Feeling overworked and underpaid?
Whether you’re a full time, part-time, or temporary employee, it’s important to know your worth when accepting a job or seeking a raise.
Feeling underpaid is a predicament that many people find themselves in, whether at a new job or an old one. In fact, not negotiating your salary because you don’t know your worth could cost hundreds of thousands from your lifetime earnings.
Here are seven negotiation suggestions to get the salary you deserve:
1. Know Your Value
To get the pay you deserve, you need to know the going rate for your specific industry and your area. Otherwise, you’re at the mercy of an experienced hiring manager who can control the conversation. Do this by doing an online search on sites such as Payscale or Glassdoor, or by asking others in your field.
2. Talk to a Recruiter
One of the best ways to discover your true worth is to reach out to a recruiter in your area. They know what people with your experience and expertise are worth, so use it to your advantage! They may not be able to give you a specific number, but even a range is helpful.
3. Know When to Ask for a Raise
If you’re otherwise happy at your job, but your salary has remained static over a period of time, you’re likely underpaid. It’s time to ask for a raise! You may think your hiring manager should know when you deserve an increase, but that’s not always the case. Talking to your employer about a raise can be tricky, so be smart and cautious about it.
4. Present your Accomplishments
It’s important to make sure your boss knows about the great things you’re doing. One way is to prepare a one-page summary that highlights your accomplishments. List things since your last review, such as positive sales numbers, increased responsibilities, successful projects, etc.
5. Engage in Discussion
You should be prepared to discuss your pay with your hiring manager, HR director, or whoever can give you a raise. Understand what your boundaries are. How much flexibility are you going to allow? What are you willing to accept or not accept? Listen to what your employer proposes, and if not satisfied, come back with a compromise and other suggestions.
6. Don’t Rush It
It’s a good idea to consider an offer depending on how close it is to what you want. If you’re asked how long you need to think it over, say you’ll let them know in the next day or two. Even if the offer seems perfect, it’s usually good to not commit right away.
7. Consider your Options
If your supervisor won’t (or can’t) improve your salary, try negotiating for flex time, more vacation, a better title, or plum projects. It’s important to keep the conversation positive so, don’t threaten to leave if you don’t get a raise. You can, however, quietly begin your job search.
A Final Thought
Whether it’s a new job or an existing one, negotiating for the salary you want can be stressful. The good news is, with the proper preparation, research, and attitude, you can make it happen.
Sci.Bio is a leading recruitment and search firm based in Boston. We specialize in finding and hiring the best talent to fill temporary openings, long-term positions, and executive roles in the Biotechnology, Pharmaceuticals, and the Life Sciences industries. To learn more, visit our website today!