Do you feel like your compensation package fails to reflect the value that you bring to your company? If so, it’s time to renegotiate your salary. You are unlikely to sway your boss by simply expounding on the various reasons why you need more money, however. You’ve got to prepare a convincing argument that takes your employer’s perspective into consideration. Career coach Dr. Grace Lee offers five tips to secure a pay increase. Her video offers no-nonsense advice that you can apply today.
Don’t dwell on the reasons you require more money. Instead, focus on the value you bring to your company.
You might think you can bolster your argument for a higher salary by talking about how many kids you have, how inflation is diminishing your purchasing power or how many bills you have to pay. Though germane to you, these arguments are irrelevant to your company.
The company you work for has many goals. It aims to be productive, profitable and competitive so it can continue to exist into the future. Thus, your best bet for securing a raise is to give specific examples of ways you helped the company reach its goals. Did you cut costs? Did your work contribute to higher profits? Did you improve efficiency? Have proof of your accomplishments at the ready. Promote your knowledge and skills. Wages are an outlay for the company. Prepare to illustrate ...
Dr. Grace Lee is a career coach, business consultant, public speaker and neuroscientist. She hosts the podcast Career Revisionist with Dr. Grace Lee.
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