Negotiating a Higher Salary

Negotiating a Higher Salary

Everyone wants to make the most money possible. After all, you work extremely hard...under tremendous pressure, especially now as the Internet and other technological advancements of recent years have made everything in the office move much faster.

Here are five tips, compiled from Human Resources professionals at companies small and large, that can help you receive the pay increase you know you deserve:

1) Speak up.
Most people go into their annual job review, upon which pay raises are usually based, and simply sit back and accept everything their supervisor has to say including the amount of salary increase. If you know you've done a great job in the past year, you owe it to yourself to at least bring up the possibility that perhaps you are worth more than the company is offering. Yes, economic times are not the best right now, however, companies are still willing to pay top dollar for the best talent.

2) Aim high.
Of course, you can walk a fine line between being perceived as greedy and asking for the raise that you feel is owed to you. But did you know that most companies will offer significantly less money than is actually available? It's a fact. Most department managers will offer a raise that is actually below the figure they are authorized to approve...sometimes, as much as 2 or 3 percent lower! Therefore, it's probably a good idea to aim high in your asking price.

3) Be realistic.
Although you want to put the largest possible raise in your pocket, you do not want to ask for a raise that is unattainable. In presenting your case, suggest a figure that aims high as mentioned in tip #2 above, yet is not completely outrageous. That way, you are more likely to walk away from your negotiations with a victory, even if its not as great as you originally planned.

4) Support your case.
It's one thing to talk a good game and present to your boss all the reasons why you deserve a higher salary, but as the old axiom goes, talk is cheap. If you've accomplished big things in the past year, for example, coming up with a way to reduce costs in your department be sure to document your accomplishments so you can show the boss, in writing, exactly why the company would be making a solid investment in you by giving you more money.

5) Know when to back off.
In many instances, you can do all of the above, and still your supervisor will not budge. Instead, he or she will stick firmly to their guns and insist that you take the raise being offered...or leave it. In such a case, be sure not to push the envelope too far and label yourself as difficult. Indeed, most bosses will admire the fact that you spoke up for yourself and took the initiative to ask for more money. Yet, its important to recognize that sometimes theres simply no room in the budget to meet your higher salary demands...but since you've planted the seed, perhaps there will be next year.