Need More Income? How to Negotiate for Higher Wages

by Gina Blitstein · 0 comments

Living frugally is a surefire way to stretch your budget – but it’s certainly easier to live within a budget when there’s more income to be allotted. While you might be able to earn extra money taking on a second job, it would be easier if your present one paid you better. Consider negotiating for higher wages at your current job. As a loyal, experienced employee, you may have more leverage than you think with your employer.

Suggestions for successful salary negotiation:
Research – Suspecting that you could make more in your current employment is different than knowing so. Consult a pay scale calculator to discover the customary salary range for your position. Also, consult your professional network for intel about your field and your role within it to enable you to effectively assess your professional worth. Learn the reasonable salary expectation for an employee in your position, with your level of experience, in your geographical location to ascertain the fairness of your current salary. This information will empower you to make the strongest possible case for yourself when negotiating for the wages you deserve.

Put yourself in a winning state of mind – Adopt a “deserving” mindset to enhance your level of confidence. Only your professional persona is at stake – not your personal one. Professional assertiveness is an asset in itself; asking for a raise indicates that you are proud of the caliber of the work you are doing and feel you deserve to be amply compensated for your expertise and dedication.

Prepare to present your case – Quantify and qualify the assets you have brought and continue to bring to the position. Underscore the experience, qualifications, expertise, loyalty and diligence you provide the company. Those attributes have value to employers that less-seasoned employees cannot bring to the table. This exercise will imbue you with the sense of confidence you need to present the strongest argument for higher wages.

Rehearse the negotiation – Even if you’re feeling confident, rehearse some of the common scenarios with a friend or colleague. The exercise will help you go into the negotiation with confidence and retain your poise and assertiveness, no matter the reaction of the negotiator or the ultimate outcome.

Negotiate smart – Once you know where within the salary range for your position you fall – considering your experience and skill set – take the top of that range plus 10% as your starting negotiation bid. Expect a counteroffer from the negotiator that will be lower, but by suggesting a higher wage, the offer could well be within your ideal pay range.

Be flexible – If the negotiator agrees that you are indeed worth a higher salary but is unwilling – or unable – to meet your request at this time, suggest alternative compensations that would be acceptable to you. More vacation time, flexible time, a four-day work week, a work from home option or an increase in other company-provided benefits could be valuable ways to “sweeten the deal” without as much cost to the employer.

Show you’re a team player – If the answer to your request for a raise is, “No,” remain calm and collected. Inquire if there’s a way to move up the ladder within the company to a position that will pay more. This initiative shows that you’re interested in remaining with the company if possible but that you genuinely feel you deserve greater recognition than you’re currently receiving. Mention that you’d be open to renegotiating in the future at a more opportune time for the company.

With planning and fortitude, you can successfully negotiate for a bigger income.

What techniques have been successful in your salary negotiations?

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