Bible Money Matters

Christian personal finance

Menu
    • About
    • Archives
    • Contact
    • Close
  • Making Money
      • Popular Articles

        • 50 Ways To Make Money: Maximizing, Creating And Increasing Your Income
        • 10 Weird And Unconventional Ways To Make Money
        • Making Money With A Blog (e-Book)
        • 10 Places To Sell Or Trade Your Unused (Or Broken) Electronics
        • Ways To Make Extra Money Series: 20 More Income Generating Ideas From Our Readers
        • Making Side Income Can Help Blunt The Impact Of Becoming A One Income Family
        • Earn Cash Back With Discover it® Credit Card
      • Recent Articles – Making Money

        • Best Sites Like Fiverr To Make Money As A Freelancer
        • 13 Of The Best Independent Contractor Jobs
        • 25 Of The Best Gig Economy Jobs
        • How To Make Money Blogging: Turn A Blog Into A Business
      • Categories

        • Making Money
        • Investing
        • Retirement
        • Jobs & Work LIfe
        • Money
        • Income
    • Close
  • Saving Money
      • Popular Articles

        • 50 Easy Ways To Save Money Every Month
        • 10 Weird And Unconventional Ways To Save Money
        • 10 Practical Ways To Save Money And Increase Your Net Worth
        • How To Save Money On Just About All Of Your Regular Monthly Bills
        • Ways To Watch TV Without Paying An Arm And A Leg For Cable TV
        • Save Money On Your Hospital Bill - Just By Asking
      • Recent Articles – Saving Money

        • How To Save $100k In 7 Practical Steps
        • Stairs App Review: Save And Invest To Earn 4-6% Interest
        • Honey Review: Save Money Automatically When You Shop Online
        • 9 Convincing Reasons Why You Need An Emergency Fund
      • Categories

        • Saving Money
        • Frugality
        • Planning
        • Finance
        • Saving For Retirement
        • Savings Accounts
    • Close
  • Banking
      • Best Rates For 2019

        • Best Credit Cards
        • Best Savings Accounts
        • Best Mortgage Rates
        • Best CD Rates
        • Best Brokerages
        • Free Credit Scores
      • Recent Reviews

        • TradeStation Review: Commission Free Stock And ETF Trades
        • Firstrade Review: Commission Free Trades on Stocks, Crypto, And Options
        • Cadre Real Estate Investing Review: Commercial Real Estate Investing
        • Axos Self Directed Trading Review: Invest, Trade Stocks For Free
      • Categories

        • Bank & Software Reviews
        • Investing
        • Credit
        • Banking
        • Mortgage
        • Insurance
        • Family Budget
    • Close
  • Recommended
  • Video
    • Close

Tips For Negotiating A Better Salary (And Benefits)

By Peter Anderson 5 Comments - The content of this website often contains affiliate links and I may be compensated if you buy through those links (at no cost to you!). Learn more about how we make money. Last edited October 21, 2019.

Share472
Pin14
Tweet
Share7
493 Shares

If you work a full time job as an employee, at one time or another you’ve probably had to deal with one of the most uncomfortable, but also one of the most important of discussions.

The salary negotiation discussion.

Going into a salary negotiation unprepared can mean that you don’t get what you deserve when it comes to your paycheck.

negotiate-salary-increase1

By the same token, going in prepared can lead to thousands more in income over the years.

So what are some things you can do to ensure that you get top dollar for your position?

Here’s a Money Mastermind Show where we talked in depth about salary negotiation with guest Jason Hull of MyFinancialAnswers.com.

Quick Navigation

  • Be Prepared – Know Your Contribution
  • Have A Minimum Salary In Mind
  • The Negotiation Purpose? To Show Your Value
  • Ask Humbly For A Raise (Don’t Demand)
  • The Negotiation
  • Be Thankful No Matter The Outcome

Be Prepared – Know Your Contribution

When going into a performance review, it’s your responsibility to come prepared.

Be ready to delineate just how much your completed projects, increased sales and other projects have meant to the company’s bottom line.

After all, companies are in business to make money, and if you can show just how much your contributions have meant to the company, you’re much more likely to come out of the office with a raise.

You know they’ll be asking about your performance, and what you’ve meant to the company, so be ready to provide them with an answer.

Providing that answer may mean that throughout the year you’re keeping a running tally of your contributions to the company, putting dollar figures on projects, and concrete figures for dollars saved, dollars earned, time saved and so on.

