“Those that stick with one company forever get paid less than those that switch employers every once in a while.”

Sounds familiar? I hear this fairly often, mostly from IT guys and managers. But is this really the truth or just the result of bad negotiations?

When is the best time to negotiate? During yearly / quarterly reviews? And with the news full of layoffs and talks about recession—should one really negotiate a raise? Or stock options and bonuses?

Fact is—there is no best time. Of course you are starting with a handicap when everyone talks about recession, lay-offs and budget cuts. But on the other hand, can a business survive or even strive without the right people?

What are the biggest blunders?

• Doing what everyone is doing. If nobody asks for a raise you go. If everyone goes—you have to wait for a better time. After all, you really do not want to be one of many asking for more…
• Not knowing the own market value. It’s amazing how many employees have no clue! And telling your boss you need more because everything around you becomes more expensive or everyone becomes more is of no help either. She already knows that herself!
• If you threaten your boss—she might very well take you by the word and you find yourself without work! Your boss rather looses you then her face. Better: “I know my market value and rather get it here than somewhere else!” .
• The business is not about you. Besides you, does anyone really care how successful you are within the company? Prof that you your skills are an investment for the company; make sure, that your boss knows how valuable you are. Average work does not give enough reason for a raise. Be always better than your co-workers. Keeping notes allows you to prove your claims.
• If your boss has to reason your raise to her boss or the board—the more ammunition you gave, the better your case. So tell your boss your biggest achievements, but make sure that you are not looking like a bean counter—that will backfire.
• If you can’t get a raise now: Setup the next meeting! Or do you really want to wait forever for the next negotiation?
• Stop being afraid! Are you ready to ask? Are you prepared to walk, if there are no options anymore?

Remember: Even the smallest raise is better than no raise at all!

Tags: ammunition bean counter best time better time blunders boss budget cuts clue co workers handicap layoffs negotiation quarterly reviews recession stock options truth