Updated June 20, 2023
Definition of Salary Raise Expectations
An employee’s salary raise expectations refer to their expectation or hope for an increase in their current salary or compensation package. It is expected that their employer will pay them more based on their performance, contributions, and experience. Expectations for salary increases are frequently discussed during performance evaluations or salary negotiations. These expectations may be influenced by a number of factors, such as industry standards, the employee’s job responsibilities, the cost of living, and the company’s financial performance. Higher salary expectations can vary depending on the individual, job position, and current economic conditions.
However, quite often, we sell ourselves short and ignore our salary expectations. But the truth is people who negotiate salaries are the ones who value their work and themselves. In this article, we are going to learn about a few salary negotiation tips.
Salary Raise Negotiation Tips
1. Be open and willing
The best part about addressing your salary raise expectations is that you value yourself as much as getting the job. When you’re in a situation where either has to be chosen, please choose yourself. To start the process, it’s always wise to be open to the salary raise negotiation.
All interviewees are asked – “What’s your expectation regarding salary level?”
Most of them answer – “As company policy.”
Then – “The end!”
Congratulations! You’ve successfully sold yourself short. Now the company has all the right to tweak your salary and pay you much less than you deserve.
What if you change the spirit of the conversation in the following manner?
“What’s your expectation?” (Recruiter)
“I’m open to the salary raise negotiation.” (Candidate)
Once you say that you’re open to salary raise negotiation, you’re in charge. Once you’re in control, you can talk to them about your salary raise expectations, and if both parties agree, you can close the deal.
2. Ask for the range of budget
Recruiters for jobs use different tricks to stop you from negotiating. They don’t do it with any evil purpose. Their motive is to get the best talent at a minimum cost. So, if you don’t negotiate, you will be sold out for the minimum cost of the company. One of the tricks they use is asking for the exact figure. Most candidates who need to learn how to negotiate or need information about what this position should cost the company mention a figure that is usually less than they deserve. And recruiters agree and jot down.
A better way to handle this salary raise expectations question is to ask another question – “What would be the range of budget you’ve allocated for this position?”
Now, recruiters cannot step back and tell you the range. If you feel that the highest point of the range is suitable for you, then say – “(The amount) would be good for me!” For the following interviews, try this tactic. It’s advantageous and puts the recruiter in their own trap.
3. Know the best pay for the position
Many recruiters and companies mention the salary “per industry standards.” But this is a vague statement. When companies post that on job hunting sites, they know well in their heart how much they can pay, and it’s sometimes different from the industry standards. They do that to attract more interviewees and to fetch more conversions. But that’s not always best for your concern about salary raise expectations.
What would you do then?
You would find the best salary level according to the market you’re in for the same position.
But how do you do that?
There are 3 particular things you can do to gather the information.
- Visit PayScale and find the best salary level for your position in your market.
- Search Naukri.com or any job sites for the salary level offered for your position. You would gain a good idea of what you can expect from your potential employer.
- Talk to people in the same industry and ask what they think would be the best salary for efficient professionals like you!
If you do the above, you will at least get an idea about industry standards, and you can negotiate according to your salary raise expectations.
4. Mind your power
Power is essential in salary negotiation. No, it’s not to dominate the opposite party; but to have control over what you want from the negotiation.
How would you get power?
Power depends on two important factors.
The first is value. Do you need to ask yourself which party would get more benefit out of the salary raise negotiation?
And the second part is alternatives. How many alternatives each party has?
So, when you do the salary raise negotiation, ensure that you’re negotiating for the “Best Alternative to a Negotiated Agreement (BATNA)” if you don’t reach an agreement. This term was coined by Fisher & Ury in 1981 in their book “Getting to Yes: Negotiating Agreement Without Giving In.”
You want to avoid jeopardizing the relationship while expressing your salary raise expectations, especially if you ask for a hike in your present employment. Understand that your employer has alternatives. But if you’re exceptional in your job, finding a replacement at a similar cost is difficult. So, while negotiating – mind your power.
5. If you want a raise, don’t go for win-win
The party who says that s/he/they want a win-win agreement is bold enough to ask for what s/he/they want.
It may feel good, and you sound excellent in front of the other party, but that doesn’t pay you well. The study shows that not always two parties agree because a win-win situation is not available. So, in that case, both parties look for the next best alternative. But please don’t worry about the other party during salary negotiation. They know the deal, price, value, and alternatives when negotiating the salary raise. Don’t look for win-win; look for your winning during a salary negotiation. Rather deal from your perspective.
The tactic may sound arrogant, but the reality is far different than the theory, and by thinking most about your interest, you’re putting the reality into practice. And guess what? That will help you earn better.
