How to Negotiate a Raise
Stop wondering "Am I getting paid enough?" and make it happen
When talking to candidates, I find that many don’t know what the going rate is for their position. They just look for an increase beyond their current salary. This means that if they started off under-compensated, they’ll probably continue to be under-compensated, regardless of the impact they’re making on the business.
In our culture, we don’t ask how much our friends earn. We don’t share how much our car or house cost, what our rent is, or what our insurance deductible is.
We don’t talk about Bruno money.
Thanks to the internet, you have all the information you need to know what fair compensation looks like for you, and now we’ll teach you how to negotiate a raise.
Prepare, Prepare, Prepare
You can’t walk into your boss’s office, say “I’m underpaid!” and expect results. You have to build a case for why they should be paying you what you’re asking for. Focus on how you’ve impacted the business:
- Major Challenges with Major Results: When projects were failing, deadlines were whizzing past, or funds were dwindling, how did you take the lead and save the day? What projects have you rescued? What major errors have you identified and remedied?
- Assume More Leadership: Sometimes a promotion is the perfect way to get that raise. Build your career and your bank account while growing as a leader and having a bigger impact.
Be Ready to Negotiate
Sometimes negotiating a higher salary just isn’t in the cards where you work. But remember, it’s not just about salary – total compensation is the key here.
What other areas of the compensation package are of most value to you? Flexible hours or remote options? A higher match percentage on your 401k? An increased bonus structure or more vacation days? All of these areas play into our quality of life and, for now at least, can be valuable options during a negotiation.
Be sure to consider these thoughtfully before your meeting. When you have these counters prepared, it can also show that you are willing to work with them and compromise, showing your dedication to your employer.
Most Important, Just Ask
While only 55% of people receiving job offers in 2019 negotiated their salaries, it was expected by 70% of employers. It was expected. That means, while scary, negotiating your salary – whether with a new job offer or in your current position – is just a part of having a career.
Often, the hardest part is knowing what to say and how to say it…and remembering that silence is actually your best friend when negotiating.
Practice making your case with a friend so you are comfortable with what you are saying. Then when the time comes – be comfortable with the silence after you make your request.
At the end of the day, while asking for a raise is stressful and intimidating, it isn't a matter of life and death - the worst that will happen is nothing. And if your employer is unwilling to give you a raise or negotiate in other areas,
come talk to us and we'll help you find a role that will meet your needs.
