Everyone faces challenges in their daily careers, from completing that major project to landing a coveted promotion.
One challenge in particular affects everyone: asking for a pay raise. Salaries are often low when employees begin a particular position, but people who excel are likely to ask for more compensation as they mature in the same department or role. It's possible to successfully ask for an increase if employees take a few strategic moves both before and during the negotiation process.
Understand Your Industry
The first step to asking for a raise is understanding your specific industry. For example, engineers in aerospace might be paid more than the same professionals working for a construction company. Make sure you research your industry and pay rates. Salary.com and GlassDoor.com are helpful tools. Additionally, your geographic location dictates salary constraints as well. Some raises may not even be possible in more rural areas where pay is lower, whereas companies located in urban areas usually have more salary flexibility with their employees.
An increase in salary rarely occurs if you aren’t working at a standard that is above and beyond the expectations set forth by your manager/supervisor. Before setting a meeting with a supervisor, make sure you conduct a self-evaluation of your work. Be sure to list your contributions throughout the past year (and beyond) so you can decide whether you feel you qualify for a raise. If you believe you do, you will be that much more convincing when you discuss an increase with your boss.
There must be a clear set of reasons for a supervisor to offer more money to an employee.
Timing is Everything
Employees who deserve salary increases are well-aware of their industry's strength in the marketplace. If the company is going through a tough financial period, for example, asking for a wage increase is a poor strategy and could be a negative mark against you. It's important to wait for the right moment and make that strategic salary meeting a success. If you are a key contributor to a major revenue-building project, then that's the right time to ask for more money.
Keep it Positive
Fight the urge to lay it all out on the table during your discussion. You might be frustrated with your situation, but remember, to always keep the discussion positive. Only offer positive comments during these negotiations. The conversation can't revolve around what you deserve, or what you think you should have gotten by now. Highlight what you can and already do offer your employer. A better salary often motivates employees to work even harder than before. Explain this to them in an upbeat and tactful way.
Be Ready for the Word "No"
Even if a stellar employee has a perfect track record the word "no" could still be a possibility. You must be prepared to hear a negative response, so that you’re mentally prepared for a letdown and therefore do not appear emotional during the meeting. Remember your employer may not be able to fund a higher salary right now. Either way, you should remain professional and refrain from negative remarks both during and after the failed salary meeting.
If you want to have the best meeting with their supervisor, you might want to try role playing as a way to prepare. Ask a friend to pose as your supervisor in a mock meeting over the weekend. This meeting should be as serious as possible, so that you gain a sense of confidence and relaxation before the real meeting. The final result could be more money and a happier work life.
Certain companies simply can't pay more because of the limited tasks involved in a specific role. When you can't excel any further in a particular position, it's time to explore other career routes. Returning to school and earning a degree, for example, is an intelligent way to move ahead in the company because now you have a substantial educational background for an increased salary.Perseverance is often a personal attribute that helps people become more successful with a combination of negotiation skills, experience and education.
For more information about Infinity Consulting Solutions and open positions, visit http://www.infinity-cs.com/.