Fight inflation by negotiating for more money at work

Is inflation taking a toll on your salary? There is a solution: negotiate for more money.

As companies are reluctant to hire and retain employees, employees are in the driver’s seat right now.

“The entry level is paying $ 20 an hour, $ 23 an hour,” said job hunter Ramar Burns. “That’s a good salary!”

Burns is considering a variety of offers for warehouse work.

But job counselors say don’t take the first offer.

They say it should take a minute to consider the schedule, childcare costs, and travel costs.

How to ask for more money

Andres Lares is an expert in salary negotiation Shapiro Trading Institute.

“If you’re doing the same thing you did last year, you’re doing less now,” he said.

As consumer prices are rising, he says now is the right time to demand more compensation.

He suggests:

  • Write the script to find out how much you will ask for.
  • Make a “rehearsal” of your presentation.
  • Use high inflation, now close to 10%, as a reason to demand more money.

“Hey, I’d rather get a raise,” you can now say, “I’d like to get a raise because inflation is x,” he said.

But Lares says people need to do their homework first.

To find out what others are doing in your position, we encourage you to check:

  • Glassdoor.com
  • Soldata.com
  • Payscale.com
  • Indeed.com

“Ten, 15 years ago it was harder,” he said. “You didn’t have much information.”

Ramar Burns ’employment adviser, Adam White, says he’s wondering how far you can go in five years.

“I would really encourage people to look at the growth path of companies because there is a lot of upward projection you can make,” he said.

Burns is keeping these tips in mind in his salary negotiations.

“You know what the cost of living is, you know what your expenses are. Negotiate your salary,” he said.

As a result, this is the best time of year to ask for more than a few extra dollars so as not to waste money.


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