Saturday, December 6, 2008

Reasons to Brush Up On Your Salary Negotiations Now

By Trevor Davide Grant

Do you feel like you're one of the millions of people who are underpaid for the highly professional hard work that you do? Are you putting in too much energy into your job and not getting enough back from the company you work for? If so, there is something you can do about it!

Earning a higher salary is not a factor of luck, it is a matter of being proactive and building yourself a well planned case for negotiating a pay raise. When you have a well planned case, you can approach your boss in a totally empowered way, and you give yourself the best chance of success.

What are your motivations for stepping up your salary negotiation game? These are some great reasons to learn how to negotiate a salary like a pro.

1. Being respected by your boss. One common motivation for people is when they feel respected by their employers. When they feel respected, they are encouraged to do better work and step up their professional game. When you approach salary negotiation like a professional, you're employer will recognize it, and will respect you more.

2. Self respect. Knowing you stood up for yourself, and knowing that you achieved your salary negotiation goal, you will have a higher feeling of self respect. It is very financially rewarding to negotiate a pay raise, but there is a lasting sense of accomplishment when you face a challenge such as salary negotiation, and overcome it.

3. Extra cash flow. The main reason for negotiating your salary is to earn more money. You may want more income because you want to take a trip or a buy some special treat for yourself, or you may feel you need it to plan for your retirement. Either way, you won't win the salary negotiation based on your wants or needs. You must have a solid foundation.

4. You may negotiate extra benefits. Many times, salary negotiations may not end with the final dollar figure that you had in mind, but you may instead compromise by negotiating a combination of salary and benefits. For many people the combination of extra cash and extra time off, or other benefits like pension, stock options, or other unique benefits are a big deal.

5. The higher your starting salary, the bigger your raise will be when it comes time for a scheduled pay increase. The sooner you negotiate a higher salary for yourself, the more likely you are to gain a larger increase when the next annual increase comes around. If your increases are based on a percentage of your current salary, this is particularly relevant.

Everyone has their own reasons for asking for a pay raise. You know your reasons too. What is most important is that you go into the salary negotiation well prepared with a well thought out plan that includes expert strategies. You will not regret the effort you spend preparing when you close the deal on a new higher salary.

To your financial success. - 16738

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