Editor’s note: Sign up for CNN’s Adulthood, But Better newsletter series. Our seven-part guide contains tips to help you make more informed decisions about personal finances, career, wellness and personal connections..
Getting what you’re worth is an important part of any job, but negotiating a raise can be both stressful and uncomfortable.
If you think you should be compensated better, it’s up to you to make a convincing argument for it. Proper research can help you go into the conversation prepared, which will improve your chances of presenting a strong case to your manager.
Before you start a raise conversation, think about the big picture and what’s going on in your workplace.
When a company is in financial trouble or in the midst of a major transition, it’s probably not the right time to ask for a raise. If your boss is dealing with things like layoffs, restructuring, or an outside investigation into a company scandal, you may want to wait until things settle down a bit.
“Maybe it’s a time where you empathize with him, build a little bit of a cushion of trust,” says Salarycoaching.com founder Olivia Zaras. “This could set the stage for negotiations in a few months, which could be more auspicious for you.”
Whether or not you get a raise will be determined by several factors. Some will be out of your control, but your chances will be better if you do your research.
Before getting into the conversation about raising, you should keep your finger on the pulse of market value. Find out how your current salary compares to your market value, how you’re performing compared to your peers, and what your company’s compensation philosophy is.
Like career sites glass door, Salary.comor Pay structure A good starting point is salary data for positions like yours.
Reviewing your resume and looking at the position description you were hired for can give you an overview of your job performance and career development. Your responsibilities may have increased since the day you were hired, or you may have received training or acquired other skills.
“If you acquire skills and qualifications that are meaningful to your position, how will they be valued by your company? They’re kind of a check mark for growth,” Zaras said.
Once you’re armed with all the information you need, you may think you’re set.
But now it’s time to take a look at your accomplishments from your manager’s perspective. Why might your boss say no to giving you a pay bump? And how do you address them?
Understanding where the other person is coming from and what their reservations might be will help you deal with them. One way to do this is to think about your manager’s top five reasons for saying no.
“If you think they have a really good reason for telling you no, you’re probably not going to get it,” says Deborah Kolb, author of Negotiating at Work: Turn Small Wins into Big Gains. “But when you anticipate what’s going to happen, you prepare to deal with it.”
Your argument should always be logical, so avoid getting too personal. Arguing that you have to put five kids through college or that you found out your co-worker makes more than you is not a good idea.
These things may cause you to want a raise, but they are not tied to your job performance.
It might get you a courtesy raise, but it’s probably not going to maximize what you can earn. What you should do is tell your boss about how you contributed to the company’s bottom line.
Negotiated salaries don’t always go as planned, and you should be prepared to handle an outcome you didn’t want. But getting a “no” doesn’t have to be a defeat, and handling it the right way can lay the foundation for a future growth.
You may be disappointed by bad news, but always end the conversation on a positive note. Reinforcing the impression that you are excited about continuing your service to the company and expanding your contributions can keep the door open for future dialogue.
“You have to be strategic about how you handle that conversation,” says Alex Twarsky, co-founder of Resume Daily, a resume and career services company. “You can’t be too demanding or too pushy. You want to be professional, patient, cooperative and constructive.”
This can also be an opportunity for you to ask for feedback, and think about what skills you can improve to make a stronger case for a pay bump.
Where we collect the information from Source link
Disclaimer:- We include in each post a link to where each content on our website is collected from.If there is a complaint against any post please contact us directly.
Email: post-support.dailyfastnews24.com
You can also write on the popular online news portal dailyfastnews24.com. Writing topics feature, travel, lifestyle, career, IT, agriculture and nature. Send your entry today to [email protected]
advertisement:-If you would like to advertise on our website please contact us here.Our Ads team will contact you very soon.
Email: [email protected]
The cost of advertising:- 1 Post 100 USD Lifetime.
Thank you very much for visiting our website. Have a good day.