Source | FastCompany : BY ANISA PURBASARI HORTON
In an ideal world, we’d all be compensated fairly for our work and receive raises when we do well in our jobs without having to ask. Unfortunately, the real world doesn’t quite work like that. More often than not, we have to ask for the raise, make a case for why we deserve it, and do it in a way that makes sense to the company we’re working for. Those that don’t ask, often don’t get.
So if you’re looking to negotiate a salary bump this year, do yourself a favor and stay away from making these five common mistakes that negotiation experts say they see over and over again.
1. NOT DOING THEIR RESEARCH
Ask any negotiation expert the key to a successful negotiation, and almost all will say research and preparation, no matter the context for negotiation. Nancy Ancowitz, presentation and career coach and author of Self-Promotion for Introverts, tells Fast Company that before you even bring it up with your boss, you should have the following information up your sleeve: “What do the competitors offer people like you? How well does your company pay versus other organizations?”
Ancowitz suggests that in addition to researching sites like PayScale and Glassdoor, you should try to draw information from people in your industry. If you can’t get this information from people within your company, you might contact other people you know who are in similar roles in other organizations. You can also reach out to recruiters and headhunters, or even former professors. Bryant Galindo, founder and CEO of Workplace Collaborations, a negotiation and conflict resolution company, says that he always tells his clients, “You need to be a quasi-investigator.”
2. NOT NEGOTIATING WITH THE COMPANY’S BEST INTERESTS IN MIND
Negotiating salary can feel personal–after all, what could be more personal than attaching a number to determine our “worth”? But Jim Norman, a former HR executive at Krafts Foods Group, tells Fast Company that after the research, you should be preparing your argument in the company’s language. “You [have to] be clear about how you’ve added value in a quantifiable role. It might not be in dollars, if you’re in an activity-based role. ”