How to negotiate a higher salary at work
Only 54% of workers negotiated for higher pay when they were offered their most recent job
The thought of negotiating higher pay is enough to make any employee feel intimidated.
And as a result, almost half of Americans are completely skipping the conversation. A study by Robert Half revealed only 54 percent of workers negotiated for higher pay in their latest job offer.
More than half of the 2,800 employees surveyed said they didn’t negotiate because they were satisfied with the salary offered, while 18 percent wanted more money but felt they might lose the offer if they raised the topic with their boss. Another 18 percent felt uncomfortable negotiating altogether.
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Rich Deosingh, the district president of Robert Half in New York, told FOX Business those study findings were surprising, but it's clear why more employees are satisfied with their pay.
"Do your research, understand your value, speak intelligently about what you bring to the table and practice."
"Companies today, in a tight labor market in later years, are more in tune with offering higher compensation," Deosingh explained. "They want to attract and retain the best talent."
But for employees who may not be as over-the-moon with what they earn and want to negotiate, Deosingh offered sound advice: Be prepared.
"You have to do your research to get an understanding of what the position in the market is paying," he said. "Talk about the value you bring to the organization. Be professional. What you don't want to do is burn a bridge."
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For employers, Deosingh advised not to "lowball talent you want and need," especially when there are plenty of other available opportunities in the marketplace.
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Nine percent of employees in the study wanted to ask for more money but were unaware of how much the position paid. Deosingh suggested new hires who may be in the dark should always conduct research prior to an interview, like comparing job postings and networking with professionals in similar fields.
"It's never easy to ask for a raise, [but] it's OK to negotiate," he said. "You have to do your research, understand your value, speak intelligently about what you bring to the table and practice."
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Deosingh said if money is not on the negotiating table, employees and employers alike should -- and more frequently are -- negotiating for perks like working remotely, extra vacation days and higher education reimbursement.