By Gina Ragusa
Don't let nerves prevent you from landing a higher salary at work. If you believe your hard work should be monetarily recognized, approach salary negotiation as you would any other work related task, methodically and with confidence. Conduct research, determine what actions are raise-worthy and muster the courage to meet with your boss to discuss a salary increase. Always enter and end the meeting on a positive note and leave emotions at the door to have a logical discussion.
Difficulty: Moderately Challenging
Instructions
- Learn your company's policies. Visit with the human resources director to discuss the corporate policy on raises and when they are given. Some companies only award cost of living increases, however other companies bestow raises based on merit too.During your meeting, ask how performance is evaluated and the maximum raise that can be given. Determine if raises are given on a cyclical basis and if so, do they revolve around your annual performance review.
- Conduct research on salary and job description industry standards. Compare the salary you receive for your job description vs. what is being paid to employees of similar jobs at companies across the country. Compare companies with similar asset sizes and geographic backgrounds to create an accurate comparative analysis. For example, companies in New York City may pay more for the same job being done in Davie, Florida.Review your job description to determine if you've added more responsibilities to your duties. It's easier to present a case for a salary increase if you've been given extra tasks.Create a list of new tasks and describe each task in detail. For example, if you are now in charge of generating a customer newsletter, describe the number of hours it takes to create and execute.
- Create a presentation backed by facts and figures to present during a meeting with your manager. Use your research to generate a short five- or 10-minute PowerPoint presentation that include points such as new job responsibilities, salary comparisons and points regarding how a salary increase will benefit the company in the long run.
- Memorize the presentation and practice presenting the material in front of a mirror or with a friend. Ask your friend to role play with you so you are prepared for questions or answers that you may not be anticipating.
- Schedule an appointment with your manager to discuss a salary increase. Be candid about your intentions so your manager is not caught off guard when you present your case. Some managers react negatively when surprised with a salary increase conversation so level the playing field by letting her know up front.
- Enter the meeting with your manager with a smile and a handshake. Remember, your manager is your ally and wants to see you succeed. If the manager says he can't increase your salary after hearing your presentation, inquire about bonus compensation for your additional work or success.
If all else fails, ask your manager what you can do in the future to increase your salary. State your intention to grow and develop with the company so your manager knows you are serious about using your talents to further the company's growth and not only lining your pockets with additional money.
