How To Renegotiate A Higher Salary As A Manager

500 Euro BanknoteAs a manager, you have likely negotiated pay for your employees during the interview process, and again throughout their time working for you. While you may be an expert in negotiations with others, have you thought about your own salary lately? Do you feel like you have been given fair raises that have been commensurate with your experience and effort in your post? If not, you may have to renegotiate your own pay with your immediate boss. Read this guide on how to do that successfully.

Research – Prior to asking for a raise from your supervisor, conduct research on what the average salary for a person in your position is. If you have a network of acquaintances in similar fields, ask them what expectations you can have. If not, search the Internet for job listings for positions such as yours, and see what the range of pay is. Another tactic is to call a corporate recruiter. Since these individuals find new positions for candidates, they know approximately how much each post pays, and would be able to provide you with some insight.

Make A List Of Accomplishments – Once you have decided that you deserve a raise, make a list of your past accomplishments to show to your supervisor. It is easier to ask for higher pay when you have facts about how much value you have brought to your department. For example, if you show how much efficiency has increased since you have become manager, or that you have increased sales by 25% in the last three quarters, it may make your boss be more likely to agree to a 10% raise for you.

Take On More Responsibility – Sweeten the deal for your employer by offering to take on more responsibility in your role for added pay. For example, can you think of additional projects or goals you can set for your company that will continue to increase sales? Pitch that to your manager during the pay negotiations.

Prepare For Disappointment – Just because you feel like you deserve a raise, does not mean your boss will agree. Whether your supervisor is constrained by the budget, or simply does not believe you deserve a higher salary, be prepared to hear a no. Or, even if you are given a raise, it may not be up to your expectations. Therefore, remember that no matter what the outcome of the conversation is, you must thank your manager for taking the time to listen to you, and be respectful and gracious. Showing too much disappointment or being rude can put your job in jeopardy, which you do not want to do.

If you have worked at your post for some time, you can still renegotiate your salary. Follow the steps above for advice on how to do so.

Many thanks

Mark Williams

Head of Training

http://www.mtdtraining.com

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Mark-WilliamsMark Williams

Mark Williams is a learning and development professional, using business psychology and multiple intelligences to create fascinating and quickly-identifiable learning initiatives in the real-world business setting. Mark’s role at MTD is to ensure that our training is leading edge, and works closely with our trainers to develop the best learning experiences for all people on learning programmes. Mark designs and delivers training programmes for businesses both small and large and strives to ensure that MTD’s clients are receiving the very best training, support and services that will really make a difference to their business.