The main reason for having a job is to be able to provide for you and your family. This happens thanks to your salary. A lot of people get a certain salary when starting out with the idea that things will get better with time. Unfortunately even a few years down the road your paycheck still shows the same number. It is time to sit down and negoatiate a better salary.
Make a list of what you are doing and how you are contributing
With time spent in the company and experience gained you start getting more responsibility. Sit down and make a list. Put down all the things you have on your plate. Start with the ones that were added after you started and prioritize on those who are more important for the company.
Make a habbit of also writing down all successful projects and ideas you have. Those are the contributions you make for the company and they are the ones who give you that extra value you need when the negotiations start.
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Determine the right time to approach your manager
Most companies have one or two yearly meetings to discuss performance and give feedback. These times should be perfect to open the “favorite” topic of every employeer. But if there are no such meetings planned you have to carefully chose the right moment.
Never do this on Mondays and Fridays. People are more stressed before and after a weekend. Best days of the week would be Wednesday and Thursday. Also keep in mind what is happening in the company. If you are in the middle of a big project, planning a budget or having an audit then you know it is not the right time. Pay attention to how your company system works. Management has sit downs to talk about people and performance. If one such meeting is coming then this would be the perfect time to negotiate.
Stay calm and confident
The modern workplace created a culture where talking about salary makes you uncomfortable. It should not be that way. Remember that your work has value and that is what you are trading here. Don’t feel pressure to talk with your manager about your salary. Be direct and open.
A great article shared by Betsy Mikel at inc.com talks about how to How to Negotiate a Better Salary in Just 2 Simple Sentences. Kelly Coffey contributed a lot to JPMorgan Chase & Co.’s during her time there. She determined that she wants to get a better salary. The approach taken is brilliant. She said:
I would like to make $X. What would it take for me to get there?
There is a great chance this approach will help you succeed if you had taken your time to determine your value and stayed realistic. This shows your employer that you have an adequate view on the work and how much your efforts cost. It also expresses willingness to not only want but to be ready to give. It is also phrased in a way which leaves your employeer with the feeling that he needs to give you somewhat a positive answer.
When trying to negotiate a better salary try to keep an open mind. There will be times where you will not get what you want right away. Decide for yourself if it is worth it to be patient and get the wanted increase in a few months. If your employer is still resistant then there is always to option to search for what you want somewhere else. But before doing so think hard on the pros and cons of changing a job only for a better paycheck.