While many of us depend on multiple sources of income to keep up with the rising cost of living make sure that you know what your skills are worth to negotiate the salary you are worth.
Salary is the last thing many of us want to discuss. With high levels of unemployment, a job opportunity seems like such a luxury that most young people, especially women will take any offer given to them instead of justifying their worth. If you find yourself unfulfilled at work because of the salary you earn its time to do your homework and put your negotiating skills on the table.
- Know your worth: It’s important to know the market value of your job description. If you walk into a job interview without having a figure to negotiate with the recruiter will pay you less. Sites such as payscale.co.za will help you gauge the value of your job title. If you are already employed negotiating your salary during your performance review is very important. Have backup, such as your job performance or accomplishment that justifies why you are worth a salary increase.
- Look at the overall package: Depending on the size of the company, the monetary value of your remuneration package is just one aspect of the package. Do they offer certain insurance packages such as medical aid or pension fund? Does it offer other benefits such as education financial aid? Weigh whether the monetary increase you want justifies the rest of your package.
- What are you bringing to the table? Businesses are about making money and having employees who bring value to it. When you negotiate your pay be armed with research and the ability to demonstrate why the company still needs you based on the value you are bringing to it.
- Be flexible: If money is out of the question are you prepared to negotiate other benefits such as flexible working hours, a position title or extra leave days?
- Be prepared: Lastly be prepared for the fact that your request might not be met immediately due for various reason but follow up once in a while. If you feel you have reached a corporate or financial ceiling where you are working start considering an exit plan and chase for bigger opportunities.
Have you negotiated the salary you are earning? If not what held you back?