A friend wants to re-negotiate his base salary to be within the range of peers in his field. We looked at a salary survey website and found that he is quite underpaid. Can a person re-negotiate their salary? Is it better to quit and then get re-hired?
Certainly, anyone can negotiate a pay increase at any time in their career. I often recommend people start considering how they would approach their employers for their pay increase.
Of course, if you just accepted a job offer, it is not a good time to ask for more money, but once you have some time and accomplishments behind you, you should look to salary negotiation. If you just accepted the offer, you did so fair and square. That is why it is important to know your value before accepting any job offer.
Salary is not the only means of increasing your compensation package. You can also consider things like extra vacation, time off in lieu of overtime worked, and stock options as extra ways to add value to your compensation, and make it more easy for the employer to accept.
Before going for a pay raise, one needs to do a number of things.
1) Know your market value - do not rely on just one salary survey source. Also, make sure you trust their data. Self-reported salary surveys are far less reliable than those that are reported by the human resource departments in the industry in your area.
2) Your value proposition is a very powerful persuasion tool. Make sure you consider all the ways you ad value to the business. Profit, cost savings, quality, customer satisfaction are all value adds that literally translate into bottom line. You need to assess your contribution to the bottom line.
3) Prepare yourself to discuss this with the boss, and mention that you would like an increase to be in line with the current job market salary range.
4) Each person ultimately falls within a certain percentage on the salary scale. Are you a peak performer with lots of years in the industry? You'll need to agree with your employer where you fit within the performance range. Can you command the top salary within your range?
Salary negotiation is a complex art that requires both skills, knowledge and good timing. One thing is for sure, you won't get ahead as fast as you can unless you be proactive about negotiating your salary!
I highly recommend negotiating salary in your current job before considering leaving your job and trying to earn more money. This is particularly relevant if you are happy with your job aside from the salary.
Having a job offer from another employer is a great tactic to give yourself an upper hand when asking for a pay raise. It is a trump card that you should only play if you feel you need to. - 16928
Certainly, anyone can negotiate a pay increase at any time in their career. I often recommend people start considering how they would approach their employers for their pay increase.
Of course, if you just accepted a job offer, it is not a good time to ask for more money, but once you have some time and accomplishments behind you, you should look to salary negotiation. If you just accepted the offer, you did so fair and square. That is why it is important to know your value before accepting any job offer.
Salary is not the only means of increasing your compensation package. You can also consider things like extra vacation, time off in lieu of overtime worked, and stock options as extra ways to add value to your compensation, and make it more easy for the employer to accept.
Before going for a pay raise, one needs to do a number of things.
1) Know your market value - do not rely on just one salary survey source. Also, make sure you trust their data. Self-reported salary surveys are far less reliable than those that are reported by the human resource departments in the industry in your area.
2) Your value proposition is a very powerful persuasion tool. Make sure you consider all the ways you ad value to the business. Profit, cost savings, quality, customer satisfaction are all value adds that literally translate into bottom line. You need to assess your contribution to the bottom line.
3) Prepare yourself to discuss this with the boss, and mention that you would like an increase to be in line with the current job market salary range.
4) Each person ultimately falls within a certain percentage on the salary scale. Are you a peak performer with lots of years in the industry? You'll need to agree with your employer where you fit within the performance range. Can you command the top salary within your range?
Salary negotiation is a complex art that requires both skills, knowledge and good timing. One thing is for sure, you won't get ahead as fast as you can unless you be proactive about negotiating your salary!
I highly recommend negotiating salary in your current job before considering leaving your job and trying to earn more money. This is particularly relevant if you are happy with your job aside from the salary.
Having a job offer from another employer is a great tactic to give yourself an upper hand when asking for a pay raise. It is a trump card that you should only play if you feel you need to. - 16928
About the Author:
Trevor Davide Grant is a project manager in the IT field and has extensive experience in salary negotiation. Trevor has worked for large telecom, electric utilities, software development consulting, and a prominent social network. He has learned salary negotiating in the most effective way. Learn great tacticson the topic of salary negotiating at www.HowToNegotiateASalary.com.
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