Salary Negotiating 101: Secret #3
No firm offer? Making a win out of a loss
If you're about to emerge from your bargaining session without a firm offer of a raise, strive for a conditional agreement.
You might ask whether you can negotiate salary again if you reduce staff absenteeism by 10%, for example, or increase the number of orders processed in your department by one-third.
Put together a list of projects you would like to undertake, along with profit or cost-saving projections, and present them when you negotiate salary again. This puts your request within the context of increased profits and lowered costs—boosting chances that your boss will stretch company norms to get you the most money possible.
Salary Negotiating 101: Secret #4
Check out salary comparisons
Make sure to do your research on salary comparisons.
Tip: Don't overlook informal information sources. Job advertisements sometimes indicate salaries, and while others in your professional network may be reluctant to tell you their earnings, they might share their salary scales.
Find out which salary survey sites Business Management Daily rates among the best in Salary Negotiating 101.
Salary Negotiating 101: Secret #5
How to get past the no-raise barrier: Counter 4 common objections
When reaching for that elusive raise, look upon the first "No" as Round 1. Then step back and explore other raise-negotiating methods.
In particular, learn how to counter the four most common objections you're likely to hear from a boss:
Objection 1: "A raise would put you above your job category maximum."
Advice: Point to your industry's pay scale. Don't compare your pay to that of others in your company. Cite salaries for comparable positions elsewhere.
Objection 2: "You already earn more than anyone else in the department."
Advice: Here's how you should frame your reply: "I may be making more than the rest, but don't you agree that if I work harder and accomplish more, I should be paid more?"
Objection 3: "The company has had a bad year."
Advice: Ask when things are expected to turn around, and if they do, what impact that will have on salaries. Faced with an ironclad ban, ask about rewards in other forms—for example, more vacation time or flexible hours.
Objection 4: "I'd like to give you more money, but odds are a raise won’t be approved."
Advice: Ask your boss to outline specifically what you have to do to get a bigger raise. Then establish a timetable for evaluation.