While it is likely that you’ll get small pay rises at work, usually in line with inflation, to be paid fairly the truth is that you’ll likely need to negotiate your own salary.
It can be a nerve-wracking experience, but fear not: we’ve put together a guide on how to navigate salary negotiation so you can go into talks well-prepared and with confidence.
Know Your Worth
Knowing your worth in the market is a valuable starting point: by comparing your salary to the market average for your industry, experience and job role, you give yourself the best place to start when negotiating a pay rise. You can do this using a tool such as Sliips, where the personalised dashboard will show you how your salary currently weighs against others in your industry with your experience.
Know Your Numbers
By using a tool such as Sliips to understand your position in the market, you should be able to work out the pay rise figure you’d be happy to accept. Make sure you have that firmly in your mind when negotiating, so you know what is an acceptable pay rise for you. Always go in asking for more than you want (as you will probably be negotiated down) and have an exact figure in mind rather than a range – having a range automatically suggests you’re willing to concede from the start and will make it less likely to get the real figure you deserve.
Show Your Value
Often it will not be enough to just provide details of what you could be paid somewhere else – or even what other people are being paid in your company. Be prepared to go in with evidence of why you deserve being paid market average or above. It’s worth keeping track of the projects you have worked on, teams you have managed, the value you have added to work: having it all in one place means when it comes to negotiating a salary you can go in prepared instead of wasting time pulling evidence together at the last minute. Include specific examples of successful work that support your case, and if you have strong feedback or support from managers or teammates then consider that as well: it’s all about building a coherent, convincing picture of why you deserve a higher salary.
Sell with Confidence
Never forget you are your number one advocate! Believe in yourself and go into that meeting with conviction. You deserve to be paid fairly for the work you are doing. Talking about pay can still be a tricky topic, even when discussing it professionally with your manager. Have the confidence to present your facts and reasons calmly and without resorting to blame or guilt tactics.
Silence is Golden
Finally, one final thing to remember in uncomfortable negotiating situations: it’s human nature to fill the silence with words. The best negotiators in the world know how to use the power of silence to their advantage: once you have made your case, given your figure and said what you need to say, shut up! Let your manager be the one to fill the silence and make sure you don’t offer a compromise you didn’t mean.
So there you have it, our five top tips on how to have a successful salary negotiation experience!