The joy of salary (re)negotiation (or - how to be paid what you're worth)
It’s all about information and evidence and preparation. Know how your performance means you should get a raise.
Likewise - know your worth – what is your market value? Nb - if you’re not confident in your skills and value to your organisation, then you should do this exercise to build your skills map and self confidence.
Your current salary should not be your starting point. Look widely at industry standards, benchmark comparable roles and salaries.
Use your network to bolster your research.
Tell them why you love you role and why you want to do it.
It’s not an ultimatum – it’s in the interests of your employer to pay you what you’re worth. The need to retain talent. It costs a fortune to replace it.
Negotiate after you’ve talked about your performance OR been offered the job.
Don’t bring in personal details – you don’t deserve a pay rise because your mortgage has gone up etc. You deserve to be paid for the work you do.
Salary is benefits as well as pounds.
Don’t say sorry. They aren’t doing you a favour letting you work there.
And if you’re ready to take your negotiation skills to the next level, we’d love to point you towards the MAKE YOUR ASK Project - a bold new movement founded by negotiation expert Natalie Reynolds to provide One Million Women around the world with the confidence and skills to negotiate effectively and make their ask. Find out more here.
Cover photo by Alain Pham on Unsplash