THE ART OF NEGOTIATION: ASKING FOR A HIGHER SALARY | THE PERFECT RESUME

THE ART OF NEGOTIATION: ASKING FOR A HIGHER SALARY | THE PERFECT RESUME

Have you been staying at that same company and still receiving nearly the same rate upon your entry? Worried that you may sound greedy or cause an awkward moment of silence in an interview when stating your ideal salary? Maybe you have heard that your classmate from uni just got a promotion and a BIG raise and is now planning to buy a lovely estate! And here you are wondering, “how to negotiate a salary increase effectively?”

You came to the right place – well, interview, job search, and career coaching blog! If you are looking for ways to make more money and curious about how to negotiate a higher salary, learn about what experts from The Perfect Resume have to say! With powerful application tools, such as your resume and cover letter, coupled with the perfect career strategy and script, you can successfully ask for what you deserve! How? Read on, grab a pen and paper, catch these no-nonsense tips now!

With Competitive Salary Comes Amplified Productivity

Oh, boy! Here come the bills again! Run! If only we could all skip the paying part and just have everything we want, right? Since not all of us are born with silver spoons in our mouths, we need to hustle and then get paid. The salaries we receive are now what we shall divide to cover our daily expenses and save for our future needs. When we have some spare, we check out those items in our shopping carts that have been sitting there for a while, like that brand new phone with some excellent specs, that home décor that would perfectly fit our home office, or extend our Netflix memberships. Therefore, in this aspect, we can all agree with that old saying, “money makes the world go round!”

It is one of the reasons why you should not feel bad for thinking about asking for a much-deserved raise! Other professionals even resort to quitting their roles, revamping their resumes, cover letters, and LinkedIn profiles to better equip themselves for their job search journey!

In addition, did you know that your salary is also directly linked with workplace productivity? According to The Predictive Index, a talent optimisation expert, compensation is a key component in employee attraction, retention, and turnover. So, if you have been unmotivated at work recently, maybe it’s time to evaluate how much you are receiving per cutoff!

The Perfect Resume Interview tip: it’s not enough to simply ask for a raise. You need to know how and when to negotiate salary during the “talk” with your boss or that job interview with a potential employer.

Know the Market Rates for your Position

When it comes time to negotiate your salary, it’s crucial to have a realistic idea of what you’re worth. Sites like Glassdoor, Linkedin, or Indeed can give you a good sense of the market rate for your position. If you’re underselling yourself, you may leave money on the table.

However, it’s also important to be realistic about the company’s budget. If the company can’t afford to pay you what you’re asking for, they may not be able to offer you the job or consider an increase. Here are some proven tactics that can help you prepare for that nerve-racking salary conversation which may also happen during interviews:

The Perfect Resume Tip #1: Compile your career-related evidence and achievements.

“I got the job; now it is time to put my resume and cover letter to a rest!” It is an example of an impractical mindset that many professionals display after landing on the role or promotion they are targetting. Don’t revisit your job search tools only when you switch jobs or apply for a new one – do it religiously. Why? Your CV will always be handy when asking for a higher salary. By regularly completing a few tiny tweaks to your resume, especially adding your most recent accomplishments at work, such as completing a complex project within the deadline, saving a substantial amount of company money, or even receiving praises from your colleagues and superiors, you can present pieces of evidence proving why you are better than other candidates and why you definitely deserve a raise.

Don’t miss your free resume review: If you need any help in making an applicant tracking system resume template and cover letter that contain relevant keywords, highlight your key skills, and surely convince hiring managers and potential employers that you are worth the investment, stop wasting your time online! Please send a copy of your latest CV to info@theperfectresume.com.au, and one of our professional resume writers and career coaches will share career advice and resume tips that will help you secure your dream job!

The Perfect Resume Tip #2: Prepare the perfect pitch.

Now that you have the career history section of your professional resume template updated, you have a tangible idea of what you have contributed to this particular job you are in. It is the perfect time to let the negotiation planning commence! In this case, it will be helpful to formulate a script for asking for a raise. How do we write one?

Despite being usually available to the team members, hiring managers, recruiters, and employers have a lot on their plates! Therefore, it is best to open the talk by clearly communicating your purpose – to negotiate your raise or name your price. As a job applicant or a current employee, career experts from The Perfect Resume strongly suggest using the Gratitude Sandwich strategy.

“A sandwich? So your career tip requires me to bribe potential employers or managers with food?”

Not that sandwich! Gratitude Sandwich is a method that Tori Dunlap, millennial money and career expert, used to get $10,000 more after negotiating her salary. According to Tori and other job market experts, this specific approach is a strategic way to start the negotiation process. Here, you build your pitch by placing positive comments at the beginning. Then, like the middle part of the sandwich that contains the most delicious and essential ingredients, such as the meat, or if you are a vegan, then we have the guacamole, lettuce, cheese, etc., we mix in our constructive and not so positive comments. After, we close it by using flowery words that display our oh so great gratitude. And voila - you have the formula to the perfect salary negotiation sandwich – oh, strategy!

