Whether it is negotiating a salary with a would-be employer or asking your current boss for a hike in your salary, talking about money is awkward, but that does not mean it is not important.
Money is linked to our self-esteem and worth. It is like putting a price-tag on your value. When you want more, you are actually telling them you are worth more and acceptance or denial of your request will make the mercury in your esteem barometer rise or fall.
Most people do not take refusal very easily, as they feel that a snub or denial is telling them, no, you are not worth that much. So how do you phrase your request? What should your reaction be to a denial of your request?
In this write-up I will discuss two typical scenarios, one asking for a raise with an existing boss and the other for negotiating a starting salary with a potential employer.
Asking Your Present Boss For An Increase In Salary
When asking your present boss for a raise, don’t make it sound like a meek bleated request. Ask like you deserve it and that you have made an assessment of your work and feel that it merited extra compensation. Say something like, “My contributions to the success of the company, I find, are commendable and I was further encouraged when you found cause to appreciate my work. I think I merit an increase in my salary and would like to discuss it with you.”
The message that should go across is that you have done your homework and know your significance and worth and are putting a monetary value on it.
This bold straightforward approach puts your boss on alert that you have assessed you contributions to the company and that you are not merely asking for a raise but want money for what you are doing. By seeking his time to discuss it, you are actually giving him time to mull over your demand and putting him in a position from which he will find it hard to refuse.
What If Your Request Is Turned-Down
In spite of all your efforts, you may find that your request is turned down. Before you treat this as a huge personal disaster and your self-esteem goes plummeting, find out whether the boss was unwilling or unable and helpless to accede to your request.
There could be temporary moratorium on raises or the company could be going through a bad financial phase. Instead of jumping to conclusions and saying drastic statements like,” I guess, it’s time to shift allegiance to people, who are more appreciative of my worth and caliber.” Just accept it and ask the boss, “I need that salary, boss, what more do you think I must do to earn it. I too want to be counted amongst those individuals who contribute the most to the company”
Negotiating a Higher Salary with a New Employer
Negotiating a higher salary with an employer–to-be, is a lot more tricky and delicate. It could even be risky, for it could cost you a hard earned job. But the fact that they’ve selected you over the many candidates, who applied for the job, means that even they will value your worth and will not want to lose out on an individual who has come out trumps through an intricate and many-sided hiring process.
Make your request constructive and constructive. Start by saying that you have great admiration for the company and are really, really looking forward to doing your best for the company.
Reiterate, what you must have already said at the meeting, that you feel fortunate that you have the requisite skills, competence and experience to meet the demands of your work with efficiency and success.
Don’t forget to mention that the management and the workforce has further emboldened you that these are the people you would like to work with and sure that you will get along well with them.
Then subtly add that you would love to come on board, but would appreciate very much if they could hike the salary a little, as relocation from your current job, would not be financially feasible otherwise.
What If Your Request Is Turned-Down
You have two choices in front of you. You can try calling the employers bluff and say that the current salary does not permit you to accept the job and that very reluctantly you would have to decline the offer. This could lead to two consequences – they could increase your salary or not budge and stand firm on their initial offer.
However, if you think the job is not something you would like to lose then don’t push the matter further. Your work will speak for itself and there will be many future occasions that the management will see eye-to-eye with you and increase your salary.
However, don’t take the refusal silently or without response. Ask your prospective employer, “If down the next few months, I can show you what I am capable of, will you reconsider my case for an increment in pay?”