Negotiating for More Money: "How to Let your Boss Know That You Have More Value than Just Getting Coffee"

Are you frustrated with your paycheck playing a game of "Where's Waldo?" (If you can't understand that reference, I am officially old) You're definitely not the only one. According to MarketWatch Guides survey, almost 70% of Americans are living paycheck to paycheck. Respondents struggling to make ends meet span demographics, including genders, generations and incomes. If you are one of many Americans that struggle, then let's get you on the right track, the get a higher salary so I can afford my bills tract that is. Let get it!

Tip 1: Do your Homework.

Before you storm in there like you're playing a game of slay the dragon, find out what other players (or people in your industry) are being paid in your field. Now I often here this statement from people when they say "But you don't understand. Every time I attempt to ask my boss for a higher salary, they just want to give me more work AND I HAD ENOUGH!" I know it may seem like your being overlooked for a higher salary sometimes and it can become upsetting but remember this: the basis of any friendly negotiation is knowledge, not power. You won't be able to impress him/her by threatening or demanding a higher salary. Be calm but assertive when asking for a raise. Here's how you find other people making more in your industry:

• Ask the employees around in the company

• Research the average salary for that career in your state where you live

• Use websites like Payscale, Glassdoor, and the US Bureau of Labor Statistics (BLS) to get an idea of how much other people in your position earn annually and start building your reason why you should have a raise.

Make sure you get an idea or a rough estimate on how much the pay scale would be for that position before you slay that dragon (or talk to your boss about a pay raise.)

Tip 2: Prepare your pitch.

Practice makes perfect! Or at least the confidence to perfectly articulate what you want in your salary. Prepare your pitch ahead of time and be prepared to explain how your skills and experience align with the role and how you will add value to the company. Here's an example:

Thank you for extending an offer to join General Tax as a Tax Attorney. I'm thrilled about the opportunity to join your company and contribute to its success.

I believe I’m qualified for the position, given my previous experience and educational attainments. However, I'm not satisfied with the offered salary of $75,000 yearly. Based on my skills and experience, I believe $85,000 is a more appropriate pay.

You bring in the skills and achievements when its only beneficial to your boss and to the company. Please don't get to the point where you are bragging in the boss office about you and how you save kittens from a tree when you were 9. He/she won't care.

Tip 3: Timing is everything

I know you can't predict the perfect time to have a conversation with your boss about salary, but you can definitely come close by making sure the time you set to speak with him/her about salary is appropriate and accommodating to you and the boss. Try NOT to approach your boss in these 3 scenarios:

• On their way to lunch (I can assure you they're not listening, unless you are paying for it)

• In the middle of a crisis (Unless you caused it, and by that time they have it in their mind your fired)

• Before they had coffee (Why would you do that? Just why?)

Tip 4: Be Ready for the Counteroffers.

Counteroffers are inevitable especially if the employer doesn't feel like it would benefit or match their needs, or the company needs to grow. It's like when the pitcher throws a curve ball in a baseball game. They are tricky to catch, but if you drop too many then expect to strike out the game and that's not the goal! Negotiate your salary but be willing to be flexible. Here's a few ways you can get the upper hand on negotiating:

• Pause before responding.

• Ask follow-up questions about the counter-offer salary.

• Assess your qualifications and prepare an organized argument.

• Ask for a 10-to-20-percent increase.

• Conduct comparative salary research. 

• Don’t Ignore the Recruiter’s Motivations.

• Don’t Undersell Yourself

Wrapping it up:

Now you have the keys to open the treasure box of negotiations. With these tips, you'll be the expert negotiator and be on your way to get the salary you desire or at least be able to pay for your Netflix subscription so you can catch up on your latest season of Stranger Things.

Call to Action:

“Have any funny or successful negotiation stories? Share them in the comments below. Let’s learn from each other and maybe share a few laughs along the way!”

God bless and stay savvy!