A friend wants to re-negotiate his base salary to be within the range of peers in his field. We looked at a salary survey website and found that he is quite underpaid. Can a person re-negotiate their salary? Is it better to quit and then get re-hired?

A friend wants to re-negotiate his base salary to be within the range of peers in his field. We looked at a salary survey website and found that he is quite underpaid. Can a person re-negotiate their salary? Is it better to quit and then get re-hired?

Salary negotiation is not just reserved for new recruits. Anyone can negotiate their salary by asking for a raise. They must be well prepared with a deliberately planned strategy and a well developed supporting case to persuade the employer.

It may seem obvious, but if you have just recently taken on the job offer, or just recently received a raise then you should wait until some time has passed and you've proven yourself. It is very important to know your value before taking on any job.

Salary is not the only means of increasing your compensation package. You can also consider things like extra vacation, time off in lieu of overtime worked, and stock options as extra ways to add value to your compensation, and make it more easy for the employer to accept.

Consider taking these steps before you ask your boss for a pay raise.

1) Know the value of your skills in your area. Research multiple sources for salary data, and be aware that surveys conducted by HR will be more reliable than those that are self-reported by employees.

2) Know your value in terms of the contribution you add to the business. Also be aware of value adds you do in terms of saving company costs, delivering projects on time, and delivering quality in your work.

3) Get yourself ready to discuss this with your employer. You may need to educate them that you are below the salary range. Either way, you will let them know that you know what the market is.

4) Explain to the boss where you feels you fit within that range in terms of a percentile basis. Are you a top performer with lots of experience? Can you command a top percentile salary?

There are so many facets to salary negotiation. You should be prepared to do your research and know your facts. I highly recommend learning more about the art of salary negotiating and turn your career into high gear.

I highly recommend negotiating salary in your current job before considering leaving your job and trying to earn more money. This is particularly relevant if you are happy with your job aside from the salary.

One tactic that can give you an upper hand is to first get yourself another job offer. With that as your back up measure, you will have more leverage in negotiating salary.