Have A Minimum Salary In Mind

When going into your interview, make sure to have a minimum salary in mind that you want to accept.

Do your research and know what range of pay jobs like yours have.

Sites you can use in your salary research:

  • Salary.com
  • CareerBliss.com
  • PayScale.com
  • GlassDoor.com

Use the numbers you find as a starting point, and a jumping off point when discussing your true value.

The Negotiation Purpose? To Show Your Value

Something to keep top of mind when going into a salary negotiation is that your success may depend on you being able to show your employer your true value to the company.

  • The purpose of the performance review for you as the employee is to sell yourself and to talk about why you deserve to be paid more.
  • Focus not on what the company can do for you (in increased salary), but what value you bring to the company.
  • When asking for a raise note your accomplishments, and make them more concrete by giving them a value, be it in time saved, money made, etc. (X project saved 20 man hours/week. Y project increased monthly revenue by 10%)
  • In some cases it may even pay to create a list of achievements and talking points you can give to the interviewer to help make the case for a higher salary. The key is to first deliver value, and then claim it at the salary negotiation.

Ask Humbly For A Raise (Don’t Demand)

One way to have your salary increase request rejected out of hand is to come in with the wrong attitude.

If you come in with the attitude that you deserve it, and demand the raise without providing sufficient reasoning behind it, you may come off looking entitled and as not a team player.

Instead ask humbly for a raise and be prepared to show how you’ve done your job as required, and even how you’ve gone above and beyond – excelling at your job.  Anticipate your bosses interests, and show how you can improve things for them. Show just how invaluable you are to the team.

Finally, don’t just ask for a raise because you’ve heard that a coworker has received one. It can come across as whining in that scenario, especially if the other person has come in well prepared for why they should receive a raise, and you haven’t.

The Negotiation

salary negotiation tacticsWhen it comes time to do the actual salary negotiation, after you’ve made it clear just how valuable you are to the company, there are some things you can do to improve your chances of getting a raise.

  • Let the other side make the first salary offer:  When it comes time to talk about an actual salary, it’s almost always better to let the employer offer the first number. When the first number is put out there, it sets an anchor price around which you’ll end up negotiating. If they go first you can do your best to earn the higher end of the range. If you go first and set the number too low, the employer will say nothing and you’ll earn less than you could. It’s best to Here’s a good post talking about how to answer when they want you to give the first number.
  • Repeat the offer, then be quiet: Some have suggested that it’s best to listen to the first offer by the employer, to repeat it and then remain silent. They call this “the flinch”. More often than not they’ll come back with a higher offer. If not, nothing is lost.
  • Make your well researched response: Make a counter-offer that is based on what you know about yourself, the market, and the company. Again, make sure you have done your research ahead of time.
  • Close the deal—add some extras. After you’ve locked in a salary offer, don’t forget to negotiate additional benefits. Think about things like extra vacation days, tuition reimbursement, company provided mobile phone or a company car. Getting added benefits can effectively raise your income as well.

Be Thankful No Matter The Outcome

If your salary increase request isn’t successful, don’t let it cause you to become bitter or immediately start looking for a new job.

Be thankful for the opportunity, and do your best to show your employer that you intend on improving in your job performance.

Take the time moving forward to make sure you’re providing true value to your employer, and to keep a tally of your achievements on the job.

Provide value, and then claim it at your next performance review.

Have any of your own salary negotiation tips?  Tell us what they are in the comments!

Related Posts

  • Buying A New Or Used Car? Negotiating Tips To Use With Car Dealers

    Shopping for a car can be stressful.  If you do your research, however, and understand how the sales process works, you'll end up paying a…

  • Home Maintenance Tips: Spring Projects

    Spring is here (or almost here in our case), and its a good time to do a few things around the house to make sure…

  • The Financial Benefits Of Being Married

    There are many financial benefits to being married. Here are a few of the big ones.

Share472
Pin14
Tweet
Share7
493 Shares
Last Edited: 21st October 2019 The content of biblemoneymatters.com is for general information purposes only and does not constitute professional advice. Visitors to biblemoneymatters.com should not act upon the content or information without first seeking appropriate professional advice. In accordance with the latest FTC guidelines, we declare that we have a financial relationship with every company mentioned on this site.

