If you’re looking for a way to increase your salary, there’s no trickier talk than negotiating a raise. It can be intimidating to ask your manager for more money, especially if you’re not sure how the conversation will go.
But don’t worry! As part of our community of tech talents in Asia, we understand that many times money is power and that getting the salary you deserve is essential. So here at NodeFlair, we're here to help you take charge and approach your manager with confidence in order to get the raises and promotions you deserve.
We'll show you the right strategy and tools to help you negotiate a higher salary. With this guide, not only do you get the extra compensation that will increase your financial stability but also showcase to your employer what an important asset you are! So, buckle up and start your journey towards an even brighter future – it's time to get paid what you're worth!
Ready to ask your manager for a better salary? Here are the key steps you need to take before you start the conversation. When negotiating salary, preparation is key!
First of all, try to recall any instances where you have demonstrated that your skills and expertise have contributed to the company. As a software engineer, that might mean working on successful projects that saved time or money, or it might be taking initiative in building new apps or improving existing ones. Make sure your list of accomplishments is clear and concise – this will become particularly useful when it comes time to brag about yourself.
Another important step is to research industry salary trends – calculate what you think a fair rate would be given your skills and experience as detailed in your ‘brag sheet’. Consider any potential objections, too – will they say they don't have the budget? What’s an effective response? Rehearse how you would counter such objections. Check out our latest salary report to understand salary trends better!
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Finally, put together a “brag sheet”; this will demonstrate all of your value and highlight why you deserve more pay.
Once all of these steps are done, practice delivering your points with confidence - now you're ready for the actual negotiation!
It's time to put that detective hat on because research is about to commence! You'll want to understand what other people in your position are making at other organizations, so you know how much your salary request should be or if your negotiations are only reasonable.
Start by searching online; review salary surveys and job postings for similar roles to get an idea of the going rate. For example, if you are a Mid-level Software Engineer at Meta in Singapore, you can expect to earn between $10,800 and $17,100, with the weighted median monthly salary being $13,883.
Be sure to include any relevant experience or qualifications that could increase the amount you deserve could potentially earn further. Then make a clear request of what you're asking for, so you don't have to circle back after the conversation has already happened—it'll help keep the discussion focused and ensure you won't settle for less than what you're asking.
You may not know this, but crafting a persuasive case for your salary negotiation is key to getting the outcome you desire. Your manager won't make a decision based solely on your relationship with them - they'll want to make sure the offer is fair and meets both sides' expectations.
At the end of the day, people hire people they like—it’s never just about skills and experience. During the process, remember to emphasize how much you love working with your team and why you think you're a great fit for this job. Negotiating a superb job offer verbally can lead to more money in the end!
However, it should be realistic and reasonable, tailored specifically to support your argument for a raise. Demonstrate how much of an asset or contribution you are making—not just quantitatively but qualitatively as well—to get a positive outcome from the negotiation.
Take the time to explain why you deserve a raise and make sure that you provide concrete evidence to back up your argument. This could include details such as the amount of success that you’ve achieved in your role, the number of hours that you’ve worked, or any extra skills that you bring to the job.
One way to do this is by providing an example. Have you seen someone at your company with similar experience who was able to negotiate their salary? Offer up the figure and explain why it's comparable to yours.
The more specific facts and figures that you can provide, the stronger your case will be. This is especially true when it comes to salary; refer back to NodeFlair Salaries and use verified tech salaries as reference points when making your case.
Be sure to think through how the raise aligns with the goals of your employer too - making sure the investment (higher pay) will be returned in greater overall performance and tangible results. Having these points thought out clearly can help make your case stronger.
And finally, practice what you plan on saying before going into the negotiation. On that note, remember that presentation matters - so make sure to exude confidence and professionalism throughout!
Now that you’ve done your research and prepped for the talk, let’s focus on the actual negotiation conversation.
Be concise yet clear when stating your request: “I’d like to discuss my current salary and how I can contribute more value...” is often more effective than asking for a raise out of the blue.
It helps if you clarify what the money is for too—are you thinking of taking on additional responsibilities or would you like an increase in base compensation?
As mentioned earlier, it’s important for you to come prepared with your desired salary range before entering into negotiations.
