Know your worth: How to
negotiate a better salary!

How much are you worth, and how do you approach a meeting where your manager will evaluate your worth based on your skills and results? There are plenty of ways to approach the yearly feared salary meeting or salary negotiations during the recruitment process. The question is, will you take the paths that will help you get a salary raise? Read our tips on how to approach and prepare for the salary negotiations!

Why prepare before the meeting?

Whether you’re discussing salary for a new job or a salary raise in your current position you must always be prepared before entering negotiations. Know how much you want to earn for doing the job you’ll do or are doing - this is especially significant if you’re going to a job interview! Several reference points determine your salary and the recruiter or your employer will also have an estimated ballpark for how much they want to pay you. Salary negotiations are mind games where you start high and finding a middle ground that you’re both satisfied with.

Don’t go way above your estimates with incredibly high demands because it can result in a bad atmosphere at work or breakdown of negotiations with a potential employer. Find a number you’re comfortable with and don’t play your hand too early. You don’t want to scramble for numbers or demand a salary you haven’t thought about during the meeting!

Compare the average salaries in your field

Find out what other professionals with your job titles are making before tax to better gauge what salary level you should aim for. There are many resources online for comparing salaries in any given industry and for almost every job role.

Depending on your role, education, experience and geographic location, you can find the salary bracket you can expect to be in. The tools are helpful if you’re wondering what you should earn with your current experience, but don’t use them as definite reference points. Plenty of other factors count towards your expected salary, such as results and achievements, which can impact your expected salary positively.

Make a sheet with your results for the year

How much value do you give to the company? One significant aspect of your preparation is showing what you delivered throughout the year. Go through your work and list the results and outcomes of your work. It’s an invaluable bargaining chip if your employer is reluctant when discussing a salary raise because you can pinpoint the exact results and achievements throughout the year, thus showing your actual value to the company.

Safe to say it shouldn’t be necessary to do so because your manager should be able to measure your work and results through data, but time restraints may affect your manager’s preparations. In other cases, a manager’s data might differ from your data which opens up another discussion, a talk you might not have had if you hadn’t done your homework! Therefore, by having everything ready by the time you meet, you’re in a much better position to negotiate a better raise!

Find a salary bracket through your coworkers

Are you allowed to discuss salary with coworkers? Sure you are. It’s a great way of knowing what salary you should expect to command. It’s a complete myth that you can’t talk about salary with your coworkers, don’t be discouraged by the notion that you’re talking to other people behind your employer back. In the end, a better salary is to your benefit and talking to coworkers and acquaintances might help you find a salary level that you’re comfortable negotiating towards.

Jobseeker: Find your number!

As a job seeker, you want the company to play its hand first. Sometimes, they announce the salary bracket in the job ad; other times, they ask you first. No matter what approach you, the recruiter or the company take, the most critical thing is your preparation. 

How should you approach your preparation? Find your number and salary bracket before you enter the meeting:

• Review your previous salaries.
• Compare the average salaries in your field.
• Consider bonuses, competition clauses and pension.
• Talk to acquaintances with similar roles or jobs.

All four considerations will help you settle on a number you’re comfortable with, and you’ll be in a stronger position when the topic of salary comes up during the meeting!

Employee: Support your number!

As an employee, your position gets stronger when you can support your number with facts and data; therefore:

• Gather data about your results.
• Review your daily tasks: do you have more responsibility now than last year?
• Talk to your coworkers about their salaries.
• Check and compare your previous raises.

By being prepared for the negotiations with your manager you’re in a powerful position because you’ll be able to support your demands with facts and data, thus increasing your chances of convincing your manager to accepts your proposed salary raise!

Salary negotiations can be tricky and intimidating to some, but if you come prepared and show confidence you’re more likely to land a deal that you’re satisfied with and you’ll be mentally ready to deliver exceptional results in the year to come!