Salary Negotiation.
6 tips for salary negotiation. Because we should absolutely start 2023 making sure we get paid what we deserve at work!
Whether you feel like you need more compensation in your current role, or you are wanting to negotiate your salary in a new job, here are 6 things to consider when you negotiate your salary.
1. Do your homework. Make sure you know the typical compensation for your experience and industry before you move forward.
2. Have a specific number in mind. Know what salary or % increase you want. In addition to salary, think about other benefits: bonus, vacation, work location or hour flexibility. Think of exactly what you want before you go in for the ask.
3. Build your case and get ready to sell yourself! Why do you deserve the raise or higher starting salary? Get ready to prove it with examples and specifics. Describe your accomplishments and contributions. Best if you can give customer or stakeholder feedback on how awesome you are to drive home the point
4. Practice, practice, practice. In the mirror, while driving to work or walking the dog, or grab a partner to role play. Think about the intro to the discussion, the specific ask, and how you may respond depending on their answer. Be ready for as much as possible.
5. Timing matters. I've seen a few studies that show Thursday is the best time of week to ask for a raise. Promotions sometimes happen in cycles at companies, and knowing when those are done is helpful. Also think about the schedule of the person you are asking - don't do it when they are slammed with other things.
6. Go for it. Wayne Gretzky said you miss 100% of the shots you don't take. ASK. The worst thing that happens is staying at the same salary. The best is that you get a raise. Doesn't seem like much of a risk?
Let me know if you have used these tips or plan to.