A target range should be based on what is fair within the industry based on experience and qualifications. Have a number in mind that best represents what your skills are worth in order to maximize what you are offered.
This may require some additional research, but it will be worth it in the end!
Using a script for negotiations can help to counter any job offer more professionally - after all, you want to demonstrate that you know your worth and there is no better way to do it than by having a script in mind!
For example, here is a simple text script suitable for a software engineer:
"Hi [Manager],
I've been working here at [Company] for [time] now and I just wanted to discuss my salary. During my time here, I've gained valuable knowledge and grown as a software engineer. On top of that, I'm also performing above expectations and I'm confident that I can continue providing great value for the company.
So, what I'm hoping for is to get a raise that reflects the work I'm doing by adjusting my salary to [salary amount] per annum. That's in line with the market rate standard for software engineers in Singapore according to multiple sources including NodeFlair Salaries.
Is this something we can work out?"
Your boss should be given time to assess your request and propose solutions too, so be prepared for back-and-forth dialog before coming to an agreement. Active listening is key throughout this process—it shows that you respect their input, plus it makes them feel like they’re part of this decision-making process too!
When asking for a raise, it's important to be ready for pushback from your manager.
Here are some common objections and how you can prepare for them.
"Thank you for considering my request for a salary increase. I understand that budgets can be tight, but I would like to discuss the possibility of a salary increase based on my contributions to the company.
Can we explore alternative options such as a performance-based bonus or additional benefits? I believe that my performance and achievements demonstrate that I am an asset to the company, and I would like to be compensated accordingly."
"I understand that tenure is an important factor in salary negotiations, but I have taken on significant responsibilities and contributed value to the company in a short amount of time.
For example, I was able to complete the XYZ project ahead of schedule and under budget, which saved the company a considerable amount of money. I believe that my achievements and potential justify a salary increase."
"I appreciate that my current salary may be in line with industry standards, but I have researched the market and found that individuals with similar roles and responsibilities are earning higher salaries.
In addition, I have taken on additional responsibilities and achieved significant results that I believe justify a higher salary. For example, I was able to increase sales by 20% in the last quarter, which contributed to the company's growth and success.
I believe that my contributions and accomplishments warrant a higher salary."
It's perfectly reasonable (and expected!) for your manager to not give you the full salary you desire. If that happens, don't be disheartened—there are other ways to make sure your effort and hard work are compensated.
You could ask for more flexibility when it comes to hours or working remotely or explore different ways to have a better work-life balance.
This doesn't necessarily have to be monetary—it could be something as simple as renegotiating your working hours so that they better fit in with family commitments, or having more control over when and where you work from day-to-day.
It's common for companies to offer bonuses or extra incentives (such as stock options) in lieu of a raise. These often grant employees more freedom in deciding how they want to manage their paycheck. So, if you're comfortable with it, talk to your manager and see what sorts of bonuses or incentives are available!
You can ask your manager for a meeting to revisit the issue after a certain amount of time has passed. Whether it’s been three months, six months or a year, it’s still worth trying again after proving yourself as an asset to the team. If there is potential for company growth, then your manager may be able to reconsider the raise request.
Another option is to request variable pay or even a new title. This will change depending on the type of job you do and how much value you bring to the team, but it can be something worth discussing with your manager if they are unwilling to give you a raise.
Lastly, negotiating growth opportunities such as mentorship schemes or management roles may also be an option.
If a promotion isn't possible at the moment, ask if there's another way for you to progress within the company—you could also explore options outside of your current role such as research assignments, teams to join, projects to pursue etc.
This not only helps advance your career but also demonstrates loyalty towards the company, without necessarily having an increase in salary being involved.
Asking for a salary increase is not an easy task, but it's one that is absolutely necessary in order to secure your future and progress. With these tips in mind, you can confidently approach the conversation with your manager, and the best part is that you're already prepared.
So, don't think twice before you take the first step and put yourself out there – with the right attitude and mindset, you’re sure to be successful. Head on over to your manager, ask for that raise and make your dreams come true!
Check out our latest Tech Salary Report to understand the latest salary trend before you enter your negotiation!
