People who negotiate their salaries tend to get more than what was offered according to experts. Picture: File
Don’t just negotiate a salary. Negotiate these things as well, the experts say.
With the economy on a downward spiral and loyal hard-working employees not able to negotiate a salary increase experts offer some advice on what else you can negotiate on.
Austin Belcak surveyed over 130 000 people about salary negotiation.
These were the results:
I surveyed 130k+ people about salary negotiation.
— Austin Belcak (@austinbelcak) March 22, 2022
Two data points completely blew me away:
54% of people did NOT negotiate salary for their last role.
93% of people who did negotiate got more than the original offer.
Negotiating isn't easy.
But the odds are in your favor.
Belcak also has over a million followers on LinkedIn and he suggests you discuss bonuses for ROI (return on investment), equity in a business, and more paid time off so your holiday period increases.
Job title — this means something when you go back into the job market as a title can help you look more qualified and get access to higher pay.
Training — New skills will make you more employable and employers are often willing to spend money on courses for employees. Do the courses and become more employable.
If this fails you should consider starting to negotiate for salary.
Manoka Mathye, a chartered accountant and career coach says if your employer has generally given increases and you have not received one, it is time to develop an action plan to get one in the next increase cycle or sooner.
Mathye advises that you start with a conversation with your manager. “A common mistake employees make is that they assume their managers knows everything about them and their work. It is important to realise that not all managers are as involved in your day-to-day activities as you may believe.”
So if you want to stand out from other employees then it is important to ensure your manager knows what you do and how well you do it, says the career coach.
Here are Mathye’s other tips for pro-actively ensuring you will be eligible for a promotion in the next cycle:
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