Last updated on Mar 14, 2024
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Know your worth
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Pick your timing
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State your case
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Listen and respond
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Handle the outcome
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You’re feeling overworked and underpaid. How can you negotiate a raise that reflects your true value? If you’re in this situation, you might be tempted to either accept the status quo or quit your job. But there’s a better way: you can learn how to confidently and effectively ask for what you deserve. In this article, we’ll show you how to prepare, present, and handle a salary negotiation with your boss.
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- Hayim Altschuler, MSHRM PeOps at Headspace
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- Neha Gandhi Advisor | Investor | Fractional Executive | I'm a seasoned operator, strategist, and team builder with a proven track…
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- Tina Chernodub Project Manager @ CyberFox | Productivity Coach | Certified Notion Consultant
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1 Know your worth
Before you approach your boss, you need to do some research and self-assessment. Find out what the market rate is for your role, skills, and experience. You can use online tools, industry reports, or network with peers to get a realistic range. Then, evaluate your own performance and contribution to the company. How have you added value, solved problems, or exceeded expectations? How do you compare to your colleagues or competitors? Gather evidence and examples to support your case.
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- Hayim Altschuler, MSHRM PeOps at Headspace
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Here are three things you should always incorporate:1. Research: benchmark what others with similar titles/duties, years of experience, and who live/work in similar geographies/types of companies are being paid.2. Formulate a coherent case: in addition to the "fairness" approach embodied by benchmarking, you'll want your case to highlight specific, recent achievements where you brought more value than was expected to your team, product, company, etc.3. Ask, and follow-up: if you do not prioritize your own raise request, don't expect that others will do so for you. You need to ring the bell if you want someone to answer the door :-)
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- Patricia Garza Alejo Coach y Facilitadora en CBC/Coach (PCC) por la (ICF)
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Creo que para negociaciones es importantes, primero negociar contigo mismo: ¿sabes cuánto vale tu experiencia? ¿qué es lo que en realidad quieres, al solicitar un aumento? ¿qué es lo no negociable o EL límite de negociación para tí (BATNA/MAAN)? ¿pides lo que quieres o lo que crees que te dará lo que quieres? Muchas veces, ir a una negociación sin tener claro estos puntos es no estar listo para negociar. Cuando te preparas para una conversación, la energía de tu seguridad despertará el interés y la curiosidad de tu contraparte, queriendo ponerse a tu lado para mirar hacia donde tu miras. Cuando el otro puede mirar hacia dónde miras, y percibir el ganar-ganar en la negociación que ofreces, el porcentaje de "venderle" tu "producto" aumenta
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Feeling overworked and undervalued is challenging, but negotiating a raise requires preparation and confidence. Start by researching your market value and highlighting your contributions. Schedule a meeting with your manager to discuss your concerns professionally. Present evidence of your achievements and how they've benefited the company. Be clear about your desired salary increase and justify it based on industry standards and your performance. Remain open to feedback and be willing to negotiate terms that work for both parties. Remember, advocating for yourself is essential to ensure your true value is recognized and compensated fairly.
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2 Pick your timing
Timing is crucial when it comes to negotiating a raise. You want to choose a moment when your boss is in a good mood, when the company is doing well, and when you have a recent accomplishment to highlight. Avoid asking for a raise when your boss is busy, stressed, or distracted, when the company is facing challenges or losses, or when you have made a mistake or received negative feedback. Ideally, you should schedule a meeting with your boss well in advance and let them know the agenda.
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- Tina Chernodub Project Manager @ CyberFox | Productivity Coach | Certified Notion Consultant
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The timing of negotiating a raise is crucial and should be properly planned. You should consider not only your boss's mood but also the company's schedules and duties. Discuss the possibility of raising your funds or seek advice from HR.
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3 State your case
When you meet with your boss, start by expressing your appreciation and enthusiasm for your work and the company. Then, briefly summarize your achievements and impact, using specific numbers and examples. Next, state your salary expectations, based on your research and self-assessment. Explain why you think you deserve a raise, and how it reflects your value and potential. Be confident, polite, and assertive, but not aggressive or entitled. Avoid making threats, complaints, or comparisons.
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- Neha Gandhi Advisor | Investor | Fractional Executive | I'm a seasoned operator, strategist, and team builder with a proven track record of building and scaling deeply engaged brands—from Refinery29 to Girlboss.
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Frame your case for an increase in comp around the value you drive for the business. Your ask is almost never about the fact that you need it or that you are unhappy or feel under-appreciated (even if those things are true), but that it's in the best interests of the business to retain you. Draw a clear line from the work you do to the improvement of a key business metric (revenue is obviously great and the easiest case to make but user growth and/or retention, margin optimization, or operational efficiency are also real and quantifiable things many non-revenue drivers can point to) and show how retaining you as an employee will continue to drive growth looking out to the next 12-18 months.
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Build a strong case with evidence. One thing that can be a daunting task but is so helpful is to track on a daily or weekly basis what you accomplish and how it matches up against your job description. Many managers do not have very good systems to observe and track how their team members are doing and they may fall prey to recency or primacy biases. So, it's up to us to track how our work matches up to our job description and, especially, where it goes beyond, where we assume more responsibilities, ventured out on our own initiative, and achieved great results. These are the best opportunities for us to justify greater impact and therefore even a higher raise. It's all about making a true case and being professional about it.
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Role play this scenario with someone you absolutely trust and who believes in you. Saying it out loud and practising it will help you to identify where you struggle in your delivery and help you to fix it so that you can go into the meeting strong and confident.
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4 Listen and respond
After you present your case, listen carefully to your boss’s response. They might agree, disagree, or counteroffer. They might also ask you questions, give you feedback, or request more time or information. Whatever they say, acknowledge their perspective and show respect and understanding. If they agree, thank them and confirm the details. If they disagree or counteroffer, ask them to explain their reasoning and negotiate further. If they need more time or information, follow up with them and provide what they need.
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- Tina Chernodub Project Manager @ CyberFox | Productivity Coach | Certified Notion Consultant
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Active listening is essential in all situations. Try to understand your boss's perspectives, principles, and motivations. Consider them right away to effectively communicate your worth to your boss. Remember to maintain a professional and assertive demeanor, even in the face of disagreement or a counteroffer, to increase your chances of a promotion.
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5 Handle the outcome
The outcome of your salary negotiation might be positive, negative, or mixed. If you get the raise you wanted, congratulations! You should celebrate your success and continue to deliver value and excellence. If you get a lower raise than you wanted, you should weigh the pros and cons of accepting it or rejecting it. You might be able to negotiate other benefits or perks, such as flexible hours, training, or bonuses. If you get no raise at all, you should ask for feedback and guidance on how to improve your chances in the future. You might also consider looking for other opportunities elsewhere.
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6 Here’s what else to consider
This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?
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- Andrea Horvath Ready to DETERMINE and TRANSITION to Your Soul-Aligned Career or START that Business? 💥 | Crossroads to Career Clarity | Aligning you with what lights your soul on fire 🔥
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When negotiating a raise it is important not to OVER explain and justify why the raise is warranted. Pick a couple of really tangible points as to your justification for the request, and then let it go. Keep reiterating those points. When we over-explain or over justify, we give our power away and we have the opposite effect of what we desire. We water down our reasoning.My second suggestion is to be ok with silence. If there is awkward air time, let it be.
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