The Career Source

The most suitable time to bargain for a raise in your pay with your employer is when:

1. you have made good quantifiable contributions to the company–grab that opportunity.
2. you are a key player in a particular field.
3. the company is doing performance appraisal.
4. you have got a good job offer.
5. your workload and responsibilities have significantly increased – you feel that you are being taken advantage and not rewarded sufficiently.
6. you are asked to take up more responsibilities.

Here are a few justifications you can use to justify a raise in your pay. You can use these points to promote your special value to the company.

1. achievements in the past year within your work objectives
2. achievements in the past year outside your work objectives
3. extra responsibilities added since last salary increase with reference to your job description
4. new qualification earned since your last increment
5. new initiatives you plan to take on to enhance work efficiency and effectiveness, improve business competitiveness and profits, and reduce cost.

Try to quantify the results in each category as much as you can.

Are you feeling unhappy with your boss because he or she is constantly pushing you to the limit? If you’re delivering great value to the company but feeling that you’re not rewarded adequately, you should, perhaps, plan a pay raise negotiation session with your employer. An effective and truthful meeting on salary will help to iron out situation like this and find solution that can benefit both parties.

But, as we’re all fear of being rejected or upsetting someone in the negotiation process, it is very normal to feel uneasy when discussing pay raise matter with a superior. Nevertheless if you’ve decided to ask for the salary that you deserve, you should first learn some techniques before taking actions. With a proper plan and preparation, you can even get an increment while your company is under a salary freeze. Here are the tactics you can use.

1. Evaluate your present state and set target
Survey your company’s policy on wages. Is there a ceilings pay for the position you’re in? How much the other people are getting in an identical position? If you’re contributing value to the employer, and that there is still gap to reach the ceilings, you can play your card confidently.

2. Find out your value
Research on how much would other organizations in the same geographic location and industry are paying for a similar position. Set a goal in mind for how much you should aim for.

3. Be confident with your bargain
If you’re making good contribution, and that you’re a key player in the company, you have the bullets to ask for more. At the end of the negotiation session, you will either receive an increment or discover that this is not the right company to satisfy your needs. It may be time to start looking for other opportunities.

4. Not just for money
The negotiation can be for non-monetary rewards besides salary. You should review the overall remuneration package including bonuses, share options, subsidies, annual leave, flexible working hours, medical care, pension plans, insurance coverage, and leave passage. It can be an improvement for any of these items.

5. Write a letter to ask for a meeting
To ensure you succeed in a negotiation, don’t discuss salary topic with your employer without pre-arrangement for suitable time and venue. Draft a formal letter for salary increment and indicate your intension. Consider to use a proven template with effective contents.

6. Prepare your argument
Get ready a package to sell your special contributions, accomplishments and skill set for your job functions. Don’t forget to underscore your achievements.

7. Demonstrate your good value and credibility
Your meeting can go much smoother if you have recently contributed good value to the company. Having a discussion right after some achievements can help to lower the resistance to get a pay raise.

8. Ask intelligent questions and let your boss talks
Ask open-ended, wise questions and entice him or her to talk. Most bosses, especially those with strong egoistic trait, always believe that they make the best decision. Don’t go against their will, but get them agree on your raise by confirming your worth.

9. Set aggressive goal and start to negotiate
A good approach is to “demand for more and then settle for less.” Elaborate why you deserve for a raise, and justify it with your outstanding performance. Before revealing your target, let your boss make the initial offer. You may be given a salary higher than your expectation. Know how to play your card, and set your target a little bit higher than the industry.

10. Be prepared to find another job
Don’t show you’re desperate. If you’re able to make the employer feels you’re ready to move on to another new job should the negotiation fails, you’ve made an uncompromised situation for your boss to follow.

Find out more on how to ask for a raise