Being nervous about talking about money can have many causes, a lack of self-esteem, fear of being seen as mercenary or fear of rejection. But remember that making sure you are paid correctly is a basic right. Done right, demonstrating your negotiation skills will show commercial savvy that will impress your boss.
You need to go to the meeting with a good idea of what you’re worth – and a good awareness of what you potentially deserve and what you are currently missing out on. While it is important to benchmark your pay accurately you must not compare yourself to other colleagues when in the meeting.
It’s a good idea to speak to a recruiter you trust too. Recruiters deal with salary negotiations on a day-to-day basis and can give you guidance on what to ask for.
Practise with someone you trust
You should be more assertive in a polite, balanced way, and not apologetic for, or excessively grateful for, receiving something which is effectively your right anyway.
Role-playing what you want to say, and how, is a great way to grow your confidence for the meeting ahead, practice with someone you trust or one of our consultants who can then advise you further.
Timeing is key
Timing is very important when broaching the subject of salary. If your annual pay review is in January and you call the meeting in March, you’re likely to have missed your chance. Think wisely when the best time to organise a meeting.
Keep it focused
Call a specific meeting for just your pay don’t try to combine your pay issue with other discussions. Keep things to the point and try not to go off the subject.
Knowing the basics of negotiation can help you get a great deal. Listen hard, listening shows respect, repeat back key points the manager makes, mirroring shows you appreciate their perspective and you are taking them seriously.
Don’t feel pressured to jump at the first figure that’s put in front of you, it is unlikely this is their first amount to be offered. Don’t feel the silence with chatter or white noise, ask your question and wait for the answer. Let the silence fill the room, this is a classic sales technique and is often very powerful.
Even if you are happy with the proposal, give yourself some time to think things over. It is wise to reflect on the offer do not let the emotion of the moment sway you and ideally discuss it with someone you trust.
Consider your options
If you don’t get what you want from the meeting, stay calm, professional and again give yourself time to decide. Sometimes the manager simply doesn’t have the power to do anything at the current time, if this is the case make sure you put in a date for a review.
Always end your meeting on a positive note. Regardless of the outcome, make sure you finish the meeting on a constructive note and show your appreciation for their time.
If you are still not happy with your outcome, it may be time to think about looking for a new job where you feel the pay is closer to what you want.
For further information and help please contact us on -
020 3947 3250