How to increase your salary that you deserve

Very often, we remain upset about the salary we draw. We also struggle with whether we should bring up a discussion regarding the same with the line manager. Sometimes, even if I believe I am worth more compensation, I don’t have enough courage to engage in a direct discussion with the HR Business partner or compensation specialist, thinking it might be considered negatively. We shouldn’t view it this way; instead, we should not hesitate to have this conversation as it is beneficial both for us and the employer. It contributes to having a highly engaged employee with dedication exceeding 100%, enhancing both employee and organizational productivity.

I vividly recall the day in 2003 when I was interviewed for the role of 'Health & Safety Manager' at Lafarge. At the end of the interview, I was asked about my salary expectations, and I said I would be okay with the company's offer as per their compensation structure. When the offer was made, I found it fell short of the 5k that I expected. The amount I expected was based on hearsay information from some people around me, which was not supported by market data or benchmarks. Unknowingly, by not understanding the potential future of the position offered, I rejected the offer in the name of 'less salary' initially. My mentor then guided me, helping me understand why I should accept the offer even if it falls short of my 'only salary' expectation. Finally, I accepted the offer, received a 3k increase, as I expressed my expectations and learned about the techniques that confirmed my salary increase.

There are definitely techniques of handling this situation through a structured approach and ultimately achieving our goal of receiving higher compensation commensurate with our individual worth. Negotiating for a higher salary can be a delicate but essential process. Here are some ‘Top 10’ practical proven techniques on how to approach the conversation effectively to achieve a 100% success rate:

Researching market salaries is a crucial point to start conversations!

Begin the conversation with researched industry standards and average salaries for your position in your location. Websites such as Glassdoor, PayScale, or other country-specific platforms, including industry reports, can provide valuable insights. Understanding the salary offered by competitors for the same or similar positions is also important for creating a reference point. This information is crucial to initiate the conversation with a substantial amount of authenticity.

Know your value and prepare before you ask for the increase!

Clearly articulate your accomplishments, skills, and the value you bring to the organization. Highlight specific achievements that have positively impacted the team or company. Therefore, it is necessary to prepare thoroughly before expressing your valid expectations to your line manager or HR to ensure a positive impact and outcome.

Choose the Right Time to place your pitch!

Timing is crucial. Ideally, discuss salary during your performance review when your accomplishments are being evaluated. Highlight your remarkable contributions and express your passion, providing evidence of how you invested your efforts to achieve them. If a review isn't imminent, look for a moment when your workload or responsibilities have increased significantly, or when you've been entrusted with a critical project or delivery that management has recognized as a game-changer.

Be confident and positive as you affirm that you will work wonders again!

Approach conversations with confidence and positivity. Express enthusiasm for your role and a desire to continue contributing to the success of the company. Emphasize how you can deliver something unique and innovative. Highlight specific examples that showcase your value to the company and illustrate how your contributions have positively impacted its success.

Practice your pitch as you would rehearse for an interview to secure a job!

Practice your request beforehand. Clearly state why you believe you deserve a higher salary, focusing on your performance, achievements, and market research. This preparation will not only boost your confidence but also ensure a compelling and well-supported case when discussing your salary expectations. This practice is as important as preparing for an interview for a new job with higher salary expectations.

Consider the entire compensation package during the discussion!

Don't solely concentrate on the base salary. Consider other benefits, including health insurance, retirement contributions, bonuses, and additional perks. Negotiation opportunities may also exist in these areas. In today's 'Gig Economy,' it's crucial to consider additional benefits like medical insurance and transportation, which hold direct monetary value if you personally choose to avail yourself of them.

Be flexible and open during this process as it sometimes opens up better opportunities!

Be open to negotiation. Your employer may not be able to meet your salary request entirely, but they may be able to offer additional benefits, bonuses, or future reviews for consideration. Sometimes, you might also receive offers for more lucrative assignments or roles with higher compensation.

Express your commitment by becoming part of the Talent or Critical Resource pool!

Reassure your employer of your commitment to the organization and your dedication to continuing to excel in your role. Discuss your performance record and future potential that substantiates your importance to the organization. Emphasize that fair compensation is a critical factor in your long-term commitment to the company.

Have a specific figure in mind while wrapping up the discussion!

Instead of providing a broad range, suggest a specific figure. This demonstrates that you've done your homework and have a clear understanding of your market value. It also helps HR or line managers work towards a win-win compensation increase proposal that benefits both parties.

Follow up professionally and remain confident about what you deserve!

If your initial request is met with hesitation, inquire about the possibility of revisiting the conversation at a later date. This shows that you are committed to your professional development and open to ongoing discussions. However, always consider the right time to steer this conversation towards achieving a 100% success rate.

Remember to approach the conversation with professionalism and a collaborative mindset, aiming for a win-win outcome.