Ten Tips On How To Negotiate A Salary Increase After A Promotion

After working in a company for a period of time, it is necessary that you get promoted. Receiving a promotion in the industry you work in is considered a great achievement. By going through the interview process, you are able to convince the hiring manager of your amazing work ethic and skills. However, promotion is based majorly on your outstanding merits. Therefore, with you being promoted, there would be an increase in the level of responsibility assigned to you, and your salary may not accompany that promotion. In this case, you may need to negotiate for an increase in salary.

However, it is quite essential to negotiate for an increase in salary following a promotion, as your employer would definitely know the cost of hiring and training a new person for that particular position you are taking on. And they are also aware that there is a possibility of you earning more if you applied for that same position in another industry. Therefore, you must be able to know how to negotiate a salary increase after getting a promotion. Here are ten tips on how to negotiate a salary increase after a promotion. Below are 10 tips on how to negotiate a salary increase after a promotion:

Emphasize Your Value 

There are cases where working in a company for a long time makes your employers underestimate your worth, so it is necessary that you provide concrete reasons to the management as to why you need to be paid extra if you truly feel you need to get a pay raise. Your new position might be one that requires a lot more responsibilities and more overtime. It is, therefore, necessary that you inform them of your need for a salary increase because some employers could be under the impression that you might require little to no pay raise. Also, it is best to include unquestionable facts and data that will show them the value you have added to the company to support your claim. You could also mention some information like praise from managers, colleagues, or clients, which would have piqued their interest in continuing working with your company because of your work. 

Give An Ultimatum

You might want a raise, but don’t come off as too headstrong during negotiations. Do not adopt a take-it-or-leave-it stance or try to pressure your boss with an alternative offer. You should treat the negotiation as a conversation between you and your boss, where you can listen to the issues your manager is facing and try to solve them. 

Know Your Market Value 

One of the basic things to note during a negotiation is that the parties negotiating should know their facts. So, if you want to ask for a pay raise, you should know your facts and these facts should be well-researched. Research can be done in many ways. Firstly, your new position could be searched for online, which includes the job description and salary information. Different websites have different salary descriptions for a particular job, so it is recommended that you search different sites and have an average estimate of the salary. Another method for research is to seek information and advice from professionals in that line of work or from your mentors or supervisors, as they could give some tips on the job requirements.  Once your research is completed, you can then adjust the estimate of the calculation you searched for to your situation. Maybe, for example, you might be working for a company that has just started its business. 

Stay Positive

Negotiations sometimes don’t go through. So, you have to stay positive, don’t be discouraged or frustrated because there might be some unforeseen pressures that your boss may be facing and that might be the main reason for your failed negotiation. To boost your chances of getting a pay raise, you could even offer to help your boss in any way you can.

Discuss The Way Forward 

In cases where the company might not be financially stable enough to provide you with a salary increase, it is advisable that you discuss with the management a way forward by asking them to provide you with a date when the company can completely cater to your needs for a raise. It is possible that there might be some criteria to be filled before a pay raise can be given. If that seems to be the case, the management should be able to provide you with some realizable goals and practical timeframes to complete them. And after that, you agree on a date to present the goals achieved to the management for analysis so that you can be counseled and given the necessary support and advice on how to improve if need be. 

Consider The Company’s Context 

When requesting a pay raise, there might be obstacles that will hinder your request. So, it is recommended that you do some research on your company to detect those issues. Such issues may include a cost-cutting measure or some recent layoffs in the company. 

During the negotiation, make sure to inform your boss that you are aware of the situations that the company is facing and then ask what you can do to help solve those issues. The main purpose of asking for a pay raise is to help the business growth of the employer. You have to make your employer see that by giving you a pay raise, it will also help in the promotion of his or her business interests. 

Do Not Start Your Negotiations With Complaints 

Beginning your negotiation with different complaints or difficulties you are experiencing could discourage your boss from giving you a pay raise. Complaints like not having enough funds for food, your children’s school fees, or living expenses could really mar your chances. Instead, you should try to present yourself as a solution to your boss so that they will have no choice but to give you a raise.

Keep An Open Mind 

It is possible that your manager might want to give you the pay raise you deserve, but perhaps due to some financial constraints or the departmental budget of the company, which might not be able to accommodate the increase in your salary, the company might not be able to give you the pay increase you were asking for. Therefore, it is absolutely necessary to keep an open mind during the negotiations because, instead of the exact percentage you asked for, the company might be willing to settle for something less due to some constraints on their part.

In cases such as these, by keeping an open mind and being reasonable, you will be able to compromise. The company might also be willing to compensate you in different ways apart from monetary benefits, such as:

• Increasing your annual leave
• Having a more relaxed work schedule 
• An increase in your commission
• You will be paid a higher bonus
• Try To Impress Your Boss 

You can never go wrong with trying to compliment your boss, but be careful not to come off as a braggart or a pretentious person. A person’s emotions sometimes sway their decisions, so make an effort to please your boss, especially in a subtle manner, so as to make your boss feel at ease in your presence. But don't get too comfortable because you're negotiating with your boss.

Keeping A Good Reputation With Your Manager And The Company

It is easy to offend both your manager and the company, especially if you take the wrong approach in asking for a pay raise, as it is a very delicate process to accomplish. If perhaps you have asked for a pay raise but the notion has been rejected, in order to maintain the goodwill of the company, it is advisable that you retreat for a while and try to learn as much as you can in the new position before resuming negotiations for a pay raise. 

Conclusion

Promotions are naturally great for one’s career as they will help to develop one’s skills professionally. Coupled with the new position, there will be room for more opportunities, and it also helps to apply for other positions with the skills you would have gained. If by any chance, the company keeps ignoring your requests for a pay raise, you might have to start searching for other opportunities outside of the said company.