Negotiating your salary at a current job can be a little intimidating, especially if you’re not sure of what to ask for. But it doesn’t have to be!
The first thing you need to do is research. If you’re asking for more money, you need to know what other people with your experience and skills are making in your area. You can do this by searching online or talking with friends who have similar jobs.
Next, think about what you need the money for. Are you supporting your family? Paying off student loans? Saving up for something big? It’s important that your request aligns with the priorities in your life—otherwise, it will feel like a burden when it’s really something else entirely.
After that, start thinking about what makes YOU valuable as an employee and how that value relates to the work that needs to get done around here. Finally, come up with a number that represents those things (and only those things) and don’t be afraid to ask for it!
How To Negotiate Salary At Current Job
Asking for a Raise and Negotiating Salary With Your Employer
Your annual review may give you butterflies or no worries at all. Either way, you’d like to take a more active role in determining your salary increase. Asking for a salary increase is an extensive and delicate process.
We’ve got the steps you can take to make your case why you should get the raise you want.
Asking for a Raise: Prep
To give yourself the best chance of getting your desired salary, take some time to put together a compelling argument that demonstrates why you’re worth what you’re asking for with facts that back those arguments up.
Do Some Recon
Before you approach the subject of a raise with your boss, make sure you conduct an honest and insightful performance review on yourself. Is it realistic for you to expect a raise right now? Did you really do as well as you think you did?
One way to help yourself conduct your self-evaluation is to keep track of all of your accomplishments during the year so you can review them at the end of the year (or any time you want). A simple document can do the trick. Jot down any achievements or accomplishments you want to remember (with a date!).
Then every few months, review the document and describe the impact the accomplishment had on your team or the company. How was it positive? How did it benefit everyone? A deep dive into your performance will help you better explain why you deserve a raise.
But your performance isn’t the only thing you need to evaluate. You also need to evaluate the company’s performance. Has it had a banner year? Or, is there an indication that the company’s present financial situation isn’t so rosy?
You may not have access to company financial information, so identify ways you saved or made the company money in the last year. Will that savings continue? Can that help support a salary increase for you? This may help bolster the argument that you deserve a raise—and that the company can afford it.
Know Your Worth
Doug Ebertowski, Career Coach at FlexJobs, advises this, “Make sure you have a general understanding of what a typical pay range is for jobs similar to yours, not only in a broad sense but specifically within your local market.”
Start by researching salaries for your job title and years of experience in your metro area on Glassdoor, PayScale, or Salary.com.
However, Ebertowski also cautions that your total compensation package includes more than your wages. “Other benefits such as PTO and insurance must be factored into the equation.” So, for example, if you don’t have to pay for your insurance coverage because your company covers the full amount, you need to keep that fact in mind when determining the amount of salary increase you’re requesting.
Practice Your Pitch
Write down key points of your proposal, noting your accomplishments and potential for future growth, and talk through them aloud. Hold a trial discussion with a trusted friend or family member, and ask for feedback to improve your pitch. As always, practice makes perfect.
Create a Visual Aid
Gather up all of your evidence and create a “brag sheet.” This brag sheet isn’t a simple accounting of all of your accomplishments. Your brag sheet helps explain why you should get the raise using clear, concrete examples of what you did and how it benefits the company. Use the STAR method to help identify and quantify these examples.
During the negotiation, you can refer to the brag sheet to help you remember the key points you want to make. And, it’s something you can leave with your boss after the negotiation, so they have something to refer to when they consider your offer. It’s also something they can bring to their boss to help support their arguments for your raise.
How to Negotiate a Raise with Your Employer
You’ve practiced, you’ve planned, you’ve pulled your brag sheet together. Now, it’s time to negotiate. However, Ebertowski cautions that during a negotiation, employees should “keep in mind that this negotiation involves two individuals who have a mutual interest in this working relationship. Between the two of you, finding a mutually beneficial agreement is truly the best outcome.”
Put another way, winning isn’t everything. Your goal is to compromise with your employer and find the best solution for both of you.
Timing Is Everything
Try to schedule this meeting about three months in advance of your annual review. That’s when upper management is deciding who gets what raise. If you make your case too late (like during your review), you may not be able to get that raise no matter how convincing your argument is because the money is already spoken for. Making your case before the amounts are earmarked makes it more likely you can get the raise you’re hoping for.
Don’t Apologize
It’s natural to feel uncomfortable in a negotiation situation. Most people dislike the process and “feel bad” about asking for anything. Therefore, many people pepper their statements with “I’m sorry,” “I apologize for this,” or similar statements of regret. When you apologize for asking, you weaken your position, making it less likely you’ll get what you want.
Be Specific
A salary range seems like a safe bet. It shows that you’re flexible, collaborative, and open to discussion.
While that may be true, it may not be your best strategy.
Instead, offer an exact number. You may still have to negotiate the number, but by offering a number and not a range, you could end up with a higher raise. One study found that individuals who used a single number (instead of a range) ended up with starting salaries that were, on average, $5,000 higher than people who suggested a salary range.
Keep It Professional
There may be personal reasons why you’re requesting a raise. But, these reasons may not matter to your employer. They could, in fact, undermine your negotiations and future employment.
Your personal life is not relevant to your salary negotiation. Stick to the facts and focus on your professional accomplishments. Talk about how valuable you are to the company as an employee and how your individual contributions improve the team as a whole.
Stay Calm
No matter how the negotiation turns out, don’t lose your cool. If you don’t get what you want (or anything, for that matter), act calmly, politely, and professionally. Thank your boss for hearing you out, and leave it at that.
There may be legitimate reasons why you can’t have a raise right now. Try to see it from the company’s perspective before you assume you’re being shortchanged. And, if there aren’t good reasons, it might be time to look for a new job.
If You Don’t Get a Raise
Money isn’t everything (believe it or not). If your company can’t offer you the salary you want, have alternative perks you’re willing to work with. Can you work remotely more often or permanently? What about working flexible offers? How about an extra week of vacation?
Get the Raise You Want
While you may dislike doing it, learning how to negotiate a salary or raise will benefit you in the long run. Even if your employer can’t accommodate your needs, it shows initiative and that you want to take the next step. From this, your employer may be able to put you on a path for a promotion to make your pay increase possible. Or, give you the raise you want quickly. You don’t know unless you apply yourself and tactfully make your case!
