Salary negotiation: How many percent more should I ask for?
You want to negotiate your salary, but are unsure of how much more you can really demand? An expert gives tips.
When negotiating salary, one should know: Between five and ten percent salary increase is generally a realistic value. As Coach Imke Leith pointed out in an interview with the magazine BAM (July/August 2024 issue of the Chamber of Labor Bremen), it is advisable to negotiate the salary every 18 to 24 months - and in every type of professional change.
Employees who are promoted and negotiate salary for a higher position should rather aim for a 20 percent salary increase. After all, with a higher position comes more responsibility. It is important to be aware: I can ask for everything, but I won't get everything, as the Coach emphasized.
Big mistakes in salary negotiations
If the boss or the bosses reject the first demand, employees should not see it as the end of the negotiation. Rather, it is just the beginning. One of the common mistakes in salary negotiations, according to the Coach, is not knowing one's own worth and giving in too quickly.
Also, employees who reveal their minimum demand or go into the conversation with a need for harmony do not help themselves. For a successful negotiation, it comes down to good preparation and a confident appearance.
Bad timing for salary negotiations
Salary demands have little chance of success when there are restructuring processes or annual reports going on in the company. Many budgets are already used up.
If there have recently been massive losses, key customers have left, or positions are being eliminated, this is also a rather unfavorable time for negotiations.
Last but not least, employees should keep in mind: If the manager or manager is leaving soon, they will have little capacity and time to deal with salary demands.
In some professions, retirement provision is a crucial aspect for consumers. Therefore, it's essential for employees to discuss this topic with their employer or advisor.
When considering retirement provision, it's important for employees to understand that their salary can significantly impact their future savings. Therefore, negotiating a higher salary could positively impact their retirement provision.
During a salary negotiation, employees should remember that their employer also has to consider the financial situation of the company. A skilled advisor can help both parties find a fair compromise.