6. Take charge
It often so happens that the recruiters never talk about salary levels in the interview. They take the interview and then altogether skip the process. A nervous candidate always gives up on the mandate of the recruiter and dumps the idea of salary raise expectations, and leaves the place.
It’s unfair, but you’re partly responsible for the same.
Often the company which provides you with the job thinks that they’re providing you with with the job opportunity. But when you join, it’s not only for your benefit, and the company is not doing any favor to you; instead, you’re ready to share your time, effort, skills, and expertise with the company. And even if you don’t get what you deserve, how does it feel?
Don’t let it happen to you.
If the recruiters don’t mention the salary level, you take charge and bring up the topic. It’s natural to let you ask a salary expectation question at the end of the interview. Instead of direct salary raise negotiation, talk to the recruiter politely about the compensation. Put it like this – ‘I think we’ve skipped one of the most important discussion points for the salary level position.’ Then ask the recruiter about the budget for the position.
Recruiters often do that because they want people at a meager cost. It’s not the fault of the recruiters. They’re also answerable to the management. But you’re after you join in. Ask for what you’re worth. And you’ll get it most of the time.
7. If you like to earn more, avoid compromise
You may have heard the concept of opportunity cost. The company for which you’re giving an interview has a lot of other alternatives. So do you. If there is no agreement, say no, especially when you know there are thousands of other companies who’re in demand for your expertise.
Here’s the deal.
It’s believed that the smartest charge the most. And also the other way around! If you charge the most, eventually, it will have a psychic impact on your skill. You will be motivated to improve. This is not a tactic but rather a mindset. Go with a positive mindset and ask for your desired amount after researching the industry standards and never compromise.
Most of the time, when you emphasize your salary raise expectations, the recruiter gives you more value and doesn’t want to lose you (subject to that that you have the expertise in your field). Try this mindset in meeting your salary raise expectations; you will win.
8. Control the logistics
The moment you are called by the recruiter, the salary raise negotiation starts. You may not realize this. But from the following conversation, you will get that. Notice the conversation, language, and specificity. There are two scenarios.
Recruiter: When would you be accessible for a face-to-face interaction?
Candidate A: Any weekday before lunch would be fantastic!
Recruiter: When would you be accessible for a face-to-face interaction?
Candidate B: Next Monday, at 10 am. I would be available.
Who do you think is more potent in his approach?
Of course, Candidate B shows that he is valuable, his time matters, and he is not always accessible. He will fetch a better salary than Candidate A if the other aspects go well in the interview. When he specifies the time and the day, he ensures that he controls the logistics, which will create better representation in the mind of the recruiters.
Be assertive. Sometimes, you may face that the interviewer cannot meet you at the time and day specified. Tell them you’re busy on all other days. If they want to meet you, they will have to wait 2-3 weeks. That will do the trick.
9. Break up the salary raise negotiation into two meetings for the better deal
Sometimes it takes effort to reach a consensus in one sitting. Thus, it’s wise to break it up into two meetings instead of one.
- When you’re interacting face-to-face for the position, you and the recruiter may discuss the salary raise expectations. But that doesn’t imply that it will reach an agreement between the two regarding the offered salary level. The recruiter may get a little aggressive.
- The best way to deal with that is to discuss the matter again in the next meeting. You may say, “I think we can discuss the matter in a separate meeting where I will present you with some facts and proof for asking for a better offer. Till then, let’s see how it goes.”
- Breaking up the salary raise negotiation into two separate meetings puts the other party at ease, and they can also take their time and prepare for a better deal. And you also get some time to design your agenda for better compensation.
10. Build rapport by disclosing personal information
Researchers have found that building rapport is an excellent way to ensure better deals. And the best way to do that is to disclose personal information.
Deal with the whole thing in the following manner.
Once you enter the room for face-to-face interaction, the first question the recruiter would ask you is – “Tell me something about yourself.” In response to that, briefly discuss your personal and professional achievements, but remember to mention one or two weird things or hobbies about you. Doing this will help you fetch a better deal and get a better salary raise expectations by building rapport.
Always remember that a recruiter is a human being, just like you. S/he may try to fit you in under the available budget. Building rapport makes them feel good, and that helps you win.
Salary Raise Request is a craft. Yes, it’s more than a skill. Salary Raise Expectations are to be met in order to maintain interest in your job. The more you practice, the better you will negotiate the deal in favor of your salary raise expectations. Start using the above tricks and see what works for you best. Wish you good luck in becoming better negotiators.
This article has been a guide to being open to salary raise negotiations. Be bold & courageous. Start using the tricks mentioned in this article & see what works best for you. These are the following external link related to the salary raise expectations.