How to Negotiate a Pay Raise

Apr 16, 2024 | Podcast

World at Work podcast Ep 75 how to negotiate a pay raise“Your employment relationship is a two way economic transaction, and so you need to demonstrate to them what value you bring them in order for them to bring value to you in return.”

Are you considering taking the leap to a new job for better pay, or wondering if your current employer might match your worth? During this conversation, we bring you some powerful insights on asking for that pay raise.

Three key takeaways to unlock a successful negotiation:

**Know Your Value in Numbers**: Don’t just highlight your good work; quantify your contribution in dollars and cents. How have your projects boosted profits or efficiency?

**Market Value is Gold**: Understand the market value for your role. Research payscales considering factors like company size, industry, and your job specifics.

**Alternative Compensation**: If the pay scale is rigid, consider negotiating for supplemental compensation for extra projects or responsibilities you’re willing to take on.

Negotiation can be a win-win when done right. Make sure to listen to this episode in full for more strategies on how to approach these conversations with your current employer and as a job seeker.

Connect with Tim and his team:

Website: https://bestculturesolutions.ca/

LinkedIn: Best Culture Solutions, Inc

Instagram: @best.culture.solutions  

Email: tim@bestculturesolutions.ca

Key Moments

01:20 Dealing with conflict constructively and demonstrating value.

05:20 Understand market value and quantify your impact.

06:37 Challenges of valuing your worth in salary.

10:25 Calculate time saved, demonstrate value, show future impact.

12:50 Ensure strength before engaging, offer compensation analysis.

Tim Dyck
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