Approaching your employer for a salary negotiation, whether at an existing job or a new one, is something that requires careful preparation. Clear and respectful communication is the key, and so is market research before asking for your new compensation. It is important to keep your experience and the overall package the company usually offers in mind. What many companies do is that if they don’t have the financial compensation to back you up, they will leverage it with additional benefits like transportation subsidies or a flexible work schedule.
Initial compensations offered by companies are usually low as they like to keep room for negotiations if any. The best way to negotiate your salary with your employer is via a well-drafted email. The key things to keep in mind before drafting the email template for salary negotiation with an employer are-
Do A Thorough Market Research
A key component to consider before negotiating your salary is doing a competitor analysis and comparing what they offer to employees that are in your position. You don’t want to overplay or underplay your hand.
Know Your Value
If you know that you have been an important asset to your company, and have been dedicated throughout your role, don’t hesitate to ask for the amount you think you deserve. To factor this in, let your employer know what contributions you have made, your experience, what more you think you can do in the future. If you don’t believe in yourself, neither will your employer. Thus, be confident in what you are asking for.
Ask For Higher Than You Want
It is a thumb rule of negotiation. Both the parties haggle and then meet each other at a center point. If you ask exactly what you want, there is a chance your employer will try to negotiate and offer less.
Consider Your Expenses & Other Benefits
Firstly, if your employer is considering relocating you in order to give you the compensation, make sure to add the additional expenses into your demanded salary. Secondly, if your employer says they can’t financially back you currently, ask them if they are willing to offer other benefits or perks. Keep your options wide and open to get the best out of the negotiation.
Below is a sample template of salary negotiation with employer-
Email Template for Salary Negotiation with Employer
Dear [Name of HR Manager],
I truly enjoy my role as [Job Title] here. Over the past [Duration], I have gained a lot of experience working with [Manager] and the [Department Name] team. Not only have I had the opportunity to work on improving my skill set, but I’ve also been able to bring additional knowledge to the table, including my work on the recent [Name of Project] project.
As my role has adapted and evolved since my initial hire, I am writing to request a meeting to discuss my current compensation. I value my position within the team and take pride in being a part of [Company Name], and I look forward to bringing additional insight to our future projects.
I would appreciate the opportunity to meet with you to discuss a salary raise. Hence, kindly let me know when you might be available.
I value your consideration.
Sincerely,[Your Name] [Designation] [Email Signature]