Asking for a salary bump isn’t just about going to your boss and asking; you have to come prepared
Talking about money can be uncomfortable. If someone came up to you and asked how much you earned, it would be a bit awkward. Some people even find it weird to talk about their salaries with friends and family. Money and finances can be a loaded topic. While some find it tacky to discuss salary, others find it embarrassing and even scary. While brunch might not be the ideal place to take out your payslip, your manager’s office is. According to a PayScale survey of more than 30 000 workers regarding their salaries and increases, 57% of people surveyed did not ask their employers for a raise. 28% of these said that they would be uncomfortable asking for more money, which is why they didn’t negotiate.
DON’T LET FEAR STOP YOU FROM GETTING A RAISE
So, talking about money makes you feel uncomfortable. Here’s the thing: Waiting until your employer brings it up or only relying on inflationary increases could result in you losing out. Short-term discomfort is worth the rewards. To build your confidence, stretch your negotiation muscle by starting small. Noah Kagan, entrepreneur and founder of AppSumo, suggested to The Muse to ask for a discount on your morning cup of coffee. Asking for a 10% discount at a cafe isn’t actually about saving – it is in fact about getting out of your comfort zone. Also, look to someone you admire in the business world. How would your mentor handle a salary negotiation? Would they be scared to talk about money? If they’re your mentor, probably not.
DON’T ASK FOR AN INCREASE, NEGOTIATE ONE
A salary negotiation is just that: a negotiation. Don’t expect to go into this meeting and just ask for money. ‘Go into the meeting with an egalitarian “we are both adults” attitude rather than that of a subordinate asking for a favour. If you’ve done your homework, then you should already have insight into what your manager’s priorities are, whether they view your performance in a positive light, and how much authority they have to say yes,’ says Harvard Business Review.Once you’ve become more comfortable with the idea of salary negotiations, it’s time to get to the specifics and prepare your points. If you’ve just started a new job, it’s probably not the time to negotiate a raise. The time to discuss salary was at your hiring interview. If you’ve been at the company for six months to over a year with no bump, it could be time.
DO YOUR RESEARCH AND KNOW YOU’RE BEING UNDERPAID
While comparison may be the thief of joy, comparing the job you do at your company to the same position in another can give you some valuable insights. One being any salary discrepancies. Use websites like mywage.co.za and career.junction.co.za to find out if you are missing out, and how much of an increase you can realistically ask for.
REFERENCE THE SPECIFICS ON HOW YOU’RE HELPING YOUR COMPANY REACH THEIR GOALS
Yes, you go to your job from Monday to Friday because you want and need money for your lifestyle. But, you’re not the only one benefiting from this situation – the business you work for is also getting something out of the deal. Namely your time, skills, and experience. The company hired you because HR and management felt that your qualities would push the business forward and increase the bottom line. They’re not employing you out of the goodness of their collective company heart. ‘Quantify your achievements and focus on how you are directly helping your company achieve its goals. Then suggest a salary range and make your case as to why you deserve more,’ explains Forbes. Kate Dixon, principal and founder of Dixon Consulting, suggests, ‘Be collaborative. This is not an “I win, you lose” situation. Creating ultimatums puts everyone
on edge.’ You can highlight your performance while also focusing on your future plans. When you do this, a salary increase for you is an investment in the company’s future.
DO NOT WAIT FOR PERFORMANCE REVIEW SEASON
Don’t wait until the actual performance review meeting. Instead, broach a salary increase around a month or two before. By the time your performance review comes around, management and HR have already sat down and discussed increases. When you have a meeting beforehand, you have more of an opportunity to state your case and go beyond the standard company percentage. You work hard for your money, and you should be compensated accordingly. Don’t let fear get in the way of your career goals. Take initiative by setting up a salary meeting and, most importantly, come prepared. When you’ve got the receipts of your dedication and hard work and are ready to negotiate, it’ll be difficult for your manager
not to come over to your side.
Words by Paula Rabeling
Photography Pexels
