Reference no: EM132869231

It is important for you to effectively negotiate a salary for a new job and to be able to effectively negotiate a pay raise. A key aspect of both negotiations is to be prepared with knowledge. It is important to know the market and what current colleagues are making in the field. You need to know your own value. It is important to consider if benefits (e.g., pensions) or long-term incentives can offset a lower salary. When preparing to negotiate a pay raise, you should consult current colleagues, former colleagues, and/or recruiters to determine an appropriate pay range for your job in a company of your size and industry.

Please respond to the following:

1. Would you feel uncomfortable asking your boss for a raise? Explain why or why not.

2. Discuss how the principles you studied in this chapter could be applied to make you more comfortable with the process of negotiating a pay increase.

3. Besides being unprepared, what do you think are mistakes that people often make when negotiating a raise?