Have you ever wanted to ask for a higher salary? The thought of it can be overwhelming and intimidating, but you should remember that you should get paid what you deserve for the work you do. While it may be an uncomfortable conversation to have, it’s a normal part of the job process. Here are some recommendations on how to proceed.
💡 Fun Facts…
| 1) 80% of young professional report successful salary increases when negotiating (Fidelity Investments Survey) |
| 2) Those who negotiated salaries instead of the initial offer receive on average $5,000 more. (Harvard Survey) |
| 3) More than half of workers don’t try to negotiate a salary increase (Career Builder) |
Research what others in your position are getting paid, so you can get an idea of what to expect. Try to find out the average salary for your position, based on your responsibilities, the industry you are in, where you are located, how many years experience you have and your level of education. There are websites that can help in this process, including Glassdoor and PayScale.
Take inventory of your accomplishments and contributions that you have made. Make a list of your responsibilities, achievements with specific results, projects and other things you have done. Be prepared to explain why you think a salary increase is justified, and make sure you know what your salary requirements are.
Choose the right time to make your case. An ideal time is after you have completed some type of major achievement or project. Also, make sure your employer or boss is not under a particularly stressful or busy period. And it’s best to propose a salary increase during times when the company is successful.
Practice, practice, practice! Try out your pitch in front of others – friends and family – and get their feedback. This will help build your confidence and fine tune your proposal. When it comes time to actually have the conversation, you will be fully prepared.
Have confidence! If you don’t believe in yourself, don’t expect others to. Speak clearly and with conviction. Make sure you have your backing information ready to present. Don’t forget that you have the right to ask for what you deserve to be paid.
Think about other benefits that you could negotiate along with your salary. You might also ask for more vacation time, flexible work arrangements or retirement benefits. Also, keep an open mind and be ready to compromise if needed. If you can’t get exactly what you are asking for, be open to hearing other solutions so that all parties get what they are looking for. Make sure to listen to any concerns your employer may have.
After your discussion is over, make sure to follow-up no matter what the results. If you will be getting an increase in salary or benefits, make sure that it actually gets implemented. If you were denied, find out when it would be a good time to re-open the discussions, or address any concerns they may have.
How often can you ask for more salary? That’s a tricky question and really depends on your situation and your company. Many employers conduct annual reviews during which your positive attributes and areas for improvement are discussed. At the same time, a possible raise is also discussed. It is not unreasonable to expect a salary increase every year, in order to keep up with inflation as well as to get rewarded and recognized for your accomplishments. If your employer doesn’t have a formal review process, then it is up to you to bring up a salary discussion with the appropriate people. If your company has a Human Resources department, that is usually a good place to start.
In the U.S., as of 2022, the average salary for a week’s work for a full-time employee is $984, which is the equivalent of $51,168 a year. There are approximately 111 million full-time workers. For part-time workers, the average salary is $15 per hour, which is the equivalent of $31,200 per year. In the last couple of years, many cities have been increasing the minimum wage rate, which seemed to be stuck for a number of years without much change.
OPINION
Get paid what you’re worth! But in order to do that, you need to first know what you’re worth. Do some research to see what others in your same industry and position are making. There are plenty of online resources to research average salaries, such as GlassDoor. Don’t be afraid to speak up, but make sure you have solid reasons for getting a pay raise…back it up with evidence of your accomplishments. And timing is everything, whether it’s the right time of year or knowing if the company is performing well overall, when you ask for an increase is as important as how much you’re asking for.
