tacticson the topic of negotiating salary at www.HowToNegotiateASalary.com.
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