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How to Negotiate a Higher Salary

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The editors at Grad School Hub decided to research the topic of:

How To Negotiate A Higher Salary

These days it seems as if everyone could use a raise in salary with the rising cost of living, but the majority of people do not know how to negotiate higher pay.

YOU ARE NOT ALONE


- 39% of Americans report feeling anxious about negotiating a raise
- Feel comfortable negotiating a raise:
--26% women
--40% men
- Actually negotiate a starting salary:
--7% women
--57% men

LET'S TALK MONEY

PSYCHE OF SALARY


- Companies rarely offer pay increases simply 'because' it's up to YOU to ask.
- Dream big: it's a common mistake to undervalue your role when negotiating. Aim for something thrilling.

STAND OUT AT WORK


- Accept the challenge.
- Speak up and be heard.
- Volunteer for opportunities.
- Capitalize on your efforts.

TRACK YOUR WORTH


- From the day you start:
- Maintain a Personal Achievement doc.
- Set goals.
- Note: projects, awards, revenue figures, successful project roles.

PLAN YOUR APPROACH


- Know your job description and research your company's compensation policies.
- Evaluate yourself; understand your own strengths and weaknesses.
- Consider your peers - get online and see what you should be getting paid.

NOT A PITY PARTY


- This is not the time to complain about family, funds, or life issues.
- Deserve your raise through focusing on your unique assets.

TIMING IS EVERYTHING


- Don't blindside your boss.
- Time a meeting appropriately with your company's review process.

SHOWCASE YOUR WORK


- Don't simply rely on your words, or abstract figures.
- Provide visuals in a presentation of your successes.
- Don't expect your supervisor to have your every move memorized.

TRENDS FOR 2013


- In 2013, the average American can expect their salary to be raised by 3.0%, compared to 2012 where the average salary only increased by 2.7%
- Energy employees (Oil, gas and mining) will recieve the biggest pay bumps at 3.9%
- Educators and gov. employees will get the smallest pay bump at 2.1%

SOURCES


- http://www.mybudget360.com/how-much-do-americans-earn-what-is-the-average-us-income/
- http://www.nbcnews.com/business/3-percent-pay-raise-new-normal-2013-1C7103235
- https://www.udemy.com/blog/how-to-negotiate-a-raise/
- http://capricorn.bc.edu/agingandwork/database/browse/facts/fact_record/5670/all


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