You can search websites like salary. com, payscale. com, glassdoor. com, and others to find out information about what people are getting paid in equivalent positions. You should also try asking around to various friends and colleagues, especially if they are in a related field, to figure out what an appropriate figure would be.
When in a professional setting such as an employment interview, avoid bringing up previous salary figures. Base your personal salary requirements on your education level, previous experience and skill set, and comparable industry statistics. Come prepared with updated and current data regarding average compensation for someone with your level of qualifications. If the potential employer does ask you to provide a specific dollar value for a desired salary, be honest with your expectations. A common mistake occurs when employees propose a salary lower than they would really want to accept for fear of being turned away by the employer. Whether in a range or a single amount, a prospective employee should never offer an amount less than they are willing to take under the worst situation. [3] X Expert Source Jonathan SoormaghenCareer Coach Expert Interview. 7 October 2020. A useful strategy is to offer a mid-range figure with the statement that is negotiable depending upon benefits, promotion opportunities, etc. That way, each party can save face.
If a potential employer asks you to disclose the salary level of your current or previous position, do not be afraid to include all forms of compensation. This could include health benefits, 401(k) contributions, profit sharing, or other benefits in addition to your base salary. State the amount of your “total compensation” including the value of the benefits package. There is nothing wrong with this strategy, so try not to consider it misleading. In return, be sure to consider all forms of compensation when comparing a competing salary offer to your current or previous position. Employee benefits are an often overlooked but significant portion of a salary offer.
This means that you could be punished at work for discussing your salary with other employees or inquiring about your colleagues’ salaries. You might not be fired for this, but you still don’t want to get reprimanded at work.
If you have an annual performance review meeting, this would be a great time to bring up the discussion. Otherwise, give your boss a heads up that you would like to schedule some time to discuss your performance and compensation.
Being able to speak confidently and openly about salary expectations will show your employer or associate that you are professional and confident. Getting embarrassed or nervous when speaking about your salary may give the impression that you are not capable of discussing complex issues with coworkers. Remember that compensation is not a “gift” from an employer, but a negotiated exchange of compensation for expected value to be received by employer. If the employer did not believe they would get that value, they would not make that offer.
Don’t offer a lot of extra information or get emotional. Try responses like, “I feel that I am a valuable asset to this company for reasons X, Y, and Z, and based on my contributions to the success of our business, I feel that I should get a raise. ” If your boss asks you for a specific dollar amount, aim high (but be aware of any salary ceilings). This means that your boss can counter with a lower offer that you both could be satisfied with. [9] X Research source
Of course, you can also ask for other forms of compensation like more paid time off or other benefits. Ask your boss for constructive criticism so that you can do a better job in the future and get the raise you want. Don’t burn bridges or quit even if you don’t get the raise you feel you deserve. If you want to start looking elsewhere for a higher salary, remember that it is easier to find another position while employed than unemployed, so stick with your current job until you find something else.
This is an especially good tactic if revealing your salary would make you uncomfortable or if you believe it would cause tension between you and the person asking. You might say something like, “I make about an average salary for someone with my job and experience. "
For example, feelings of resentment could arise if a friend discovers you make significantly more money than them. Or there could be disagreements over what activities you do together because one of you can afford it and the other can’t. Additionally, people might judge your financial decisions more harshly when they know the specifics of your income. For example, your mother might chide you for buying a new car if she thinks your salary isn’t enough to support the decision.
Consider simply talking generally about salary with those close to you. You can ask for advice on how to negotiate for more money (strategies that have worked for them and those that didn’t work so well) without needing to disclose specific numbers.
