Unfortunately, many people hold stable jobs but are still unable to make ends meet. And this could be because you are simply not getting paid enough for your accomplishments.
That said, the idea of being underpaid is not restricted to those who are struggling with finances. No matter where you are in your career journey, you might be in a place where you are not making as much as you could or should be making.
Whether you are in a job search and about to negotiate salary for your new or your current position, here are some tips that can help you get what you are worth as an employee.
Have the Data Ready
Before you can ask for better pay, you will need to know how much you should be receiving. It will work in your favor if you have some market data lined up to back you up in your negotiation. To do this, you can engage in a quick search online. There are several sites with career resources that offer you the salary range for specific positions.
You can also look for job posts that mention your current role and experiences and check if they list salaries. This will help you find out what the industry average is.
That said, the market range shouldn’t be your only consideration. You might be offering a lot more based on your work experience, expertise in the industry, contacts, and any other key skills.
Prepare Your Argument
Once you know you have done the research, you should also prepare the case for your desired compensation. Most employers already have a specific budget they have allocated for a position. However, others might also be willing to make adjustments if the applicant can bring more value to the company.
As such, your resume must resonate with who you are. To accomplish this, you can invest in your career wisely. For instance, work with a top Linkedin resume service to make sure that your CV is professional and communicates your best qualities. On top of this, you should also prepare a bit on what you are going to discuss when the topic of remuneration comes up during an interview.
The argument might differ slightly if you are already employed and seeking a raise. In that case, you can put forward what skills and qualification you have and how you have been using them to handle your tasks. If you can quantify the results of your performance using percentages or numbers, it will be even better.
Answer the “Salary” Question
It is not uncommon for recruiters to ask you what you were paid in your previous position.
However, there is no need for you to answer this. In fact, some states in the US even prohibit such questions during the interview. Even if that isn’t the case, you need not tell the recruiter.
If they insist, you can be truthful, but this is where you should put forward the case of why you expect a higher salary and what you can bring to the table. It doesn’t matter whether you are looking for the best jobs for high schoolers; if you have sufficient experience that can be valuable to your employer, you should not hesitate to ask for the money you deserve.
Another question is how much salary you are expecting. In this case, as well, you do not have to give a precise figure. Instead, you can provide a range, but remember that most employers will likely offer you a package at the lower end.
You can also answer this with another question – “How much do you expect to pay for this role?”
Finally, if you have to put up a clear figure, always start with the top of the salary range you are expecting. It is likely that the hiring manager or employer will want to negotiate, and this way, the counteroffer they make would be within a reasonable amount of what you might consider.
Negotiate for Benefits and Perks
You can also consider negotiating for perks and benefits, if not in terms of salary. For instance, your employer can offer you a better package for health insurance, paid vacations, sick leaves, or even flexible work terms. In some cases, you can even ask the employer to pay for your accommodation.
In other words, you should consider the entire compensation package rather than the salary figure alone. There are several ways to receive more in terms of a sign-on bonus, relocation compensation, or any other benefits that can make up for the difference.
Have a Back-Up Plan
As you can imagine, a salary negotiation might not always go the way you want it to. Sometimes, the company does not have enough budget or any wiggle room.
And if you really like the position you are taking and do not want to let go of the offer, you need to think of alternatives. For instance, you can accept the initial offer for a certain period of time and negotiate an increment based on a performance review. If they like your performance, you can put in a request for increasing the compensation.
If no such plans work out, you will need to reconsider whether you want to take up the offer or look for another position.
The Bottom Line
As you can guess, the main goal is to demonstrate to the employer that you are a valuable asset to the organization. If you feel devalued, sometimes you might have to take a risk. The aim is not to let an opportunity pass without asking for what you deserve.
