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How to Negotiate a Higher Salary [INFOGRAPHIC]


Very few employees enjoy negotiating their salary. Not even their managers enjoy this conversation. So how about some useful tips and tricks to make sure your next salary talk goes as smoothly as possible? Our friends atGrad School Hub decided to research the topic.


A few takeaways:


  • Companies rarely offer pay increases simply 'because' it's up to YOU to ask.
  • Dream big: it's a common mistake to undervalue your role when negotiating. Aim for something thrilling.
  • Know your job description and research your company's compensation policies.
  • Evaluate yourself; understand your own strengths and weaknesses.
  • Consider your peers - get online and see what you should be getting paid.
  • This is not the time to complain about family, funds, or life issues.
  • Deserve your raise through focusing on your unique assets.

Related: 5 Vital Insights for a Successful Salary Negotiation

negotiate_higher_salary_tricks


Transcript:

How to Negotiate a Higher Salary

With the rising cost of living, it seems as if everyone could use a raise in salary these days, but the majority of people do not know how to negotiate higher pay.

You are not alone

  • 39% of Americans report feeling anxious about negotiating a raise.
  • 26% of women / 40% of men feel comfortable negotiating a raise.
  • 7% of women / 57% of men actually negotiate a starting salary.

Let's Talk Money

Psyche of Salary

  • Companies rarely offer pay increases simply 'because' - it's up to YOU to ask.
  • Dream big: it's a common mistake to undervalue your role when negotiating. Aim for something thrilling.

Stand Out At Work

  • Accept the challenge.
  • Speak up and be heard.
  • Volunteer for opportunities.
  • Capitalise on your efforts.

Track Your Worth. From the day you start:

  • Maintain a Personal Achievement doc.
  • Set goals.
  • Note projects, awards, revenue figures, successful project roles.

Plan Your Approach

  • Know your job description and research your company's compensation policies.
  • Evaluate yourself; understand your own strengths and weaknesses.
  • Consider your peers - get online and see what you should be getting paid.

Not a Pity Party

  • This is not the time to complain about family, funds, or life issues.
  • Deserve your raise through focusing on your unique assets.

Timing is Everything

  • Don't blindside your boss.
  • Time a meeting appropriately with your company's review process.

Showcase Your Work

  • Don't simply rely on your words, or abstract figures.
  • Provide visuals in a presentation of your successes.
  • Don't expect your supervisor to have your every move memorised.

Trends for 2013

  • In 2013, the average American can expect their salary to be raised by 3.0% compared to 2012 where the average salary only increased by 2.7%.
  • Energy employees (oil, gas and mining) will receive the biggest pay bumps at 3.9%, while Educators and government employees will get the smallest pay bump at 2.1%

 

Emolument provides bonus and salary statistics based on data submitted directly by professionals like you. It is free, anonymous, and already a trusted tool for thousands of professionals worldwide. Are you paid enough? Click here to find out now.


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