Have you ever let an opportunity for a compensation increase with your promotion pass you by?
Perhaps you were afraid you might look ungrateful or were so happy to be recognized that you didn’t think about it at the moment, or maybe you didn’t know how to approach the negotiation.
Negotiating the salary you deserve can feel tricky, but with a few tips and tricks, you can be confident and successful in the end.
Let’s get to it.
But first, congratulations on your promotion!
Before we proceed with the tips, remember that when negotiating, the only failure would be not negotiating at all because eighty percent of managers give increases expecting them to be negotiated.
Here’s how you can take to confidently and effectively negotiate your salary despite the seven obstacles that stop us from negotiating.
If you’re given a promotion but not an increase
First, you must ask your boss about their intention because a promotion means not only a new title but also a more advanced workload and typically more responsibility, making it important to research and know the market rate for the position. This knowledge will help you accurately present your value and better negotiate your salary.
Researching the current market value for your position will also help you assess your skills and capacity and, with this information, make a fair decision about how much raise you need to ask.
You got a raise, but it’s not everything you wanted
In such situations, your first step would be to ask your manager the big question. However, before directly asking for it, remember to express gratitude for the promotion and the salary.
increase before letting them know that the given raise is below your expectation. “Thank you for the promotion and the increase. I’m excited about the opportunity. Is this offer negotiable?”
They will say, “yes,” “no,” or “what are you looking for?”
It’s best to know what you want, but if you are unsure what to ask for or don’t want to leave anything on the table, you can simply say your ideal compensation. If they say they can’t do that amount, you can respond with, “how high can you go?”
This will allow you to get the maximum compensation they are willing to offer.
You actually got a huge raise
You just got a substantial raise and a promotion, so understandably, you may feel like you do not need to negotiate. Plus, you might feel overwhelmed with joy about the promotion – because who wouldn’t?
However, it is still important to consider whether the offer is negotiable. Every single opportunity is a chance. Most times, we’re afraid we will damage relationships just by asking. But we won’t.
If you receive a significant raise, you’ll want a genuinely enthusiastic response. “Wow, this is a great increase. Thank you so much.”
Then you can still proceed to ask, “Is this negotiable?”
It’s important to know what you want. This could be based on the market, or you could simply round in to the next even number. For example, if you get $27,000 you could say, “Could we do $30,000? I like round numbers.”
While that might sound silly, it’s a simple reason, and you will likely get the increase. The key is to remain positive about the increase and opportunity you’ve been given.
Remember that salary negotiation is part of being an employee. They may say no, but trying is better than not doing anything, and believe me, they will not rescind the promotion. It was given to you because you are the perfect person for the job.
Though it may seem intimidating at first, negotiating your salary can be empowering and lead to a better outcome for you and the company. Remember, you are great at what you do, hence the promotion. So a little negotiation will not do any harm. Just be confident and reasonable, and back up your points with logical arguments.
With the tips listed above, I’m sure the negotiation would be easier. Good luck!