Careersaas can help you understand a potential range for your own career within our platform. We provide this data completely for free, and periodically update the metrics according to local market trends.
However, general market sentiment isn’t always a fair indicator when understanding how much you are worth for your current role. Sometimes, you just need to go head on in to a negotiation with a clear plan in your head and a negotiation strategy.
Careersaas outlines our top six tips for being savvy when meeting with your manager to negotiate your new salary.
Know your company value
If you happen to be in the lucky position where you have “special added value” to your company, you’re already in a great position. There are countless software developers that have unique subject matter in their current role that have leveraged this experience to negotiate a higher salary.
Know your company value before heading in to the negotiation. Understand the costs of hiring a potential replacement, and also gauge if your current firm is already hiring or doesn’t have a budget allocated for new hires.
Be polite, professional and formal
Probably the most important piece of advice. You may have outstanding camaraderie with your manager, however when salary is the topic of the day, approach the conversation with complete professionalism. You’ll need to have a well documented email thread prior to the meeting to discuss your salary expectations, and ensure that during the meeting you outline exactly why you’re expecting a particular salary and what value you have added to the company — particularly over the last 12 months.
Determine your salary expectations
This may seem obvious, but have a figure in your head before you set out to negotiate with your boss. Careersaas has over 50,000 careers in our portal each with a country-by-country salary. This data will be helpful prior to any conversation with your employer as you’ll have a clear picture of what other employees with the same title in the same country are currently earning.
Visit the Careersaas Careers page, at the top left in the textbox select your Career (or the role closest to your current position). Press the search button, and then finally locate your salary on the right hand side of the application.
Understand if your manager has the authority to negotiate for your raise
If possible, draw out the chain of command at your company and identify the key decision maker who will ultimately pull the trigger on a new wage. In the event of disappointment, this will also provide some solace should your manager be unsuccessful in his best efforts.
Your manager may wax lyrical about you, but often a Director may push back on any raise for his team. Once you understand your manager’s role in the process, you can set realistic expectations for yourself. Importantly, completing this step will also help you to more easily identify next possible IF you don’t receive the salary you want. There may be opportunities outside of your current position, and if the buck stops with your manager’s manager, your manager may be compelled to fight a strong case to keep you with the company and make a counter offer should you decide to jump ship.
Listen just as much as you talk
Even though you feel you need to sell yourself to push forward with a raise, it’s also important to listen to your employer’s feedback during the negotiation. Take extended pauses, digest all of the information and understand their viewpoint.
Negotiate other benefits
Many companies value a culture of learning just as much as a culture of success. When you’re at the negotiation stage, consider also requesting for time to skill up — this is a benefit often enjoyed for those that work in the software industry. Whether it be a conference, access to a learning tool or just simply mentorship from a colleague; try to weigh up all of the benefits on offer as part of the salary negotiation.
Another benefit could be an improvement on your job title — moving from a Software Engineer to a Senior Software Engineer may not seem the most glamorous of benefits, but it’s a wonderful item to add to your CV.
Want to learn more about salary negotiation? Head over to the Careersaas Learning Portal!