Negotiating a higher salary can be a challenge in the existing market and also intimidating for many professionals. As a result, knowing how to even raise the issue in the first place can be difficult.
Follow these tips to give yourself as good a chance as possible to secure the pay rise you are after.
Preparation is key
Regardless of how long you have been in the position, you need to prepare a compelling argument why you deserve more money than is on offer. The more reasons and data you provide to support your claims, the higher chance you will have to succeed. For example, preparing accurate figures on cost-savings due to procedures you have implemented can help strengthen your argument for a higher salary.
Researching the market rate
Researching the going market rate for someone in your role and where you fit with this is generally a good start to your preparation. This information can be found in market reports or online. For example, our latest market updates and Salary Survey provide an overview of rates and salaries across a variety of supply chain and logistics jobs. Alternatively, your recruitment consultant deals with this sort of information on a daily basis, so asking them for advice is another option. Wherever you fit with the market rate for your role, you then need to come up with considered reasons for your proposed pay rise.
Negotiating a higher salary can be a challenge in the existing market and also intimidating for many professionals.
Discreetly raise the issue
When you first raise the issue, do it discreetly and away from your colleagues. Booking half an hour with your line manager in a private meeting room is better than a ‘quick word’ because it allows you to outline exactly why you deserve a higher rate reason-by-reason.
Be confident in your arguments
During the discussion, you need to present a clear and confident argument for your pay rise. Unless you genuinely believe you deserve more money, you will have trouble convincing your manager. Again, this will primarily come down to the amount and type of preparation you have put into the meeting.
It is also important not to get agitated when your manager questions your arguments or shows some sign of disagreement with what you are saying and address each point he or she raises in turn. Throughout the meeting, you will need to demonstrate clear understanding of your employer and where you fit in the organisation, and the role and how your skills are relevant to it.
For more advice on salary negotiation tips, contact us at firstname.lastname@example.org