How to get good salary increase
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This document provides tips for getting a salary increase. It advises researching market salaries to understand what your job is worth. It also recommends continuously upgrading skills as companies demand new skills. The document instructs to make a list of accomplishments to demonstrate value added. When asking for a raise, focus on contributions rather than personal needs, keep emotions in check, and be prepared to consider new opportunities if negotiations do not succeed.
How to get good salary increase
- 1. HOW TO GET A GOOD SALARY INCREASE Sukanya Patwardhan Sukanya.patwardhan@gmail.com 98500-37928 20th January 2013
- 2. KNOW YOUR WORTH 20-01-2013 Go to google.com and type “Pay Scale Salary Calculator India” Sukanya Patwardhan This is a India specific link where you put your job title, city/state etc. and check the market rate for your job. This general information will help you determine what to expect in your field. Best is to check with others on the market rates. However never ask people about their personal income number Instead ask someone who is regularly involved in hiring process about the current market trends. Be careful about cross country comparison. 2
- 3. UPGRADE YOUR SKILLS Keep an eye on the relevant skills and consistently upgrade your skills 20-01-2013 Assess your current skills and recognise what you need to do, to advance in your career. Sukanya Patwardhan Companies are demanding fresh faces, sharp skills, fast thinkers and a variety of skills that will help them move quickly into the ever changing global economy. Some industries require constant upgradations through certifications. If your industry does not require that join professional organisations and attend relevant conferences. Keep a watch on relevant websites, trade magazines 3 on what is latest.
- 4. THINK YOU DESERVE A RAISE? ASK FOR IT. 20-01-2013 Make sure you really deserve a raise. Just showing up for work and doing what is required does not qualify you for a raise. Employers know Sukanya Patwardhan that nobody is indispensable. Be clear about what you give to your company and the unique role you play. What are your special strengths? What expertise do you possess that makes you unique? How do you put your strengths to work? Carefully assess all these points to be sure that you deserve a raise. 4
- 5. MAKE A LIST OF ACCOMPLISHMENTS 20-01-2013 Many people think that their employer knows what they achieved in the last year, but usually they do not, at least not to the extent you think Sukanya Patwardhan they know. Keep a weekly journal on your goals and accomplishments. This will help you for the next appraisal and also for the job search.(If needed) Are there any work projects where you excelled? Did you take any classes on your time to improve your work performance? Make a list … 5
- 6. CHECK COMPANY POLICY 20-01-2013 Be sure of your company policy and its financial performance. Sukanya Patwardhan May be it is better to make your case before the appraisal cycle, as some companies make raise decisions before that. Have a reasonable figure in your mind. No matter what, no employer will give you a raise greater than the market rate. Negotiate perks as well depending on the phase of your life ( having a small child or having very old parents etc) 6
- 7. DON’T GET PERSONAL 20-01-2013 Do not discuss your personal reasons regarding why you need a raise ( want to buy a house etc) Sukanya Patwardhan Focus on what value you brought to the company Your boss does not care about your personal needs, instead cares about how you will make him/her win through your worth. 7
- 8. CHECK YOUR ATTITUDE 20-01-2013 Never go into a meeting with a attitude “I deserve this” Sukanya Patwardhan Never indicate or say that “I work harder than everyone else” or “ How come he/she got a raise” Keep your emotions in check. Tantrums, Tears and Ultimatums make you look unprofessional. Aim for a friendly but professional tone and keep the goal in sight all the time. In the event your boss acts hostile, maintain a calm, cordial and detached air. 8
- 9. READY TO WALK AWAY? THEN WHAT? 20-01-2013 Keep your options open if your negotiations fail. Don’t act in a hurry, instead say that you Sukanya Patwardhan understand that it is not possible now. Ask what you need to do to merit an increase. Be sure that your communication bridge with your boss is healthy. If your boss acts aggressively, be prepared to leave. If you decide to quit, make sure you are financially, psychologically and logistically prepared to do so and that the timing is right. 9
- 10. A NEW JOB OFFER … 20-01-2013 If you have a new job offer in hand, when it comes to negotiation, go about it in a courteous, direct and an honest manner. Sukanya Patwardhan Determine the realistic number in advance and wait for the talks. Don’t be the first one to mention the salary number in the job interview, let the employer introduce the number first. Talk about your worth by way of your previous contributions. You may have to tell about your salary history or use it to justify the desired raise. Be prepared with facts and figures. 10
- 11. THE NEW JOB OFFER 20-01-2013 Be diplomatic if you were underpaid, as this can become a block and make you look inadequate to the next employer. Sukanya Patwardhan Quote a salary range in your company and say that you are looking for that salary range. Employers eliminate you because your salary was too low, hence avoid talking about salary right at the beginning. Talking about money is always stressful, but being prepared in advance and believing in your worth are keys to presenting your case. 11
- 12. REFERENCES Flavia Gonsalves Ger – New Woman – October 2008 20-01-2013 Why Women Earn Less:How to make what is you’re really worth – Mikeman Valretta Big Sister’s Guide to the World of Work: The Inside Rules Sukanya Patwardhan Every Working Girl Must know – Marcelle DiFalco and Jocelyn Greenkey Herz What Color is Your Parachute? – Richard Bolles Secrets of Winning at Office Politics – Dr Marie G McIntyre How to squeeze Every Penny from Your Boss – Norman Liberman CareerBuilder.com Job offer! A How to Negotiation Guide – Maryanne L. Wegerbaue Negotiating your Salary : how to make $1,000 a minute – Jack Chapman 12 60 Seconds & you are Hired – Robin Ryan