Learn more about moneyandinvestments with this collection
How to close the deal
How to handle objections
How to present your value to your employer
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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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' techni...
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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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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.
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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 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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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.
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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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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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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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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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'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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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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Total food specialist. Friendly webaholic. Coffee fan. Proud analyst. Tv expert. Explorer. Travel nerd. Incurable beer advocate.
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- 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.
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