In a time where layoffs and mandatory retirement are common in jobs and with organizations where this was not the norm, how do you ask for more? More money and letting your employer know what you think you are worth, then negotiating confidently for it, can be truly tricky business. If you have been diligent in and faithful to your job duties and practice consistently delivering more than expected, then you do deserve more. Do not let bad timing stand in the way of you getting what you deserve. Like many things, asking for a raise is an art, not a science. Here’s how to ask for what you deserve (and get it!).
1. Know your worth
Knowing your worth is foundational. Research the market rate for your role and experience level. You need to know where you stand in your field or industry.
Highlight your accomplishments. Did you land a big account? Did you deliver world-class customer service and always come in at five out of five stars? Or has your star consistently risen due to a mix of talent, leadership, and knowing what was needed beyond what was expected, with stellar follow-through in more than a few touch-and-go situations? Whatever your victories, now is the time to remind your employer how you made a difference that affected the goals, goods, services, and bottom line of the business. Link each of your accomplishments to how they benefited the company.
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This is how you confidently communicate your worth to your employer: by focusing on your contributions to the company. This is business, not personal, so as compelling as your financial and professional needs may be to you, this is not about that. This is an opportunity to make a compelling case for going beyond receiving only managerial praise or promotion without a salary increase, to having the powers that be take action, put their money where their mouth is, and pay you for your true value in your job.
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2. Prepare for the negotiation
Now that you have done your research, you need to prepare for the negotiation. Set a target salary range. Prepare talking points, schedule the meeting, and dress confidently and professionally.
Just in case you did not know, now is not the time to wing it or play it by ear. Your employer’s time is valuable, and you want to lead them to make a positive decision to allocate more of their resources to your salary as their employee. Be prepared and make every second count.If you tend to get nervous during presentations, consider preparing a report in a folder with a clear cover that you can provide to your employer to refer to.
Keep it simple and short. Think: bullet points. This will make you stand out, and it comes across as polished and prepared. They do not need to know that you’re relying on this document to keep your nerves in check and touch on all of your talking points.
Additionally, if they do not provide an answer at the end of your meeting, you will have given them something to reflect on as they consider whether to grant you a raise. This also helps them determine how much of a raise to offer, based on the experience you bring to the organization and the ways in which you have contributed to its growth since you joined. This will be clearly spelled out in your report.
A report is professional and speaks for you each time they read it after you are gone and long after the meeting is over. Lastly, it spells everything out in black and white (and colored graph, table, or pie chart, if you dare) and resolves any doubts. This is a presentation. Focus on your value and your positive effect on the success of the organization, and your outcome should be favorable.
3. Negotiate confidently
Now is the moment you have been waiting for: negotiating confidently. This is achieved by leading with gratitude. You already have a job. Many do not. You are paid for your work. Give thanks for these two very important things and remember them as you negotiate. You have been doing and deserving more for a while, and your worth has increased, but your salary has not, however. Reconcile any competing feelings against asking for more. You can be grateful for a job and its salary, and still want and deserve more pay. This is why you can negotiate confidently and without any reservations.
You can be assertive and direct, not acting like you are less than what you are worth, and be satisfied with begging for scraps. If you do not speak up for yourself and be straightforward about getting what you deserve, you cannot count on anyone else to be as directly influential or as knowledgeable about you, your role on the job, and what you have done, as you can. Focus on your value whenever you start feeling nervous or less than your best, most deserving, utterly optimistic self (or at least manage to remain so for the duration of this meeting).
Be flexible and open to compromise. Would you accept stock options in lieu of increased pay? A company matching retirement fund? Less of a co-pay for better, more comprehensive coverage by your health insurance? More vacation or personal days? Or a cash out on unused sick leave at the end of the year? Your employer may not be able to add to your paycheck in immediate dollars and cents, but may offer improved benefits or a new title with more money tied to profit sharing or a quarterly performance bonus, for example.
Lastly, you should not be afraid to walk away. Negotiation is the process, and sometimes, no matter how much you might bring to the table, your employer decides it is in their best interests to keep you at the same rate of pay if you get to keep your job. They may decide to let you go since you are dissatisfied with the pay and hire someone with less experience who they can pay less. Negotiation requires walking a thin line that is part strategy, finesse, self-confidence, and preparation. It does not always have a fairy tale ending, however.
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4. What to do during the negotiation
During the negotiation, listen carefully, stay calm and professional, ask questions, and negotiate beyond salary. Remember, some things may mean more than money, like flex time, tuition-free education, remote or hybrid work, or getting the day off on your birthday. What counts is what matters to you.
If you get what you deserve, go out and celebrate as a skillful self-advocate. Congratulations! If things go well after your powerful ask, you may get more respect for what you do and kudos on how well you articulated your value. Keep contributing and documenting what you do and how well you excel at your role across the lifespan of working for your employer.
Enjoy the fruits of your labor, but do not get content or become lazy. If you lost out on getting the raise (and/or lost out on the job), review and reevaluate things as a learning experience and prepare to do things differently or better the next time. Either way, it takes courage to ask for what you deserve. Give yourself a platinum star for effort and a gold star for personal excellence requiring valor.
