How To Effectively Negotiate a Salary Raise

1. How to Effectively Negotiate a Salary Raise Being successful in an organization is always important to get a salary raise and proper preparation lets you negotiate the salary. MOS Legal Transcription Company 8596 E. 101st Street, Suite H Tulsa, OK 74133

2. Negotiating salary could be uncomfortable for jobseekers starting out on their career. Any provider of legal transcription service that offers interview transcription for diverse businesses knows that if candidates do not ask for what they deserve, they could end up losing valuable dollars over the course of their career. Interestingly, data collected for PayScale’s Salary Negotiation Guide shows that 28% of those who have never asked for a raise did not do so because they were uncomfortable negotiating salary. However, 75% of those who asked for an increase did see an increase. Though salary is not the most important aspect of a job, a good salary can surely make a difference in an employee’s overall satisfaction and involvement. To handle salary raise negotiation successfully, you must have a comprehensive understanding of your organization’s performance, market conditions, and organizational culture. But once you have proved to be an asset to the organization, you can ask for a raise and the following steps will help you in your negotiation. • Ensure that you are ready to ask for a raise: Consider whether you have been working at your job for more than a year. You should have rendered excellent service and been exceeding expectations. You are qualified to ask for a raise only if you meet the above requirements. • Review and present evidence of your past performance and accomplishments: Your past performance should be evaluated and explained in numbers. Keep track of your achievements on a regular basis. Review your annual goals to keep moving your plans forward. You should be able to convince your employer that you can create and accomplish. That is best achieved by noting down all your accomplishments that will act as proof of your business value. Also, convey your future plans for the projects entrusted to you and how you have thought about the implications and challenges. • Context is the key: The raise you can ask for depends on what others in a similar position are making. So do your homework, find out what others are making, and compare yourself to others before you ask for a raise. Consider your current geographic location, the role you are assigned and the cost of living in your area – all of which will have an impact on your salary. This will help you to know whether your salary matches the title given to you in the company and also know the financial status of the company. Understand the obstacles that may be preventing a possible raise. These may include cost-cutting measures or a recent layoff. Once you have identified such impediments, you can let your employer know that you are aware of such challenges and request them to specify how you could play a role in resolving some of those problems. You should try to convince www.legaltranscriptionservice.com 918-221-7810

3. your employer that giving you a promotion or raise will help advance their business interests. • To get promoted know the language of numbers: Discussing your salary with your superiors can be a personal conversation but make sure not to get too emotional. Take into account all the goals that you achieved throughout your career in this organization and bring clarity to your story. Include objective criteria for past performance with timeframes and milestones for the future. • Attach priority to the company’s needs: Focus on your superior’s objectives to show that you are keen about achieving the company’s goals. When negotiating, your personal financial situation should not be a part of the salary conversation. If you are aiming to get promoted, start with promoting the company and its needs. • Negotiate perks and benefits: Consider other areas you can negotiate such as flexible work hours, stock options, vacation time, or tuition reimbursement. There is also the option to negotiate for the right to telecommute. • Explain why your request is appropriate: You can refer to the company’s norms for increase in salary based on position changes or tenure. Also, mention where your present salary fits in the industry range. • Timing should be appropriate: Consider when your company normally gives pay increases. Some organizations give salary increases only once a year usually after annual performance reviews. • Focus on your listener: Often, when negotiating a raise, you tend to focus on your personal financial situation. However, do not forget to focus on your superior. Convey what you can do to make sure that your boss gets what he or she needs, and how you can help them meet their objectives. • Organize your thoughts: Make sure that all your thoughts are organized so that you can negotiate your salary well. • Talk to recruiters: Pick up calls from recruiters because they know what people with your experience are worth. So make sure that you engage in a conversation about the position’s responsibilities and pay. This helps you to get a salary range. • Never mention personal needs: Do not focus on your personal needs like your healthcare expenses or childcare expenses as it is a common cause for your colleagues also. Focus on your performance and achievements to make a good impression on your boss. • Be willing to walk away: Decide on a walk away point. This indicates a final offer that is so low that you that you have to turn it down. This could be based on financial need, market value, or what you need to feel good about the salary www.legaltranscriptionservice.com 918-221-7810

4. you’re earning. Though walking away is not easy, you must be able to refuse such offers. • Use email when appropriate: Negotiations are done over phone but if you have communicated with a recruiter over phone through email then do not forget to negotiate through email.. If you don’t want to negotiate, then try to introduce as much empathy, pleasant conversation and frankness into your message. • Be positive and do not be pushy: Negotiation can be a nightmare but you should keep the conversation active and positive. • Never make threats:Make sure to keep the conversation positive and don’t threaten to leave the job if you do not get the raise. When requesting a raise, it is important that you never adopt a threatening attitude or a “take-it-or-leave-it” attitude. Treat the negotiation as a conversation wherein you are interested in hearing about your manager’s problems so you can solve them. Your focus must be on presenting yourself as a solution to the challenges the company is facing and may face in the future. Such a stance will persuade your boss to understand the value of giving you a raise. Being successful in an organization is always important to get a salary raise and proper preparation lets you negotiate the salary. Your ability to convey that value in a way that looks to new results and a matching new salary is the key to your success. www.legaltranscriptionservice.com 918-221-7810