Negotiating your salary

Negotiating your salary

You think that you have done a great job during the year, your boss looks happy and you do feel that this is time to knock on his door and start a conversation about your future perspectives within the company and possible wage increases? You probably won't be alone, there will certainly be other team members who also feel ready to start discussing the same.

So do not wait any further and focus on fulfilling the key points and goals that will lead to a wage increase. If you work for a company that is transparent in the payroll policy, the entire process is likely to be managed by the HR department. Still, you should be well prepared for this meeting.

Schedule a meeting with your boss and write down the agenda. Prepare a summary of your work and achievements or other possible arguments that could help you during the meeting. It is not recommended to start similar discussions without a meeting pre-arranged meeting as it could not meet your expectations  even if you feel that the meeting was constructive.

For example, your manager might suspect that you are looking for another job or feel underestimated, or that you are trying to put pressure on your boss. Also, do not forget to consider how the whole company is doing and in what economic situation it operates. It is ideal to set up comprehensive personal interviews with your supervisor, ideally twice a year to assess your performance, outlook and set goals for the coming period. This is an ideal opportunity to open up the question of raising wages or acquiring new competencies. However, it is always more appropriate to present the your personal contributions to the company rather than to argue with inflation or wage increases within the market.

When negotiating wages, you must be reasonably confident and convincing. Preparing for this interview gives you an idea of ​​whether the time is right.

 

1. Do I deserve wage increase?

Think about your personal contribution to the business or a company. What have you achieved your last interview with your boss? This may include, for example, expanding the customers portfolio, new responsibilities, newly acquired qualifications or training. Be specific, it is not enough to say that your living costs have increased and that you are doing a good job.

2. What is your price on the labour market?

Find out what salary is earned on similar roles with similar qualification, for example use our Salary guide or Online Salary Checker.

3. Good timing

Be smart when scheduling the meeting. Monday morning or Friday afternoon are not ideal for meetings of this kind. It is better to address your wages as part of a regular evaluation of your work. It's also not a good idea to start this discussion if your boss or company faces some serious issues.

4. Presentation

It is good to mention your merits, cooperation with other teams, cooperation on a new-starters training or similar achievements.

5. Don´t be emotional

Even if you feel that you are not being paid the market level, calm down your emotions keep in mind that this is a business meeting where pragmatic facts should come first.

6. No threats

Quite honestly - it is not good to threaten to leave the company or to mention personal reasons for the need of wage increase. This can raise concerns about your intentions and prospects for the future.

7. Get ready for negotiations

Your request should be realistic, based on facts and achievements. When negotiating, be prepared to compromise - the first proposal is not always accepted.

8. Are you ready for new competencies?

Wage increases can lead to new responsibilities, so make sure that is what you really want and whether you have the capacity for the new tasks.

9. Take your time

You do not have to accept the outcome of the negotiations immediately. If in doubt, take some time to think through.

10. Email

After the meeting, summarize the results in an email to avoid misunderstandings.