If you are an employee who benefits your company, it’s time to negotiate a pay raise. Take advantage of Adecco Portugal’s in-house experience to learn how to successfully negotiate your next upgrade.
Decide what kind of salary increase you want
Before discussing a promotion with a team leader, find out what you want. If you want more money, decide how much you want. If you want a new rank, keep in mind what works best for your career. If you want more flexibility, choose a viable offering that’s compatible with the business segment you’re in and doesn’t harm productivity or your work | life balance.
Use up-to-date data to find your desired salary increase! Don’t ask for a 5% or 10% raise thinking it’s what you deserve.
How to determine this “magic” number? Follow these steps:
1 – Search among analogues of the average remuneration of specialists with similar positions
The quickest research you can do is to consult with your peers: former training colleagues, professionals you’ve been with at conferences, retraining events, or through social media groups associated with a particular professional industry. You can immediately get information about the average wage that is being practiced.
It’s important to talk about net and gross numbers: gross salary is subject to Social Security and IRS discounts, which vary depending on the amount agreed, so the net salary you receive will always be the amount after applicable taxes have been deducted. . To estimate the net worth of your ideal salary, you can use the Adecco Portugal salary simulator: this is a free online resource that gives you in seconds the final net worth corresponding to the salary you can earn, as well as the value of the discounts to which you are entitled .
2 – Decide what salary range suits you
Let’s say the fairest average annual salary for your position, experience level and location is between 20k and 30k gross euros per year. Generally speaking, you should aim for the upper end (80-100%) of this range. In this case, this will mean that from 24 to 30 thousand euros will justify the expectations of a salary increase.
The 80-100% rule isn’t difficult. The key to the decision is making sure you settle for less than your range of expectations. In other words, the bottom of your target range is the minimum wage increase you agree to. If, after several trading attempts, the result is still in the lower part of the requested range, are you satisfied? This is a personal decision and should be considered based on your goals and whether the final offer can be negotiated with other benefits that will benefit you.
3 – Decide on the exact amount of salary
Now that you know your target range, it’s time to determine the exact amount you’re going to use to make your initial request for a pay rise and open the door to negotiation. Again, it’s a good idea to start with the highest value.
Because? You must assume that your leaders are going to offer you lower value. If you were immediately granted the proposed increase – Congratulations! However, they will most likely offer a smaller amount, at which point you will have to decide whether to accept the counter offer back.
Trading Tip: Hard numbers (as opposed to round numbers) can give you an advantage in negotiations. This means that you have done detailed and thorough research before trading. So instead of asking for €30,000 a year, you can offer €30,350 a year. Worth a try.
4 – Prepare a compelling case to justify a pay rise
While the asymmetry between supply and demand in the labor market may work in your favor as a promotion candidate, it is unwise to rely entirely on market conditions.
An essential part of asking for a raise is demonstrating (using clear metrics and/or examples) the value you bring to your company during your time there. Did you develop an in-house solution that saved your company from having to rely on an external supplier? How much did you save the company? Did your recent project increase revenue, increase efficiency, or generate leads? Highlight the fruits of your labor in precise numbers to quantify what you bring to the table. This may not be possible in all cases, but there are always ways to measure the impact that certain initiatives have on an organization.
5 – ASK, but ASK for a raise!
The worst thing that can happen to a well-reasoned request for a raise is to get the answer “No.” Of course, this is not an ideal scenario, but at the very least, if this happens, management will know that you are unhappy with your salary. The company may not have even met the conditions to give you a raise this month, but it will likely be at the front of the line for a raise when the opportunity arises, or offer other types of incentives that demonstrate that they recognize your value. .
Above all, be confident and stay professional. If you see very low offers, never be afraid to offer a counteroffer that seems fair and in line with the company’s capabilities: this is what defines the negotiation.
At the same time, try not to become so adamant about increasing your target salary that you won’t be able to evaluate a highly competitive offer if you get one. In the end, only you can decide when to agree and when to back down.
