How to Negotiate a Higher Salary if You're Already Employed (2024)

FAQs

How do you negotiate a higher salary with an existing employer? ›

It's crucial to approach salary negotiations as an internal candidate strategically. Rather than accepting a salary increase based on your existing pay, encourage discussions based on market rates and the value of the role you're transitioning into.

When asking for additional compensation, be sure to provide one to two solid examples of why the company should invest more in you. It's important to avoid asking for more money without any reason, much as you wouldn't spend more of your money without understanding the value of the product.

During the salary negotiation process, be sure to present the research you've done, such as industry benchmarks, as well as any attractive competing offers you may be considering. It's also smart to justify your request based on any unique skills or experience you possess relative to other candidates for the job.

Feel free to adjust it to your liking: “Thank you so much for the offer. I'm really excited about the company and the role. I want to be upfront with you that the salary is lower than I was expecting based on my skills and experience.

To ask for a counter offer politely, start by expressing your gratitude for the job offer and your enthusiasm about the opportunity. Then, explain your reasons for seeking a counter offer, emphasizing your qualifications and what you can bring to the organization.

So, can you lose a job offer by negotiating salary? Technically yes, though it's highly unlikely if you do it right. One thing is for certain: you won't get what you want if you don't ask for it!

How to ask for a higher starting salary example? ›

I am delighted about the opportunity to join your team. After careful consideration, I'd like to request a higher salary of (desired salary). My research has shown that the average salary for comparable positions with my experience is around (market salary range).

When you write your salary requirements, you should include a range and not a specific sum. For instance, if you would like to make $35,000, then you should state that your salary requirements are between $30,000 and $40,000, rather than $35,000. This way, there is an opportunity to negotiate.

Your target number should always be more than the salary range you found in your research. Let's say the offer is $50,000. Based on your research, you know you should be making $60,000 to $65,000. So the target range you present in the negotiation process should be something like $68,000 to $72,000.

Desired salary is simply the amount of money you'd like to make at your new job. It's also the realistic amount of money you expect to make at your new job based on your level of skill and experience.

The most common way to get a counter offer from your current employer is to share with your manager your intention to leave the company. When your employer is faced with the prospect of losing a valued staff member, they may be motivated to hold onto you by making a generous offer.