ALT-2 How to Negotiate a Higher Salary
Negotiating a higher salary is often a balancing act between getting what you need or want and making sure that you stay within restrictions that the company is working under. One thing that is often overlooked is that companies have internal dictates that prohibit them from paying more than a predetermined amount for a specific position. Those who are trying to negotiate a higher salary fall into one of two categories, those who are being hired and those who have been with a company and are undergoing a salary review. Each of these requires different skills to negotiate a higher salary.
New employee
If you are trying to negotiate a higher salary as a newly hired employee, you will often face some challenges that may be difficult to overcome. Some simple things that you can do that can help you negotiate a higher salary include:
Referencing complementary work - If you are being hired for a position that is similar to a previous position that you held you should point out your successes in that position. Call attention to the salary you were making (if it was higher than what is being offered) and explain why it would be beneficial to the company to pay a higher salary;
Reference special training - If you have had special training that enhances your skills for the job you are interviewing for, bring this up and mention why it helps the company. Remember, negotiating a higher salary must be not only for your benefit, but must also be beneficial to the company.
Review period employee
If you are going through an annual or a semi-annual review with your employer, you will need to provide your employer with some strong facts (and figures when available) to justify an increase in your salary. Remember, your employer wants to know what you have done for them. They want to know what you have done to improve their business model and also what you have done to impact the bottom line. Here are some of the ways to validate your request for a higher salary:
What projects you worked on - Be prepared to discuss any projects (major ones) that were worked on since your last review. Make sure you know the facts and figures including the goals of the project, what was accomplished and where possible, the change the project made in the bottom line;
Added education - If you took the time to take additional classes that increased your marketability since your last review, be prepared to bring them up. Explain why you took classes and what the outcome was of your studies. Be prepared to explain why it is important to the company and to your role in the company;
Previous review milestones - Carefully review your last performance review and the goals and milestones that were established at that time. Be prepared to discuss all of the goals you have met as well as the goals that you are still working on and what progress has been made on them.
While it is never easy to negotiate a higher salary, it is not impossible. A knowledge of the salary ranges in your industry for your job title can help. Being prepared to show why you should be awarded a higher salary will make it easier to negotiate a higher salary whether you are a potential new hire or a seasoned professional.
