Salary negotiations can often seem like a thorny, complex topic at best and really uncomfortable or even pushy at times for some folks. In fact, according to a recent Salary Negotiation Study by PayScale, of the 31,000 employees who completed PayScale's Employee Survey between October 1, 2014 and November 24, 2014 only 43% (on average) had EVER asked for a pay raise.
What is interesting about the data is the range within that average percentage. Depending on current salary, gender, age, industry, degree level, generation, and even which state you live in, the percentage can be as little as 31% or as high as 54%. For example, only 31% of those earning $10,000 to $20,000 annually reported having requested a raise versus 51% - 54% of those earning over $110,000 per year.
For anyone feeling challenged about how to negotiate a salary, PayScale has compiled a Salary Negotiation Guide with three easy steps in the process: research, strategize, and negotiate. It also includes an in-depth analysis of the Salary Negotiation Study.
Learn how to successfully navigate the salary negotiation process via 20 articles, written by careers industry gurus, and segmented into the research-strategize-negotiate steps in PayScale’s Salary Negotiation Guide. This 3-step structure can empower you to replicate the salary negotiation process again and again throughout your career.
Why bother? Of those who did ask for a raise, 75% (on average) either got what they asked for or at least some amount of raise; only 25% (on average) got no raise at all. Think about what this could mean for your lifetime earnings!