- June 22, 2021
How to Negotiate Salary if You Work Remotely
We witnessed many changes shake up the business world last year. One of the most dramatic paradigm shifts we saw was in the way companies viewed remote work. Before the pandemic forced everyone to rethink their strategy, remote work was a rare beast. It was a privilege enjoyed by very few white-collar workers.
Now, pretty much every job that can be outsourced to a remote workplace gets this treatment. In many cases, companies have even started recruiting exclusively to fill remote positions.
Naturally, competition for these positions is fierce, as the benefits of working from home are significant. This is why companies only consider the best of all applicants for the job. Luckily, you can easily show them that you are just such a candidate with a slick and stylish CV made by the professionals at PurpleCV. Having a well-polished CV is the first step towards impressing your prospective employer.
And you do want your employer to be as impressed as possible, as you will need all the help you can get during salary negotiations. Said salary negotiations are especially tricky for remote workers. Studies show that missing out on office life reduces your chances for promotion dramatically.
Still, regardless of whether you’re a fresh remote recruit or a seasoned remote employee, you will want to negotiate a fair wage. Here’s how you do that.
Do Some Due Diligence
Research how your job usually pays. Looking at a few job ads can give you some ideas of what the “market average” is. Use online resources, such as job boards and salary comparison websites in your research.
Once you figure out what the companies’ preferences and expectations are, consider your own situation. How does what’s on offer relate to your own needs and the cost of living in your area? Doing this research well will help you set your “anchor”.
Consider the Company’s Position
Figuring out whether or not your employer can actually afford to give you a better deal can be also a bit tricky. With COVID-19 still complicating matters, even large corporations that may seem stable could be hard-pressed to do so.
Pinpointing the right moment to start negotiations with an SME can be even more problematic. Still, if you keep an eye on how the company is doing, you should be able to choose the moment for your pitch well. Keep an eye out for the conclusions of periods of intense work, or instances when bonuses get handed out.
Set Your Anchor Straight
Chief among the steps you should take to prepare for your salary negotiations is to set your anchor right. The due diligence you’ve done so far should give you an idea about what sort of salary you should and could be aiming for. That’s your anchor – the sum you’re happy with.
Getting the anchor right can be a bit tricky since you’re working with incomplete data. Still, if you try to be reasonable, you may have a chance of improving your lot. Just make sure your opening bid is not unrealistic, as that will likely kill the negotiations and create tension.
Compose a Good Pitch
Think long and hard about your presentation and tailor it for the greatest effect. Choosing the right tone and tenor may be challenging, especially if you don’t know the other negotiator very well. This is one of the many problems remote workers face. In such a case, you’d probably do well if you present it in a courteous, but firm way.
Rehearse giving it while being calm and collected as possible. You don’t necessarily have to know it verbatim, but it’s important to be able to keep to the spirit of your pitch even if the conversation changes.
Don’t Be Afraid to Broach the Subject
Many employees dread the very idea of negotiating salary increases. Remote employees find this especially problematic. They often don’t have the opportunity to build a personal relationship with their employer. This can make them reluctant to negotiate.
Most of the fears an employee may have about negotiating are unfounded. First off, employers expect to negotiate with their workers. What’s more, good work deserves fair compensation. If you pick the right moment and play your hand right, you should have no problem convincing them that you deserve more.
Consider Other Means of Compensation
When you make your promotion pitch, you should prepare to answer some tough questions. “What happens if We don’t increase your salary?” is one of them. That’s not something anyone wants to hear, but you should still prepare for it.
Still, just because the company can’t give you more money doesn’t mean you should go back to work empty-handed. Try to negotiate alternative benefits, such as a signing bonus, or more paid time off. Receiving stock options or equity in the company may also be an excellent addition to your salary.