How to Discuss Salary Increases

There are many forms of corporate gratitude for its employees. These things can be done with promotions or rewards for employees who do a good job. While this is considered positive, the reality is that many employees feel that there is nothing better than a raise.

Therefore, it is only natural that at one time employees will ask for a raise. Not only for employees, salary increases are very beneficial for the company. Because employees will be more productive and motivated to provide even better results.

How to Ask for a Salary Increase

Not everyone is adept at discussing raises. Just like the bargaining process, special skills are needed to conduct discussions. Therefore, being a good negotiator requires a very different mindset.

When discussing salary, never accept the first salary amount that is proposed. Apart from that, there are other things that you need to prepare. For more, here are some tips for what you can do when discussing a raise.

1. Research

Just because your expected salary covers expenses doesn't mean it's the market average. Therefore, before negotiating a salary, it is very important to know the value of your role. Make sure you calculate the average salary based on sector, location and work experience.

You can do your research by going online or even talking to people you know. This person could be someone who is already in your work industry or a recruitment consultant who can provide input. By doing research, you are sure to be more confident and ready to discuss salary.

2. Know your own expertise

Your expertise for the company sometimes goes beyond the position you are applying for. For example, if you are applying for the position of marketing director with five years of experience. This means that there is a certain salary value for positions with that range of experience.

If you have entrepreneurial experience and skills, search engine optimization (SEO), and social media marketing, you have extra value for the company. Your skills will also be more valuable if you find out that the company doesn't have employees with those skills.

Therefore, even if the job titles are the same, the differences in job descriptions can be stark. Here, the skills you have developed over the years allow employers to be more open with salary discussions.

3. Ignore previous salary

One of the mistakes that many job candidates make is setting salary at the last salary value. During work, the skills you have will increase so using the last salary value as a benchmark is not a good thing. Therefore, take a look at your objective value to the company and compare it to industry standards earned by others.

When applying for a job, it's not uncommon for companies to ask you to submit your final payslip. If you experience this, it's best to ignore the request or save it until a later salary discussion. Because disclosing the amount of salary even before the interview will only put you at a disadvantage.

4. Give a specific number

According to research conducted by Columbia University, United States in the Journal of Experimental Social Psychology, give specific numbers when negotiating salary, not round. For example, you could say a value of $7,436,500 instead of $7,500.

By giving more specific numbers, you're giving the impression that you've done more in-depth research. The discussion will also be more persuasive if you provide data or other evidence to support your request.

5. Think about things outside of your salary

In addition to the basic salary, there are many benefits that might be obtained. Therefore, think about things beyond basic compensation. For example, take a look at the perks you get. If the salary offered is lower than you expected, but the benefits are good, then you may want to consider the offer.

Pay attention to the benefits offered by the company such as health benefits, flexible working hours, additional leave, training, and other things. Another way you can do this is by knowing the key performance indicators (KPI) that must be achieved over the next six months. Also ask the hiring manager or if the salary can be reviewed in the following months.

In the end, there are no guarantees in salary discussions. Because it's not only the nominal salary that is expected, there are many considerations that determine a salary increase. Some of them are the ability of employees, HRD point of view, as well as other factors such as budget and competition among other employees.

However, if you don't ask, chances are you won't get a raise. Meanwhile, if you ask, there is a possibility that the salary received will increase. Therefore, do some research, and start having discussions.