Everyone wants a higher salary. With the cost of living going up every year, it seems you constantly need more dollars to pay for food, housing, and healthcare. If you haven’t been receiving regular raises, chances are your income isn’t keeping up with inflation. We don’t need to tell you that you need more money, or why you need it — you probably already know. The question is: how do you get it?
In order to negotiate a higher salary, you really need to know what your salary should be. Maybe you have a dollar figure in mind, but if you don’t, it’s a good idea to have an exact figure in mind before you approach your boss about a raise.
One of the first steps is simply to find out if you’re being paid at a rate comparable to other people doing your job. It’s often instinctive to keep talk about income out of the workplace, but one of the best ways to find out if you’re being paid competitively is to find out what coworkers doing the same job are taking home from your company. While some employers may try to forbid this talk, most don’t have an express policy against it because in most places it isn’t legal to do so. If you’re unsure how to approach this topic of conversation with a coworker, try casually mentioning that you plan to ask for a raise, and then be willing to volunteer what you make. Use your best discretion.
Beyond the best resource of your coworkers, turn to the internet for help. Check job sites like Glassdoor where people review employers and often share salary ranges. Even if you can’t find information about your particular employer, you can see what other people in your career are making elsewhere. And also check the U.S. Bureau of Labor Statistics for average wages for your position.
Beyond researching pay within your field, you may be able to simply use average income as a starting point. The median income of a wage or salary worker in the U.S. is $936/week or about $48,672 over a 52 week year. If you’re making less than this average, and feel you’re a valuable employee, you may be able to negotiate just using this figure alone.
Now that you have a figure in mind, there’s one other thing you may want to try before you approach your boss. Try applying for a couple of jobs in your field. It can be a lot of work to polish up your resume and apply for jobs, but few moves can give you a better idea of your value than to look for another job you’re qualified for.
There’s also a chance you’d land a new job, with better pay and benefits which would solve your problem. Or it might give you a good position to bargain from to negotiate a salary with your current employer.
When you talk to your boss, make sure you can show them how valuable you’ve been to the company. Show the differences you’ve made with hard facts and figures. Then ask for the salary you want.
