Stacey Bossenger, the Director of Ad Talent, a recruitment agency, shares a guide on how to best negotiate for a salary increase.
With 2018 drawing to an end, many people will be thinking about their career choices. While some might be planning to look for better job opportunities, others will be thinking of asking their employer for a salary increase.
However, negotiating for a salary increase is not an easy thing to do – especially when you are not prepared.
Learning the do’s and don’ts of asking for an increase can help you get the raise you feel you deserve.
We spoke to Stacey Bossenger about the best way to negotiate for a salary increase.
She says one of the first things you have to understand your company’s policies.
“You need to know what the company policy with regards to bonuses, commissions and increases are so that your request for an increase is in line with company policy,” says Stacey.
She warns that the reasons for wanting an increase should never be based on lifestyle needs.
“Don’t use your lifestyle as a reason to ask for an increase. You get paid for what you deliver at work and your personal situation is not the company’s problem.
“Have a clear idea of what you would like to receive and why you deserve an increase. You may consider other perks besides money to negotiate, e.g. contribution to your child’s education, more leave days, flexi-time etc. Make an appointment with your employer and be sure you can show your value to the company,” she adds.
In a situation where you took on a job and realized only afterwards that the workload doesn’t match the pay, Stacey advises that you should address the matter in a business-like manner, instead of acting out of frustration.
“Should you have been given more responsibility or a change in designation or a greater workload, then you need to make an appointment with your employer and address the matter in a business-like manner. Do not act on the spur of the moment or out of frustration. Present a strong and convincing case as to why you deserve (not want) more money.”
Although you can have a desired amount of how much your increase should be, Stacey says it’s always best to “be realistic”.
You can be working very hard and deserving more than you are earning, but before putting an amount on the table, it’s also important that you look at how your company is performing financially. Try to find out if the company is in a position to offer you the amount you want. If your company is retrenching or struggling financially, now might not be the best time to make financial demands.