Thursday, January 20, 2011

How To Increase Your Value To Increase your Salary

Asking for an increase in salary is not an easy task. This issue becomes complicated as we have a very limited control over our salary when we work in a company or organization. There are no defined set of procedures which can be opted for negotiating your salary. However, you can use the guidelines given below to ask for an increase in your salary:

•Research and collect information about your field. This would inform you about additional education and training required for establishing yourself as an expert in your field. Besides these, you should also be informed about the current salary trends and average salary for the position. It will basically help you to know your market value. This would help you while negotiating your salary with the employer.

•You should also be informed about the procedure of pay raise adopted in your company from the company policy.

•You opt for some ways which will help you in your salary increase such as upgrading your career and always maintaining a professional attitude towards work.

•Avoid comparing yourself with your colleagues. Try to find out the reasons which are affecting your performance or responsible for obstructing your hike in salary. A possible solution to this problem is to start adjusting your behavior and attitude so that you can prove your worth to the employer. In case, you have proved yourself and achieved good points in evaluation done by the company then it is appropriate time for asking an increase in your salary.

•The most essential aspect required for an individual is to be confident and should keep a positive attitude that you deserve better. You should approach the boss for negotiating your salary. It is necessary to use the right words while doing so. You have to mention all the major contribution made by you in order to improve the performance of the company.

•You should constantly assess your work and also find out whether you are getting what you deserve. Prepare a list of tasks performed by you and the list of duties expected from an employee hired at that post. Take these two lists along with you while negotiating for salary hike.

•Try to do something new and it requires you to come out of the comfort zone. This will help you to broaden your focus and it would bring out excellent results. You should actively participate in the meetings and give out innovative ideas which will work towards achieving the organizational goals.

•Once you have collected all the related information, prepare a report which would contain all the details such as any special contributions undertaken, services improved or any other special initiatives undertaken by you for increasing the revenue earned or customer satisfaction. You can opt for a meeting with the employer and discuss it in the meeting.

•While discussing about pay hike, it is necessary to keep options for negotiations open and should also avoid threatening the boss or demanding an increase in salary.

•Another alternative is to opt for sending a letter asking for a pay hike. This method is not that effective medium as it is one way communication. However, you can opt for using combination of two methods of sending a letter first asking for a meeting to discuss this issue.

Thus, the guidelines mentioned above will help you to make the right approach to increase your chances of increasing your salary.

by Jennifer Parker

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