How many of you out there have actually negotiated more money? Many people shy away from asking for more money because of the fear of rejection.What if they say no?What if it makes it awkward with your boss?Well, I’m here to tell you that you can do this. It’s actually a very normal thing to do and it may not be completely comfortable, but it doesn’t have to make things awkward. I’ve done it myself and got the raise. If you want to learn how to confidently and successfully ask for a raise, this article is for you. I will share three practical strategies and some dialogue for your next negotiation.Do your research. It goes without saying that you need to know if the salary you are asking for is within the average or market range. If you don’t know for sure, do some basic research online. I would go to multiple sources including LinkedIn’s salary tool, as well as Salary.com, Glassdoor.com and similar sites. Make sure you take into account your experience level, location, education, company size and so on. There are lots of factors that influence salary, sometimes more than people think. Make sure you educate yourself. One of the most accurate ways to salary research is through your network. Find out what other people doing similar work get paid. This is even better than going online, so try doing both!Focus on accomplishments. Show your value. The argument you make for the extra money should be based solely on your accomplishments and value. This is what employers care about. How are you performing above average? You want to be able to demonstrate that you have taken on additional responsibilities, as well as provide specific details about your accomplishments. Share examples of projects you have completed and how they’ve positively impacted the business.Was there an increase in revenue? Did you save a customer? If you’ve received positive feedback from colleagues or other leaders regarding your work, be prepared to share that with your manager as well.Don’t make it personal. Never, ever use any personal reasons for why you should receive the raise. Employers make pay decisions based on merit, performance, and bottom-line results... nothing else. Nothing about your personal needs or situation should enter the equation. This weakens the argument. Always think from the employer’s perspective and not yours. That’s true anytime you are doing a negotiation, closing a sale or convincing anyone of anything. It’s not about you, it’s about them.Consider other forms of compensation. Here’s another thing to remember. If the employer can’t meet you on salary, try negotiating something else. Vacation time is the second most negotiable factor in compensation. I’ve seen many employers be more than willing to add on extra vacation time. This doesn’t cost them any extra money so they may be more willing to do this. Or maybe there are other perks you can ask for such as telecommuting, flexible scheduling, or better office space. What matters most to you? Ask for that!Here’s why it’s so crucial to at least try and get the raise. Your future salary increases are going to be based on a percentage of what you earn now. The more you earn now, the more you will keep earning down the road. Negotiating will have a ripple effect and pay you back in the long run whether you stay at this job or go to another company.As a bonus, here is some dialogue to help you out. Use this when you are currently in the role and negotiating a raise, not a new job offer. That will sound different. Here’s how it might sound….“Based on the salary research I’ve done and what I’ve accomplished this past year, specifically winning that key account with XYZ Company, I feel very confident that I should be compensated closer to $85,000 which would be a 5% increase from where I’m at now. I’d like to start the negotiation from that point.”What do you say if they say no? Most likely, they’ll say it’s just not in the budget. (This may or may not be true.) You then need to decide if you want to stay in that job or not. If you do, ask if the conversation can be revisited again in three months and get it scheduled. Good luck!For coaching on how to negotiate the money you deserve, click here.
How many of you out there have actually negotiated more money? Many people shy away from asking for more money because of the fear of rejection.What if they say no?What if it makes it awkward with your boss?Well, I’m here to tell you that you can do this. It’s actually a very normal thing to do and it may not be completely comfortable, but it doesn’t have to make things awkward. I’ve done it myself and got the raise. If you want to learn how to confidently and successfully ask for a raise, this article is for you. I will share three practical strategies and some dialogue for your next negotiation.Do your research. It goes without saying that you need to know if the salary you are asking for is within the average or market range. If you don’t know for sure, do some basic research online. I would go to multiple sources including LinkedIn’s salary tool, as well as Salary.com, Glassdoor.com and similar sites. Make sure you take into account your experience level, location, education, company size and so on. There are lots of factors that influence salary, sometimes more than people think. Make sure you educate yourself. One of the most accurate ways to salary research is through your network. Find out what other people doing similar work get paid. This is even better than going online, so try doing both!Focus on accomplishments. Show your value. The argument you make for the extra money should be based solely on your accomplishments and value. This is what employers care about. How are you performing above average? You want to be able to demonstrate that you have taken on additional responsibilities, as well as provide specific details about your accomplishments. Share examples of projects you have completed and how they’ve positively impacted the business.Was there an increase in revenue? Did you save a customer? If you’ve received positive feedback from colleagues or other leaders regarding your work, be prepared to share that with your manager as well.Don’t make it personal. Never, ever use any personal reasons for why you should receive the raise. Employers make pay decisions based on merit, performance, and bottom-line results... nothing else. Nothing about your personal needs or situation should enter the equation. This weakens the argument. Always think from the employer’s perspective and not yours. That’s true anytime you are doing a negotiation, closing a sale or convincing anyone of anything. It’s not about you, it’s about them.Consider other forms of compensation. Here’s another thing to remember. If the employer can’t meet you on salary, try negotiating something else. Vacation time is the second most negotiable factor in compensation. I’ve seen many employers be more than willing to add on extra vacation time. This doesn’t cost them any extra money so they may be more willing to do this. Or maybe there are other perks you can ask for such as telecommuting, flexible scheduling, or better office space. What matters most to you? Ask for that!Here’s why it’s so crucial to at least try and get the raise. Your future salary increases are going to be based on a percentage of what you earn now. The more you earn now, the more you will keep earning down the road. Negotiating will have a ripple effect and pay you back in the long run whether you stay at this job or go to another company.As a bonus, here is some dialogue to help you out. Use this when you are currently in the role and negotiating a raise, not a new job offer. That will sound different. Here’s how it might sound….“Based on the salary research I’ve done and what I’ve accomplished this past year, specifically winning that key account with XYZ Company, I feel very confident that I should be compensated closer to $85,000 which would be a 5% increase from where I’m at now. I’d like to start the negotiation from that point.”What do you say if they say no? Most likely, they’ll say it’s just not in the budget. (This may or may not be true.) You then need to decide if you want to stay in that job or not. If you do, ask if the conversation can be revisited again in three months and get it scheduled. Good luck!For coaching on how to negotiate the money you deserve, click here.