Pay raise tips for a CEO, data scientist, machine learning manager and project manager.
- These negotiation tips also apply to all levels and all other positions. Including to a director, AI manager, accountant, automation engineer, mining engineer or logistics supervisor.
- In addition to software engineer, welder, salesperson, retail assistant, transportation officer, civil engineer, home loan officer, consultant or payroll officer.
- Successfully negotiating your pay raise each year, from the start of your career, can result in a total of more than $420,000.
- There is no standard method for securing higher remuneration. To follow are tips on how to negotiate and how to ask for a salary increase.
Pay raise tips to successfully negotiate higher remuneration
- Always evaluate all the different risk factors, including your level at the company, your age and the overall economy.
- You can ask for a pay raise at any time of the year.
- Sometimes, if you don’t ask for a pay rise, you won’t get one.
- Evaluate what you are worth in the marketplace through job ads and associations. Use this as a guide for how much to ask. Also take in consideration the cost of living at your location. So, you can justify higher remuneration if you live at a more expensive city. Most multinational companies have different remuneration scales for different locations.
- Make weekly notes throughout the year. Also, note the added value of what you have done. This is one of the best justifications for negotiating a pay rise.
- If you haven’t received a salary increase recently, your boss is probably expecting you to ask for one.
- A pay increase can be in the form of salary packaging. It can be a company car, car allowance, laptop, insurance, cell phone … etc. Discuss all remuneration options that appeal to you with your employer.
- If it will be hard to replace you, you can negotiate a much higher pay rise.
- Avoid giving ultimatums.
More pay raise tips
- If you are not successful in getting a pay raise, stay positive and don’t give up.
- If your salary increase request is not successful, ask your boss what will qualify you for a raise. Also, ask your boss what the specific time frame would be.
- Follow up within the time frame. If he or she delays indefinitely, ask for a new specific time frame. Then follow up within the time frame.
- Whatever approach you choose to secure your next increase, negotiate in person. If it is not possible to meet in person, then negotiate on the phone.
- If you are expecting a 12% pay raise, it is best to ask for 24%. And then negotiate with your employer.
- Many companies review everyone’s salary on a yearly basis. So, ask for more than the standard or average increase, if you deserve it.
- If you deserve a salary increase, 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 rise. This applies to all levels within the company, to women and men and to all positions. Including CEOs, senior managers, data scientists, machine learning managers, AI managers, accountants, health staff, data analysts, automation engineers, mining engineers and logistics supervisors. Also, warehouse staff, supply chain managers, mechanical engineers, mechatronics engineers, IT project managers, construction managers and mining team leaders. In addition to salespersons, software engineers, welders, transportation officers, civil engineers and payroll officers.
- If you are confident that you deserve a salary increase, be persistent. But be reasonable and professional. Do not push your boss into making a quick decision about your salary increase.
- After achieving a pay raise, thank your boss in person and by sending him or her a thank you email.
What to avoid when you negotiate a pay raise
- Avoid writing an email asking for a salary increase, unless you have to. Also see salary increase letter or email. A face-to-face discussion or a phone discussion is the best method for this discussion.
- Avoid discussing your increase request with other managers, supervisors, employees or with anyone at the company. This is applicable regardless of the result of your salary increase request.
- While some write an email asking for a salary increase request, I recommend you ask for a meeting with your boss.
- Sometimes, to justify why you deserve the raise, you may be asked to write a salary increase letter or email. Also see counteroffer letter.
- Even if your boss is at a different location, it is better to wait until he or she comes back. So, you can discuss in person. instead of writing a salary increase request letter. Even if you have to call your boss, it is better than writing a salary increase request email or letter.
- If your performance is weak, delay asking for a pay rise. And don’t be persistent, until your performance factors improve.
Salary negotiation coaching
Let me work with you before your next performance review to negotiate your next salary negotiation. Call me on. I assist clients worldwide, including in Australia, USA, Germany, Singapore, UAE and NZ.
- I will be adding online salary negotiation coaching and sample salary increase email and letter. In addition to accepting a new job offer and remuneration packaging negotiation.
- Please share the above tips and the best ways to negotiate a salary increase.
- If you don’t receive the pay raise you deserve, I would start looking at other opportunities, without resigning. As those who change jobs usually earn more than those who stay at the same company.
- Also, don’t give up on receiving the increase that you deserve after just one attempt.
- Through the hidden job market, if you approach a company and they find that you are the right candidate, they will most likely hire you. As you would be the only candidate, you can negotiate a higher starting salary.
- Certain jobs are in high demand, so you can also negotiate considerably higher salaries for these roles. These include data scientists, machine learning managers, Artificial Intelligence engineers, data analysts and software engineers.
- Ask me if you have questions about the above pay raise tips. Also, call me if you need assistance to negotiate your next salary increase.
KMD-Solutions is based in Sydney, NSW, Australia.
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