Before you get hungry and leave this blog for UberEats, here are some pitch starters for you:

  • “Wow! This is such great news — thank you. I’m so excited for this opportunity. I felt right at home during my interviews and am really looking forward to being part of the team.” This is exactly how Tori Dunlap started her gratitude sandwich method that helped her secure an additional $10K, amplifying her expected income from $65,000 to $75,000!
  • I am extremely grateful to you for meeting with me despite your busy day. As one of XYZ’s dedicated team members, I am eager to continue my mission of achieving your key objectives and learning more skills that I shall eventually use to give back to XYZ.” 

Now that you have an attention-grabbing intro, it’s time to reveal your agenda to your listeners. After expressing how thankful you are for what the company has provided you, you want to open their eyes to what you have done for them. Table your most impressive achievements and irresistible key skills, may it be attracting more clients over a short period of time, uplifting sales and online engagements, or even completing a project before the expected deadline that saved the company’s money!

Example Script

To spare you time, here is an example of a complete script you may use when you are ready to ask for a raise:

“I am extremely grateful to you for meeting with me despite your busy day. As one of XYZ’s dedicated team members, I am eager and very dedicated to continuing my mission of achieving your key objectives and learning more skills that I shall eventually give back to and grow with XYZ. With this said, I would like to take this wonderful opportunity to discuss my salary. Is now a good time for it?”

“I wish to do not waste your time as there are more urgent matters for you to consider. Therefore, before our meeting, I have reflected on my request and researched the job market. Based on the facts and figures I have gathered, coupled with my tenure here in my second home, my overall experience, and key skills, a salary increase of X% is appropriate.”

“Since my last wage increment as your [insert your job title], I have been happily and actively involved in several initiatives, such as [here you may mention the projects you have been part of]. These projects have been successful and have added meaningful value to your esteemed company, such as [here you can sprinkle in metrics and the positive results from your work history]. Therefore, I am ready for a raise, and of course, continue to deliver high-quality work for XYZ. I would like to humbly ask that you consider revising my pay upwards.”

“Again, many thanks for hearing me out and welcoming my idea. I am ever grateful to be a part of an institution that establishes a fair environment for all staff. I really look forward to hearing wonderful news from you!”

And there you have it - an example of an effective salary increase pitch that you may tailor for your specific job! Remember, after writing your script down, read and rehearse what you want to say.

Attention job seekers and those craving a career change! Our band of professional resume writers and career coaches know what many employers want to hear and read. Therefore, if you want to be well equipped for your job application and need a boost of confidence, our resume writing services and career counselling is for you! We can help you not only with crafting applicant tracking systems-compliant resume templates, tailored and general cover letters, and selection criteria responses, but also guide you towards how to get that salary increase you deserve and toggle your career path! Click here to book a 15-minute free consultation with one of our career counselling experts!

The Perfect Resume Tip #3: Be prepared to compromise.

No matter how confident you are in your negotiating skills, there’s always a chance that the negotiating process stalls or doesn’t go your way. At this point, it’s essential to be open to compromise. If you’re asking for a higher salary, maybe you can settle for other benefits, like vacation days or a flexible work schedule.

The Perfect Resume Tip #4: Be polite and confident.

When it comes to negotiating, employers care more about your ability to get the job done than they do about how much you’re earning. That being said, some general etiquette rules still apply, such as politeness and respectfulness during the negotiation process. Avoid making disparaging remarks about your previous salary or starting salary offers from other companies.

The Perfect Resume Tip #5: Expect questions from your listeners and DO NOT hesitate to ask.

Make sure that you are ready for whatever follow-up questions may be thrown at you. This is why research and having an updated resume play a vital role during the interview preparation or negotiation process. Don’t get intimidated; your manager or potential employers may ask you questions, such as:

  • “Can you tell me more about the X project that you have completed?”
  • “As far as I know, this figure is not correct. Can you provide more details to support your request?”

To show your interest in improving your workplace effectiveness and seriousness to secure the raise, you may also ask relevant questions, such as:

  • “I wish to keep growing; therefore, has my overall performance met your expectations?”
  • “What other key skills would you like me to develop or improve prior to the compensation increase?”

Career Blog Conclusion

Figuring out your worth in the market is crucial before going into a job or salary-raise interview. Not only will it help you determine if the salary offered to you is fair, but it can also give you an idea of how much money to ask for during negotiations. Remember that timing is everything when it comes to negotiating, so make sure you know when the company is most likely to agree on a higher salary. If all goes well, you could walk away with a better-paying job and more benefits!

Stop Googling “How Can I Increase My Salary?” And Get The Help Of Our Professional Resume Writers And Recruitment Process Experts Today!

If you want to know and apply the golden rules of salary negotiation and significantly increase your income, The Perfect Resume is here for you! Our team has written over 3,500 compelling resumes and knows what it takes when pitching skills and experiences without sounding egotistical or overbearing. In addition, we also offer services, such as professional proofreading ATS compliance templates, cover letters, selection criteria responses, and career counselling that can help you move up the career ladder or secure your dream job.

Have a look at our resume writing packages available for employees by clicking here.

Recommended reading suggestions: