Pay raise tips to negotiate a higher salary increase in 2020. Asking for a pay raise can be rewarding, if done correctly.
- There is no standard method for securing a pay raise. These pay raise tips cover how to negotiate or ask for a pay raise. In addition to negotiating a job promotion.
- Successfully negotiating your pay raise results in $100,000s over the course of your career.
Pay raise tips to successfully negotiate a salary increase in 2020
- Always evaluate the risk factors.
- You can ask for a pay raise at any time of the year. But the best times to ask are;
- after the company announces good financial results
- before next year’s budget
- after you have secured another job with a competitor
- or after you have successfully completed a major project
- Sometimes, if you don’t ask for a pay rise, you don’t get one.
- Evaluate what you are worth in the market place through job ads and associations. Use this as a guide for how much to ask.
- Make weekly notes of all your achievements. Also, note how the company and its clients have benefited. This is one of the best justifications for negotiating a pay raise.
- If you haven’t received a pay raise recently, your boss is probably expecting you to ask for one.
- A pay raise can be in the form of salary packaging. It can be a company car, laptop, insurance, cell phone … etc. Discuss all salary options that appeal to you with your employer.
- Through the hidden job market, if a company finds the right candidate, they hire that person. As you would be the only candidate, you can negotiate a higher starting salary.
More salary increase tips
- If you are not successful in getting a pay raise, don’t make emotional moves.
- If your pay raise request is not successful, ask your boss what will qualify you for a raise. Also, ask what the time frame is. Follow up within the time frame. If he or she delays indefinitely, ask for a new time frame and follow up within the time frame.
- Whatever approach you choose to secure your next pay raise, negotiate in person. If it is not possible to meet in person, then negotiate on the phone.
- If you are expecting a 10% pay raise, you should ask for 19%. And then negotiate with your employer.
- If it will be hard to replace you, you can negotiate a high pay rise.
- Many companies review everyone’s salary on a yearly basis. So ask for more than the standard pay raise, if you deserve it.
- If you deserve a pay raise, ask for it, even if your boss says the economy is bad. Don’t give up, even if they are not giving anyone else a pay raise.
- If you are confident that you deserve a pay raise, be persistent. But be reasonable and professional. Do not push your boss into making a quick decision about your pay raise.
- When you are successful in getting a pay raise, thank your boss. Thank your boss in person or via email.
What to avoid when you negotiate a pay raise
- Avoid writing a salary increase letter, unless you have to. A face to face discussion or a phone discussion are the best methods to discuss a pay raise. While some write a pay raise request letter, we recommend you ask for a meeting with your boss.
- Sometimes, to justify why you deserve the pay raise, you may be asked to write a salary increase letter. Also see counter offer letter
- Even if your boss is in a different location, it is better to wait until they come back. So you can discuss in a person. instead of writing a pay raise request letter. Even if you have to call your boss, it is better than writing a pay raise request letter.
- If your performance is weak, delay asking for a pay rise. And don’t be persistent, until the factors improve.
We’ll add online salary negotiation coaching and sample salary increase letter. In addition to accepting a new job offer and salary packaging negotiation.
Please share these tips and how to ask for a pay raise.
Also see my salary negotiation coaching
KMD-Solutions is based in Sydney, NSW, Australia
Design by Trendy Web Solutions