#Career 101 : How to negotiate for a higher salary
It’s time for your salary to keep up with inflation
Prices are only getting higher, but many of us are finding that our salaries have remained stagnant since the pandemic in 2020. While two years ago we may have been grateful to still have a job despite slashed bonuses and pay raises, we are definitely feeling the pinch now with rising inflation and the increased prices of necessities and utilities.
At the same time, negotiating for a higher salary with our employer is still a daunting prospect for many of us. It may be tempting to just wait passively for a pay raise, so that we don’t have to go through the trouble of advocating for ourselves and face the possibility of rejection.
But like many things in life, the things worth doing are always difficult to do. Learning how to negotiate for better work compensation and having experience doing so is a valuable skill to have, no matter your industry. Going through this process is also a great chance for you to reassess your skills and value, and reflect on where you are in your career.
Whether you are thinking of negotiating for a higher salary at your current employer or with new job offers, here is a step-by-step guide on how to get the conversation started.
More than just negotiating for a higher pay
Negotiating for a higher salary will not just benefit you in the immediate future, but also in the long-term—you will be improving your future earning potential by raising the bar of your current salary. Typically, a higher salary may come with additional responsibilities, which is an opportunity for you to demonstrate your capacity for growth within your role in the company. If you’re looking for career advancement, this will be an ongoing conversation you will need to have. Facing rejection is always daunting, but in order to make progress, you need to take the first steps to advocate for yourself.