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The hiring market is hot. If you’re a job seeker or employee who wants more—more money, more flexibility—ask now. In many corners of the economy, workers have the upper hand. But do it right.
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Know what salaries similar professionals in your role, industry and region earn, so you have a figure in mind when you talk to your employer. You can find this information by: – Researching company review and employment websites – Using online salary tools – Talking to other professionals in your field – Asking a recruiter
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Document and organize your research findings so you can reference them later. Then, determine a compensation range that represents your value, and choose a salary toward the top of that range to ask for. If your manager tries to negotiate a lower salary than this figure, you still have room to agree on a salary you are happy about.
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Base pay is important. But there is so much more to ask for than just a higher salary. A bigger bonus percentage, flexible work hours, the ability to work remotely, more vacation time, equity in the company, a cellphone or home office stipend or money toward continuing education and certifications are all on the table.
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Think hard about what you want and try to negotiate for three things, not a dozen. Keep in mind, companies are more likely to give you something that is free to them. For instance, a better job title doesn’t cost them anything, but could help you get another raise of $10,000 to $15,000 when it’s ti
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Whether angling for a new job or asking for more money where you are, you really have to make a point to say, “I want to be here". If you’re interviewing for a new job, you’ll have to discuss pay at some point, but you don’t want to get boxed into a number too soon.
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If asked directly how much you make now or what salary you are expecting, you can turn the question back to the hiring manager. For instance, you could say, “I’d really like to reserve the conversation in depth about pay until we get further in the process because there’s a lot of components of pay to talk about.
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However, let’s not waste each other’s time. I’m really curious. What is the range of pay that you’ve slated for the position?”. If your desired salary is close enough to the range, say so. Then quickly pivot to talking up all the attributes you bring to that employer.
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When hunting for a new job, don’t bring up salary during the initial stages of interviewing. Try to avoid specific conversations about pay until the end of the process, once they’re sure they want to bring you aboard. At that point, you have the most leverage.
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In an existing job, ask for more money when you’ve done something great, such as completing a project or exceeding a goal. Money goes to those who ask, not to those who wait. If you think that waiting in line for your annual increase is your way to get ahead, you are incorrect.
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A counteroffer is the fastest way to know your worth in the market and get a raise in your existing position. Some companies don’t like having to counter, but if you frame the offer the right way it will reduce the risks. When you bring up the offer, tell your manager how much you love working there and want to stay, but you can’t ignore this other offer.
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Ask if you can have a conversation about your career path and pay, and see if you can come to an agreement about a raise or a promotion. Don’t say, ‘Give it to me or else".
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If you ask for a raise at your current position or more money while negotiating for a new job and hit resistance, try asking if you can be rewarded in two parts. Half the raise you want could come immediately, and the rest could be tied to hitting certain goals in three or six months.
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If they agree, follow up with an email spelling out the details to help formalize the agreement. Use phrases like, “I just want to make sure I got this right,” and “Did I understand that correctly?”