Why Now May be the Best Time to Negotiate Your Salary
Have you recently thought: “when is the best time to negotiate my salary?” Do you do it right before you boss leaves for vacation? After the quarter’s earnings call? On a full moon? When exactly is the best time to ask for a raise?
While all of the above may help you in determining the best time to negotiate – here’s a few reasons why I believe right now is as good a time as any to ask for that raise.
- It’s summer. That’s right: summer. I’m not alone in this – but I believe that summertime helps to put people in a better frame of mind. The sun is shining, people are outside and taking time off of work. Take advantage of the good cheer and prepare your case for a raise.
- The economy may be headed south again. If you’ve been reading any of Charlie’s posts on what is happening in Greece, the stall in job openings here in the US and election season upon us – we could be headed toward another downward slide. Best to do your bidding now before it gets ugly again.
- Employee’s are shopping around. It seems the summer also provides a season of transition for folks. I think we’re more apt to look for other opportunities and be open to the possibility of moving. I’ve seen this at my own place of work – folks are starting leave the company, plus we are bringing new folks on-board.
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- You were patient and long-suffering through the Great Recession. For the past few years, many folks have had to endure some pretty trying times due to one of the worst recessions in history. Hours have been cut, pay sliced, annual raises nixed, 401k matching paused AND worse yet, jobs have been axed. While many of us are grateful to have made it through without having encountered heavy “losses” – it may be a good time to evaluate your position with the company and to collect on some passed up rewards.
- Time for that fear of rejection and “people-pleasing” to go. I’m sorry to call you out on this one – but that fear of rejection hasn’t been doing you any favors. It’s time to ante-up and kick it out the door! Be confident in the work you’ve done at your job and your research to back-up your salary increase. And, let the chips fall where they may.
Of course every situation is different – as well as every industry. Yours may be in a boom – while others are in a bust. Make sure to take these things into consideration before negotiating for more money. Good luck! You got this.
Have you been able to successfully negotiate your salary? Why do you think you were successful?