How to increase your salary

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HOW TO GET A BETTER JOB OFFER OR PAY RAISE?

As employment demand increases, many companies around the world are struggling to attract candidates with the skills and experience they need to stay in the game. Moreover, the last thing they want to lose is their best minds. This makes room for talented professionals to negotiate not only with potential (new) employers but also with their existing employers.

CAN YOU NEGOTIATE A HIGHER OFFER?

If you are eager to get a raise or you want improved benefits from your employer. The first question you may need to ask  yourself is “Why should I get it?” Be as objective as possible when evaluating your performance with your current employer: Have you managed to add significant value to your team and the company as a whole? Can you prove your worth? Have you got good feedback from the manager and the boss?

If the answer to these questions is yes, then you can negotiate a salary increase with your current employer. Depending on the circumstances, your employer may have no choice but to improve your compensation plan. For many companies, it is worthwhile to raise a salary for an indispensable employee.

Employers know very well who the best performing and most valuable employee is/are. They are, therefore, eager to retain them for as long as possible. But that doesn’t mean they have to provide more money. So, if you are a highly regarded professional and you want to ask for a raise. Your employer may be willing to negotiate with you.

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Conversely, if you have been working hard and have not reached the expected level, you may find that your employer is less likely to participate in compensation negotiations. In some cases, employers may even be happy with the employee’s departure, so they can use the same money to find someone to replace them.

WHY SHOULD I GET A BETTER SALARY?

As the saying goes, “If you don’t ask, you won’t get it.” Therefore, when conducting salary negotiations, make sure you have a large number of case studies and achievement references. Being able to prove your value to the organization on certain terms will give you the opportunity to get better offers. Alternatively, you can provide the same information for a new job at the interview. The flipside, however, is that your employer may be at risk of losing you to their competitors.

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