Successful salary negotiations
Targeted preparation is worth its weight in gold!
- Define your goals and set your priorities! How would your ideal goal look like, what are acceptable compromises and what is not acceptable by any means?
- What do you have to offer? Think about why your employer should pay you more money.
- Research salaries in comparable positions in other companies, the objective pre-requisites of the company and fringe benefits.
- During the conversation, you must bring your arguments forward fluently. Memorise them at home.
- Prepare yourself for the counter-arguments. Practice at home to realise mistakes in your argumentation
- Lay an alternative strategy
- Choose the right timing
A few ground rules
- Always stay business like!
- Compare with colleagues and bringing up personal financial situations is not useful when reasoning
- No threats or blackmail
- Aim for a WIN-WIN solution
Negotiation can be learnt!
- Appear self-confident! You are not a pleader, but rather someone who wants a better compensation for the work done
- Name numbers and facts as arguments
- Stay open for compromise despite your pursuit
- Do not ambush your counter partner with sentences such as »I want more pay etc.« proceed diplomatically. Indicate that you would like to take over more responsibility, and then the discussion over money will come up automatically.
How to deal with a NO
- Discuss goals that are a pre-requisite for a pay rise
- Arrange a new appointment
- Note the arguments of your counter part
- Utilise your experiences and feedback positively
- Put the results in writing! Action a memo, by which a certain amount of bindingness is measured
- Use the feedback received sensibly
- Work actively towards your coming pay rise
Popular counterarguments of employers
»Do you really think that your performance justifies such a high pay rise?«
They try to unsettle you-ask concretely what was not okay with your performance lately.
»Other people have asked for more money. Why should we pay you more?«
Ignore the provocation, argument businesslike and self confident, why you deserve a pay rise.
»A pay rise disturbs the peace in the company.«
Different duties and responsibilities deserve different pay. Point this out to them without dispraising your colleagues.
»There is no room for a pay raise for your position«
Suggest a promotion based on your improved performances and success. Share your perception; give concrete suggestions regarding the area of responsibility that you would like to take over.
»You are getting paid more than is common in this industry/position«
It pays to be prepared, show them numbers and facts.
»You know what the economy is like. Our cash registers are empty.«
Inform yourself about the company’s situation. If you cannot counter with sales figures then answer the following: »good employees are important, especially in bad times, with their help it can go uphill again.« If there is no money, then negotiate extended benefits such as a company car, company mobile, etc.
»You were only here last year.«
Clarify what excellent achievements you have made to justify your pay rise!
»We should move the conversation to next year, and then you can ask again.«
That is a delaying tactic, which you can counter with your achievements. If you encounter too much resistance, then do not be put off for too long. Suggest a new meeting date in two or three months time. In this time, you should improve your preparation and arguments and work towards success.