It’s natural to be nervous about asking for a raise, but it’s also important to know your value. While money isn’t the only factor in a job offer, it is an important one. If you are underpaid compared to your peers and have done good work—and there’s no reason why you wouldn't—you should consider asking for more money when interviewing with another company or when renegotiating contracts with current employers. There are plenty of ways to get into the right mindset before negotiating salary at work, but we've compiled some of the best below:
Research, research, research
This should be an obvious one, but it's important that you learn everything you can about the company before applying. If there's an area of weakness in their business model, or something that might prevent them from succeeding in the long run (like a looming patent lawsuit), this is information you'd want to know before taking a job there. You'll also want to find out what sort of growth they've been experiencing and how much money they're making; if they aren't making as much as other companies in similar positions, chances are that salary won't be high either.
Researching the job itself is also crucial; it will help ensure that it aligns with both your skillset and interests. For example: if someone told me they were hiring for an entry-level position at a digital marketing agency but didn't mention anything about analytics or data science—my two areas of expertise—I wouldn't apply because I wouldn't feel like I could do well at such a role without those skillset requirements being met first (not to mention my salary expectations would likely exceed theirs).
Back up your claim with numbers
If you're looking for a higher salary, it's important to back up your claim with numbers. This can be done by citing statistics from the Bureau of Labor Statistics (BLS) and other sources that show the average salary for your position in your area, or even just listing the salaries of other people who do similar jobs.
For example, if you used to make $50,000 at a previous job but are hoping for $65,000 when you switch companies, use this information to prove that it's reasonable: "Well, according to Salary.com's database on [company], my position averages around $60k nationally." Or try something like this: "I know there are plenty of roles out there paying similar amounts—the CEO at [rival company] makes six figures."
Know what you bring to the table
In the job interview, you'll want to be prepared with a plan for your negotiations. You'll want to know what you bring to the table, who is involved in making decisions about pay, and how much money they make. You also need to be aware of what other jobs are out there paying similar salaries and what compensation packages they come with.
You need all this information so that when it's time for your negotiation, you have an idea of where you stand financially and what kind of package might be reasonable based on the market and the value of your skillset within the organization.
Know when not to bring it up
There are some instances where you shouldn't ask to discuss your pay. If you don't have all the information on the company, it may not be a good idea to bring it up. If your interviewer asks why you left your last job and you don’t know how much that company paid its employees, leave out that part of the story. Similarly, if there is an industry-specific question about what type of salary range people in your field make per year and you don’t know any specific numbers (or even ranges), take a pass on answering that question because it would make it seem like you aren’t prepared for this interview or aren't confident enough in yourself yet—and neither of those things help anyone win over an employer!
If it does come up, be specific about what you're looking for
If the topic does come up, be specific about what you're looking for. Don't ask for too much or too little. And be realistic: if you want a $50K raise and can't provide any proof of your qualifications (no matter how great they may be), it's going to be hard to convince them that they should give it to you.
If possible, try to get some idea of what others in similar roles at similar companies make before asking for more money. You might even find that your salary is already competitive with other people doing the same job—and if so, then there's nothing wrong with sticking with what you have!
Don't put all your eggs in one basket
The best way to ask for a pay raise is by taking the opportunity to negotiate during your job interview. But don't just ask for a pay raise, as that could come off as too aggressive. Instead, ask the hiring manager what you would need to do in order to get promoted and paid more money at your next position with their company. This way you're asking questions and showing interest in improving yourself rather than begging them for something they don't want to give you—and if they offer a higher salary than what we've discussed here, it's easy enough not just say yes but also that you'd like more money!
It might seem silly or unnecessary at first glance; after all, how much difference could one interview really make? But doing this has two benefits: First of all, if things don't work out (and chances are good that sometimes they won't), then at least it wasn't wasted effort because now there's no chance whatsoever of being denied something later down the road! Second of all--and perhaps more importantly--by asking now instead later on down the road when it's too late because then nothing will change except maybe less confidence in yourself overall since nothing changed either way despite trying hard enough so many times already...
It's good to negotiate salary, but don’t do it unless you’re sure you're in a strong position
Make sure to have a compelling case for asking for more money.
Be prepared to answer questions about why you deserve more money.
Be prepared to explain why you are a good candidate for the job.
Be prepared to answer questions about your salary history.
Negotiating a raise is never easy, but it’s an important part of the job search process. With a little preparation and some knowledge of the basics of how to ask for higher pay, you can be well on your way to getting what you want out of life—without compromising who you are or what your priorities are.
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