There are various times throughout your employment journey when it’s acceptable to seek to negotiate a pay raise. The two most common situations include during the hiring process and during a performance review process. But it’s also helpful to be aware of situations when you have the edge in a potential salary negotiation — and in which situation when you don’t.
Here are four situations that can help you determine when, and when not, negotiate an increase in wages.
Know When and How to Negotiate a Salary
When to Negotiate
1- When you’ve made significant strides in professional development. Maybe you’ve achieved a certification or acquired a skill that is beneficial to your employer. When you’re able to offer a service or trade that can help your company meet a business goal, your value as an employee increases and asking for a raise is definitely sensible.
2- When you’re willing to meet a need. Whether your manager is facing some sort of crisis or staffing need, such as a team member to transfer to a different location or switch to an odd shift, asking for additional compensation is fair game. This is especially true when you step up to meet a critical need that may impact your take home pay.
When Not To Negotiate
1- If there are no mutual interests. While you may need a pay raise, and even feel deserving of one, your employer needs to have a sense of justification. May it’s an excellent performance evaluation or some type of professional development that you’ve completed. But if you bring nothing new to the table, now might not be the time to ask for anew.
2- When the business is experiencing some type of financial crisis. Asking for an increase in salary during a time when a business is facing some sort of struggle, you may appear out of touch and not likely to do what it takes to weather the uncertainly.
Are You Ready to Negotiate a Salary?
Whether you’re ready to ask the boss for a raise or preparing to enter the job market and want to know how you can earn top dollar, ICR is here to help.
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