Many people find discussing money difficult. But when it comes to your wage, this is no time to skirt around the issue. Whether you feel your current pay packet doesn’t reflect your worth or you are about to start a new position, it’s important to negotiate your salary.
Why negotiate your pay
The first thing to appreciate is that negotiating your salary is not about being greedy. The money you take home at the end of the month should be fair compensation for your efforts, skills and overall contribution to your employer’s organisation.
If you don’t think your current salary or the offer on the table reflects this, then you are right to ask for more.
A salary isn’t just about your bank balance. Think about it holistically. You can negotiate other benefits like flexible working, health care, child care and career development through training and qualifications. It all goes into the mix.
Here are the things you must do to negotiate your salary, so you get the reward you deserve:
Do your research
If you feel your pay doesn’t add up to your worth then start researching what people in similar roles earn. Factor in your experience and unique skills. Also be aware that a job a city will command a significantly higher salary than in a rural town where cost of living is lower.
Make the case
Go to your boss or prospective employer with a carefully planned case about why you are worth more. Having a figure in mind, reasons why you deserve a raise and what you will continue to do to earn it will put you in a good position to negotiate your salary with confidence.
Be prepared to compromise
Budgets are tight – always – so you may need to be flexible about what salary increase will meet your expectations. There may be other benefits that you can negotiate to get the best deal possible.
Importantly, don’t be put off by initial resistance to your request. Be firm about the things that matter most to you but expect some compromise may be necessary.
If negotiating your salary hasn’t resulted in the outcome you want then maybe it’s time to look for new opportunities. Ocean Edge has 20 years’ experience helping candidates find the perfect job in the affordable housing sector.
Take a look at our services for candidates or read more of our blog posts for anyone looking to progress their career. Alternatively, you can speak to our teams in London and Southampton by calling 023 8000 1153 or emailing email@example.com.