Starting a new job or patiently waiting for a salary increase, you need to know how to go about asking for what you deserve. Unfortunately, money makes the world go round and it’s a necessity for everyday living. You need to be fully prepared to ask the question before stepping into that meeting or interview and here’s what you’ll need.
Know what you need
Firstly, you need to have an idea of what you need salary wise to cover all your bases. Things to factor in include your monthly rent, debit orders, essential groceries, and savings. You also need to consider the distance from your home to your workplace and include the amount of petrol you will need to put in your car every week or two. When you have added all these expenses together, you will have a very good idea of what you need in your basic salary.
Do your research
Working off your calculated basic salary, you can now factor in your work and relevant experience, as well as all your qualifications. Your sales and marketing courses, Google Analytics, and Foundation Diplomas will all be beneficial in this regard.
This is where the research comes in. Find out what the current averages are for your industry’s salaries. In other words, find out what your market value is, sans experience.
Know the statistics of market-related salaries in your chosen position and make sure it pays in your favour by indeed being more than your current pay. Here is where you work out what salary it is that you deserve.
Take note of the maximum and minimum salary offers and be sure to present these in your salary expectation range.
Work within a range
When asked what your salary expectation is, don’t be quick to blurt out your previously costed figure. Work within a range by making your targeted salary your minimum value and a realistic industry salary offer your maximum value.
This way you are likely to get the salary you know you deserve, if not more.
There’s a time and place for everything
If you are going for your first round of interviews, now is not the time to be talking about money. Not even when they ask you if you have any questions for them. Only if they bring up the topic of salary expectations or when you are in your final phase of interviews and are asked if you have questions, is it a good time to bring it up. Your first interview is about getting to know the company and the job position you have applied for. Not to start ordering your potential employer around with what you need to be paid or they might forget your application. Remember, you need this job, that’s why you applied.
If you are wanting to ask for a salary raise, make sure you schedule an interview with your employer. Don’t blindside, beat around the bush or be cryptic about the fact that you need to talk to them about an important matter. If you have been in the company for a good few years, it shouldn’t be an issue setting up a meeting. But if you’re only a few months in, maybe rethink whether you are actually in a position to apply for a salary raise.
You now know your worth, and if you’ve been stuck in this company for years, they know your worth too. There’s no reason for you to doubt your research and your credibilities. You want your potential or current employer to take you seriously and this is also a serious matter. Don’t fidget with your hands, leave your pants alone and look them in the eye when you are presenting your case.
You have every right to have this conversation and ask for what you deserve. Just don’t be overconfident where you assume you have a fail-proof case and that you’re bound to get what you want. Your employer also reserves the right to (fairly) deny your offer.
Keep your cool
It’s understandable that after a rehearsed and well-researched pitch, hearing the word “no” will short circuit those focus bulbs in your brain and make your left eye twitch. It’s always the left eye. But you need to keep your cool.
“No” doesn’t mean there’s no room for further discussion. Be sure to include a counter offer in your argument, know when to humble yourself but don’t mistake it for “bowing out”. In the same breath, keep this argument a two-way conversation. Don’t just refuse any offer you hear from your employer’s mouth if it’s not the ballpark figure you have running through your head. Discuss why and motivate why not. Together you will both understand the reality of what you’re worth and what the company can afford.