There is no question that money plays a major role in our lives, yet a few of us were ever provided with good examples on how to approach this topic. Remember your first interview when everyone you know warned you not to bring up the "salary discussion", so in an effort to appear "polite" you avoided the whole money conversation?
Salary negotiation can certainly be overwhelming, especially for those without a great deal of previous work experience, but there are situations when it makes common sense to go over to your manager and say, "I believe I am worth this company than I am being paid at the moment; I would really appreciate a raise. "
Before you rush into your manager's office to discuss the possibility of a raise, consider the following three consequences: One, you may get the raise you really deserve. Two, you may find out you are not nearly as good as you thought you were; so you might as well forget about it. Or, three, you could lose your job since you made your boss focus on your weak performance.
There is no "acceptable" approach to ask for a raise since it's something that we are not trained to do, and it's rarely discussed. So how about we go through the following techniques that will definitely bring a better outcome than doing nothing or approaching this matter in the wrong way.
Ask for Extra Work
Get yourself in a position to ask for a raise. One effective way to approach this is to ask for extra responsibilities and link it to the pay raise you want, if not right away, then in the future. This is a mature approach that employers respond to better than if you simply asked for a raise without a solid argument to back it up.
Another smart approach to tackle this is to ask for a performance-related increase based on your achievement of better outcomes than your previous or expected levels. This will also be perceived positively by your employer because it shows that you are not just asking for more money, but you actually deserve it.
Research Salies in Your Field
Get a clear idea of what your job typically pays, but do not forget that salies vary from one industry to another. Your performance evaluation combined with the research you've done on current industry salaries will determine the fair market value that you deserve. It's really important that you watch your tone when you discuss this issue with your manager; instead of you shouting "You're Underpaying Me!" try to tackle this subject as if it's a career-related discussion in which you're presenting a research paper.
Do not throw a tantrum if your request gets rejected; instead, ask what you can do in the next couple of months in order to make this discussion have a successful exit the next time.
Be a Good Sport
Whatever happens, keep your attitude and conduct professional at all times. Whether you get the raise or not, stand up and smile, shake hands and express your gratitude for your manager's time when the discussion is over. One of the most important rules of career advancement is that you have to be able to live with a NO. Unless you are prepared to leave your job, adjust to the current circumstances until you find a better opportunity.
Do not Quit Just Yet
If you can not get the raise you seek right away, you'll likely find it by switching jobs. This does not mean you should quit right away and start applying randomly for any job you find online. Looking out from the rock-solid base of a current job will always get you more job offers. And when it comes to job satisfaction, one thing is for sure; financial compensation is not the only factor that effects your job contentment, so do not let this minor setback stop you; achieve your goals and try again. A better opportunity will definitely come your way later on, if you really deserve it.
In our culture, money representations a lot; it reflects how successful, smart and powerful we are. Being able to determine your worth at work is a good thing, it will not only help you increase your monetary compensation, but it will also provide you with better self awareness about your role within any company you might join.
If you focus on your passion when choosing a career, you're more likely to select the kind of career path that will lead to the best career salaries. Money should not be your only goal; you want to be known as the best in your field. Make that the goal and the money will come along the way. Always remember that the best-paid careers are those that pay off not only in cash, but also in satisfaction and happiness.