Whether you're negotiating a pay raise or a salary for a new job, money is never an easy topic. Even more difficult is approaching your boss for a raise or starting salary discussions in a rough economy when companies are slashing budgets and pinching pennies.
HotJobs recently published an article: 7 tips for Negotiating Your Salary in a Troubled Economy. Here are the 7 tips:
- Create a "mission or purpose" before entering the conversation
- Track your success
- Know your value market
- Consider where you stand with your manager
- Show respect
- Leave the script at home
- Think long-term
To see the full article, click here
If you're asking for a raise, pay attention to #2. Be prepared to demonstrate your goal performance and on-the-job accomplishments. It's your best bargaining tool.
From an employer's perspective, a manager wants to know if a staff member is asking for more money, he can back it up with evidence of accomplished goals and continuous improvement. Don't expect your manager to be tracking it for you. "I deserve more because my expenses are rising" or because "I've been here for a year" is completely irrelevant, yet so many people take this approach.
Simply put: The outcome is much more likely to be favorable if you make a case for yourself.
For new job salary discussions, it's most important to know your market value, especially if you've been working with the same company for a long time. Check out sites like Glassdoor.com, Salary.com, or Payscale.com to get a general idea (but remember these aren't always completely accurate) or ask a recruiter. PR Week publishes an annual salary report (subscription only) that may be helpful.
What's your advice?