Highlight rare skills

Highlight rare skills

Take an inventory of your unique selling proposition.

Present the unique skills and achievements you bring, particularly ones that are in shortage industry-wide.

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A 30-step plan to getting the raise you deserve

businessinsider.com

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Actually deserving the raise
"If you were to leave your company tomorrow, would there be any meaningful disruption to the business? If the answer is no, you don't have any leverage to get a raise." -- Jason Nazar

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Qualitative reasons

If you led training, introduced new procedures, or became a trustworthy person during a year with tumultuous office politics, you should include that in your discussion.

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How to ask
  • Set up a meeting — in person. Approach the subject diplomatically, with an upbeat, positive demeanor.
  • Practice beforehand. Practice the discussion until it's free of emotion and nerves.
  • Consider using the 'gentle startup' technique: "When I calculate the value I've contributed to this company, I feel happy to know that I've added $$$. Now, I need my salary to reflect my contributions."

  • Explore the data of how you've exceeded. Don't spare any detail in how you've benefited the company.
  • Deliver with confidence. You have to sell yourself, just like it's a job interview.
  • Don't compare yourself to other colleagues, focus on your own career path and goals.
  • Remember it's not about you. Connect yourself to the company, and how you fit in there.

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 'I need more money' is not a reason

Don't discuss your own needs during a salary negotiation.

It is not your employer's interest, their personal interest, to actually really truly care for that, and it's not necessarily going to make them open up the pockets of that company to pay you for that.

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The perfect time to ask
  • If your performance review is coming up, plan to raise the topic after receiving favorable feedback.
  • If you don't have a performance review on the horizon, you could schedule a salary discussion a few months before the yearly budget is set.
  • Ask before or after a major success. "If you've just created a whole bunch of value for your company..."

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How much to ask for
  • Look at what your role pays industrywide. Online tools can help you learn what the median pay is for industry, position, and location.
  • Avoid asking your colleagues what they're paid.
  • Avoid asking for an outlandish increase. Your boss may feel you are totally out of touch with what you are worth and with the company's budget.
  • Decide on a target percentage increase. Expect a 3% raise if you met expectations or a 10% - 20% if you're exceeding expectations.
  • Know the minimum you'll accept for a new salary and stick to it.
  • Consider if you would be okay with keeping your salary, but receiving other perks.

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Understand the goals
It's important to have goals that you can use to measure your success. 

Make sure you and your supervisor both understand how success looks in your organization and what is expected.

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Meeting or exceeding goals
"You should always link individual performance to departmental goals, and then to overall company goals and how what you've done directly impacted each." -- Adam Ochstein

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Don't ask

... if you've been at the company for less than a year.

If your responsibilities are dramatically different from what was outlined in the interview process, you might be eligible for a raise.

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Prepare a case

 ... based on how you've quantifiably exceeded your goals.

Find the numbers that prove your contribution to the workplace. Data should comprise the bulk of your salary negotiation because it's hard proof of how valuable you are to the company.

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After you get the raise

Don't forget to follow up over email.

Mention your excitement to continue making great contributions to the company. Spell out all changes to your compensation package and when they will take effect.

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Prepare your response
  • If you get turned down, ask what you need to do to improve. "Get as much specific feedback as possible so you can figure out what steps you need to take to get to the next level,"
  • Put something on the calendar for a few months out. Ask to revisit the issue in a few months if you don't get the raise you ask for.
  • If your company can't pay more due to budget constraints, ask about increased paid time-off days, flexible work arrangements, a one-time bonus, or other options.
  • Keep an open dialogue. "Asking for a raise should be a natural part of an ongoing conversation."

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While frugality is undoubtedly important in personal finance, boosting your savings can also be done by earning more money.

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  • Your knowledge and skills.
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  • Your ability to sell yourself and get paid what you're worth.

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A raise
... is a recognition that you’re now contributing at a higher level than when your salary was last set. 

A raise isn’t a favor or a gift; it’s a way for employers to pay fair market value for your work and to keep you around because otherwise you’re eventually going to want to find a different job that does pay you competitively.

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How to Ask for a Raise

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