This article is about: Jobs And Work Life, Making Money

About Peter Anderson

Peter Anderson is a Christian, husband to his beautiful wife Maria, and father to his 2 children. He loves reading and writing about personal finance, and also enjoys a good board game every now and again. You can find out more about him on the about page. Don't forget to say hi on Pinterest, Twitter or Facebook!

Comments

    Share Your Thoughts: Cancel reply

  1. Abigail says

    It always shocks me that some people would ask for a raise or promotion without having clear reasons that they’re a valuable asset. I recently heard of one person who told her supervisor, “My dad says I deserve a raise.” Sheesh.

    Reply
    • Peter Anderson says

      That sounds like a millenial. :) On the Money Mastermind Show video on the post we actually talk about that a bit, how younger generations have an entitlement attitude a lot of the time, where they feel like they deserve raises for no reason whatsoever. I think I’ve even heard of someone bringing their mom into an interview.. ugh.

      Reply
  2. Kate @ Money Propeller says

    These are all great tips for salary negotiation. When I worked in a company before, I’m positive that I had an outstanding work performance, I tried to ask for a raise and they didn’t fail me.

    Reply
  3. Karthigan Srinivasan says

    During the interview, I always say that I am open to what they would have to offer. After the interview, when they are trying to hire me, I say I am open and I would like to see what they have to offer.

    In the game of negotiation, the person in a hurry always makes the first offer. If the company really likes you and wants to hire you, they would want to make the best offer because they want you bad.

    Once they make their first offer, you could always ask for more, as long as you see that it is a reasonable ask.

    This strategy has worked for me every time.

    Reply
  4. pranit says

    Very nice article!
    currently i stuck with same situation on how should i negotiate my pay raise, i have searched for many tips on internet but finally came to this great article with best possible tips and guide to negotiate salary hike. Thanks a lot for sharing with us, will be so helpful with this!

    Reply
Previous Post: 18 Websites To Make Extra Money Via Surveys, Panels, Polls & Cash Back
Next Post: PlayOn Online DVR And Video Streaming Software Review
Discover Investment Platforms

Popular Posts

  • 21 Easy Ways To Earn Free Amazon Gift Cards
  • 10 Best Free Tax Filing Services And Software Online
  • 21 Apps That Pay You Real Money Fast
  • 17 TV Apps And Live TV Streaming Services To Watch TV Free
  • 30 Legit Online Jobs That Pay Well
  • 37 Easy Ways To Get Free Gift Cards
  • How To Get Free Stock
  • 40 Easy Ways To Get Free Money Fast
  • 21 Places To Read Free Books Online
  • 24 Legit Online Jobs
  • 17 Best Work From Home Jobs: A List Of Legit Online Jobs That Pay Well

Recent Posts

  • How To Save $100k In 7 Practical Steps
  • How to Save Money When Remodeling A Home
  • How To Hire A Contractor For Your Remodeling Project
  • Remembering 9/11 Years Later: Where Were You On That Fateful Day?
  • TradeStation Review: Commission Free Stock And ETF Trades
  • Firstrade Review: Commission Free Trades on Stocks, Crypto, And Options
  • Cadre Real Estate Investing Review: Commercial Real Estate Investing
  • Best Sites Like Fiverr To Make Money As A Freelancer
  • Axos Self Directed Trading Review: Invest, Trade Stocks For Free
  • 30 Quotes About Easter And Resurrection: He Is Risen!

Disclaimer

The information contained in BibleMoneyMatters.com is for general information or entertainment purposes only and does not constitute professional financial advice. Please contact an independent financial professional for advice regarding your specific situation.

In accordance with FTC guidelines, we state that we have a financial relationship with some of the companies mentioned in this website. This may include receiving access to free products and services for product and service reviews and giveaways.

Any references to third party products, rates, or websites are subject to change without notice. We do our best to maintain current information, but due to the rapidly changing environment, some information may have changed since it was published. Please do the appropriate research before participating in any third party offers.

Amazon and the Amazon logo are trademarks of Amazon.com, Inc. or its affiliates.

We respect your privacy: Privacy Policy.

Thanks for visiting!

Bible Money Matters - Seen On These Sites and more..
Bible Money Matters is a personal finance, entrepreneurship and investing community. Give more, save more and live more.

Copyright © 2023 · Bible Money Matters | Sitemap | Advertise | Privacy Policy