• Tue, Dec 6 2011

8 Tips To Help You Negotiate For A Better End-Of-The-Year Bonus

 

QUANTIFY YOUR ACCOMPLISHMENTS

Katie Donovan, founder of EqualPayNegotiations.com, told The Grindstone, “My best advice is to be ready to list all your accomplishments in a manner that matters to management. Often what we focus on is what we did such as worked weekends instead of what the results of our weekend work was. As you prepare your accomplishments think of them in five buckets – network, alignment, awards, revenue, and costs. What people did you bring to the company as customers, vendors, partners, employees, investors, or advisers in the past year? What new skills did you gain in the past year to align with the company’s future goals? What untapped or unknown skills do you have that management should know about so they can be used? Did you receive any awards from the department, company, industry entity such as a trade association? What did you do to help gain revenue? What did you do to help bring down costs?”

Ritika Trikha, Junior Copywriter for CareerBliss.com says to try and measure achievements in numbers to provide clear-cut proof of your value to the company. “Show them that you’ve improved over time, and this will build a strong case for a higher bonus,” she said.

If you also have customer or client letters of recommendation, or letters of praise for a job well done, those should be added to your “my bonus” presentation, said Sandra Lamb, career, lifestyle and etiquette expert, and the author of How to Write It.

Rebecca Rapple founder of The Resume Revolution said by quantifying everything you are developing a comprehensive list of your achievements and contributions.”The more you can tie your work into increases in the top line or decreases in the bottom line, the more direct value you offer to the company. Start off by quantifying at an accomplishment level, and then look at the metrics for your work year.” It also helps to have all of this in writing during the actual negotiations. Rapple told The Grindstone, “Women are far more likely than men to back off in a negotiation. Between our lack of desire to sing our own praises and our stronger desire for acceptance and to be liked, we are far more likely to accept what is given. To combat these two inclinations, offering up a cumulative assessment of your contributions to a company. You can do this in a power point presentation or in a document (PDF it so that it can’t be edited.) The key is to communicate in a manner that your boss will be receptive to and to get all the information in one place, in writing.”

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