There are many ways to prepare for a salary negotiation and different approaches, where the result depends as much on your preparation as the employer’s willingness to negotiate the salary. The question is just which way leads to a pay rise.
1. Preparation is Key
Regardless of the reason for the pay negotiation, you must always be well prepared for the meeting. Be aware of how much you want in salary for the job you perform or must perform – it is especially relevant to know when you are going to a job interview.
There are several factors that help determine where you land in the payroll. The recruiter or your immediate manager also comes into the meeting with an estimate salary. The way to negotiate is a minor “mind-game” where you start high and then calmly and surely hit a number that both parties are happy with.
Though it is not a good idea to start the negotiation with an amount that is incredibly high and completely out of the employer’s reach. It can, if it goes completely wrong, end up with both parties leaving the meeting with a negative impression of each other – which must be avoided.
2. Compare salaries for your position
If you do not have much knowledge about your expected salary, you can research what others in the same position earn. There are so many resources available online to find the average monthly Package for a given position based on seniority, geography, and other parameters – you can find statistics on everything from software developers to key account managers. Once you have an overview, you can put your work tasks and results in comparison and in the end, you will have an idea what salary you can expect.
3. Get an overview of your results
Now we mention results again, because in the end the results are the ones you are measured on. It is very important that you are aware of your results in your previous or current company since this is your selling points. You must clarify what value you have added to the company over the last year, and it makes you significantly stronger during the salary negotiations.
4. Talk about salary with colleagues
It is still a controversial and sore point when the theme falls on salary in companies. Some people might say that it is allowed while others will say it is forbidden. But it is always a good idea to get an understanding and an overview by talking internally with colleagues or externally across organizations about salary conditions. The knowledge you gather can ultimately help you get a good salary than you had expected.