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Negotiating pay in the current climate

Negotiating pay in the current climate

While the current financial crisis may present some roadblocks when it comes to bargaining for a pay increase, planning your approach may be the key, writes Maria Reid of IPAWe all know this is…

While the current financial crisis may present some roadblocks when it comes to bargaining for a pay increase, planning your approach may be the key, writes Maria Reid of IPA

We all know this is a difficult time to talk about salary increases with your employer, or to push for a good salary when going for a new role. Does this mean that you should just keep your mouth shut and be thankful with what you've got or are offered?

Realistically - yes. And no! Basically, the things which will secure you a great salary or increase are the same as ever:

1. Outline your key achievements in your current or most recent position clearly - even for a current employer. What are your highest billings, your best deals, the most valuable new clients you have secured?

2. Focus on your tenure with the company. The investment that your company has made in you is valuable to them, as is your knowledge of their processes and your relationships with their clients.

3. Convey your vision for the future of your position and your ideas for making it more profitable and valuable to the company. Demonstrate that you really "own" your role by being passionate about it and your company's success in the market and convey this to your employer with a motivated, positive attitude.

4. Demonstrate that you have mastered your position and are ready for a new challenge. Your employer will see that you need something more in your role which may open the way to renegotiating salary.

5. Do your homework properly. Research comparative salaries by way of industry surveys. Realise, too, that there are people on the market currently willing to do your role for much less than market salary. That way a reasonable compromise will be reached that makes everyone satisfied. Happy negotiating!

 

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