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Talking about money is difficult and asking your boss to make it more Even harder. But once you take the time to explore your market value and unravel your compensation goals, you are most likely ready to start Negotiations on raising wages.
No matter how much you prepared, however, the first conversation with your boss about your payment or benefits is likely not to end with a sealed transaction, including everything you hope, says Catherine Valentin, CEO of WorthMoregies, which helped the hundreds of customers successfully agree on their compensation.
It is more likely that it will take several weeks of meetings, observations and documentation, she says.
The time you need to negotiate your compensation should not worry you, Valentin says. “Some people think about this as this disposable conversation I have to have, and it’s as tense as to buy a house,” she says. “It’s not a home purchase.”
Most likely, negotiations are a continuing process that occurs several times during your career. And like any skill, you can recover over time.
That’s what Valentine advises, referring to you can have patience – and get what you are looking for – during the negotiating process.
Get terms correctly
Your annual review may feel natural time to ask for an increase, but so far most companies have already determined their annual budget, Valentin says.
Starting the conversation in the middle of the year, it may be much more effective, because your boss can take into account the compensation changes for the next year. In addition, your annual review may feel more than a holiday if it does not include a serious conversation about earnings.
Don’t miss out: Final guide for talks on higher salaries
Choosing the right timing for negotiations is not only a company calendar, says Valentin. It is also about opening a dialogue at a time when your boss is likely to be open and receptive – not when they deal with the crisis of the house or when the company’s disaster is in full swing.
By accepting new duties or reaching a major victory company, set up a meeting how you would organize any other registration with your head, says Valentin. Do not forget to clarify in advance what you would like to discuss your compensation package. And before sitting down, double check that they are still in good space to start the conversation, she says.
Get ready for the long move
In the first meeting, which has agreed to increase or other changes in your compensation, your goal should simply “set yourself up”, says Valentin – not reaching an agreement.
Once you started the initial conversation about the target salary or any other aspects of your compensation you would like to improve, your boss will most likely tell you that at least they need to consult your higher conditions or think about changes before concluding any major agreements. This does not mean that you have failed, says Valentin – it just means it’s time to show patience and get ready for the following.
Before you get out of the meeting, make sure you fixed the time for the second to attract you both accountable, says Valentin.
Then, in the next email, confirm the terms for the second discussion and attach your notes from the first, so the lack of documentation does not delay the process even more, she says.
Ultimately, successful negotiations are joint, so you need to be patient and the other batch is crunching with numbers and considering viable options, Valentin says.
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