Salary Negotiations: The Journey is the Reward

Published on 23.07.2017

You’ve been successfully working for your company for a long time and think it’s time for a promotion to reward your valuable work? Then be proactive! Because employers will only rarely recognise your abilities themselves and raise your salary.

But what’s the right way to approach the question of a raise?

If you want to make sure you come off well in the negotiations, it’s essential to have the right arguments, a convincing manner and the right approach!

1.    The right timing

First of all, it’s important to wait for the right time for such a discussion. There are plenty of opportunities that are particularly good. Is the company currently celebrating economic success, have you recently mastered a task magnificently, or was there a meeting where your performance stood out? Then now is the perfect time for a face-to-face meeting with your supervisor. Advise them that you’ll be addressing the issue of salary and make sure you pick the right day. Often, Fridays are viewed more positively than Mondays.

2.    Prepare your request for a raise

Preparing for the salary negotiations is the most important aspect of the meeting. It’s important that you come armed with a strategy and the right arguments that support your demands. How can you collect the right arguments? With your accomplishments for the company! Successful tasks and projects that brought the company forward, your own progress and development, and an exceeding of key performance indicators can justify a salary increase to your supervisor. You have to be proactive and negotiate confidently!

3.    Use the anchor effect for your required salary

When it comes to your required salary, it’s important to name the first figure and thus place the anchor, to take advantage of positive anchor aspects. You should name a concrete, but non-round number, which is an increase of around 5 to 10% and leaves a little buffer space downwards. As the counteroffer for your salary will be lower in the negotiations, the pain threshold shouldn’t be reached yet. By using a non-round number, you create a psychological advantage because you’ll be seen as well prepared and convinced of your own value.

4.    Compromise

Even if you ultimately don’t get the salary you required, this doesn’t mean you lost. If the company can’t give any raises, compromises can also be a form of reward. If you gain further training, allowances or other benefits in the meeting, these will help you in your future at the company too. In this case, stick at it and see that you get another meeting at a later point in time.

5.    What you shouldn’t do

Finally, there are things that you should definitely avoid in salary negotiations. Don’t back-pedal! Of course, your boss won’t want to pay you a higher salary, but a negative stance doesn’t mean “no” right away and shouldn’t cause you to expect less. And even if you can’t push through your desired salary, you should never start to speak badly about colleagues and compare yourself to them. And putting your supervisor under pressure will only have a negative impact on you. Stay friendly, ask for the reason for the refusal and improve your abilities in the areas named, so you have hard-hitting arguments again in your next salary negotiations!

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