How To Negotiate Better Job Payment
Needless to say, the last few years have been a challenging time for the world employment wise.
Many people have lost work, and if you’ve managed to hang on to your job throughout the pandemic, you probably realize how fortunate you are.
(In fact, according to the World Economic Forum, over 114 million people lost their jobs in 2020, and the recovery for many has been slow.)
That being said, just because you’ve managed to hang on to your job during these turbulent years, doesn’t mean you should put up with a paycheck that’s less than your worth. As things get more expensive year over year, it’s important that your job payment can keep up.
But as most of us know, the thought of negotiating with your employer for higher pay can feel frightening.
That’s why today Infinity Staffing wants to walk you through a few steps that will help you negotiate your way to better job payment.
(And, if you are ready for a career change, check out our recent post on high demand, best paying jobs of the future!)
Determine What Kind Of Compensation You Need
Depending on your unique circumstances, you may deserve a higher paycheck…or you may need one to continue paying your bills.
Whether your pay raise is a desire or a true need will affect your positioning and how much of a raise you ask for.
This is where you need to ask yourself some tough questions, like what’s the bare minimum that you’d be satisfied with, what’s the amount you believe your work is actually worth, and are you willing to walk away if your pay raise needs aren’t met?
Taking the time to evaluate the situation for multiple outcome options is an important part of the process that will help guide your decisions.
Create A “Brag Sheet”
In order to make a case for a solid pay raise, it’s a good idea to list out your accomplishments and how you’ve contributed to the company so far. Whether you actually share this sheet with your employer or use it for your own reference is up to you, but taking the time to review your contributions will help build your case…and your confidence.
Include things here like time at the company, how you’ve gone above and beyond what’s been asked of you, any successful projects you’ve contributed to or revenue you’ve helped the business accrue.
You can also brag on suggestions you’ve had that have been implemented or reference how your department operated when you first started vs. how it’s operating now.
Don’t be afraid to pat yourself on the back for things like punctuality, great communication skills, and colleague rapport.
Think About Where You Can Further Contribute
If you enjoy your company, have extra bandwidth, and are asking for a large increase in job payment, consider other ways you are willing to pitch in and make sure your employer knows that you’re willing to both take…and give.
Note any gaps you see in the business and highlight how you can help further if the compensation is appropriate to your duties.
Prepare Your Presentation
While in some cases an actual presentation may be necessary, in many cases this conversation will likely be a simple meeting or call with your employer. But that doesn’t mean you shouldn’t practice your script. Now that you know the raise range you’re aiming for, be sure to start your meeting off with the contributions you’ve made to your company.
After highlighting your hard work, discuss other ways you feel you’re willing to contribute (if any) OR make a case for how you’ve really handled multiple roles and positions above and beyond what you’ve been called to do.
End by letting your employer know you are committed to the company, but that you believe you’re deserving of a higher salary. Then state your range.
Practice this script a few times and think about looping in a couple of friends or family members to listen in so you can better overcome any potential jitters.
Make The Pitch
It’s important to time your pitch right, so make sure you have dedicated space and attention from your employer, and don’t spring the conversation on them. Ask when you can schedule a meeting to discuss your performance, and try to avoid days that are typically busy or hectic.
Once you have your boss’s full attention, make the pitch you practiced, and don’t be afraid to wait in silence once you’ve made your case. Nerves can sometimes cause even the most valued employees to backpedal or agree to terms they aren’t happy with.
It’s also a great idea to keep the conversation open and give your employer time to evaluate, so feel free to end with, “I’d be happy to give you some time to consider. Maybe we can touch base next week on this?”
If Your Boss Says No…
Decide If You’re Willing To Compromise
Do you need more pay or would you be as happy with more vacation time, an assistant, or other extended job benefits? If you get a no, now is the time to come up with a counter proposal of sorts – monetary or otherwise.
Ask What It Will Take To Get A Raise
If that raise is what you’re after, candidly ask your boss what it will take to get that job payment. If there’s something in your power, you’ll find out. If your company caps raises or is struggling financially, that’s information that you’ll need to know.
Be Prepared To Walk Away
If you need a raise, or know that your value makes you worthy of one, don’t be afraid to walk away. Let your boss know you understand their position, brush up your resume, and start the hunt for “high paying jobs near me.”
If you’re looking for “high paying jobs near me” Infinity Staffing can help. Contact us today and we’d be happy to help you land one of our best paying jobs.