Contents
Overview
Before you start negotiating a raise, it's essential to understand the basics of negotiation, as outlined in Wikipedia's Negotiation article. As noted by Harvard Business Review's Deepak Malhotra, negotiation is a dialogue between two or more parties to resolve points of difference. To prepare, research industry standards using websites like Glassdoor, Payscale, or LinkedIn's Salary tool, which provides data on average salaries for specific job titles and locations. For example, according to a report by the Society for Human Resource Management (SHRM), the average salary increase in 2022 was 3.4%.
🔧 Step 1: Research Industry Standards
To research industry standards, start by identifying your job title and location, then use online resources like the Bureau of Labor Statistics (BLS) or the Occupational Outlook Handbook to determine the average salary range for your position. You can also use websites like Indeed or Glassdoor to research salaries for similar positions in your area. As noted by Forbes' contributor, David Sturt, it's essential to have a solid understanding of your worth in the market. For instance, a software engineer at Google or Amazon can expect a higher salary than one at a startup.
⚙️ Step 2: Prepare Your Case
Prepare your case by making a list of your accomplishments and the value you've added to your company, as suggested by career coach, Marie Forleo. Be specific about your achievements, including any successful projects, positive feedback from coworkers or supervisors, and any additional responsibilities you've taken on. Use the STAR method, as recommended by Big Interview's founder, Pamela Skillings, to structure your examples: Situation, Task, Action, Result. For example, 'In my role at Microsoft, I successfully led a team to launch a new product, resulting in a 25% increase in sales.'
🎯 Step 3: Schedule a Meeting with Your Employer
Schedule a meeting with your employer to discuss your salary, choosing a time when your employer is likely to be available and not too busy or distracted. Prepare for the conversation by practicing your pitch and anticipating any questions or concerns your employer may have. Use the negotiation strategies outlined in Roger Fisher and William Ury's book, Getting to Yes, to guide your conversation. For instance, focus on interests, not positions, and seek mutually beneficial solutions.
✅ Step 4: Negotiate Your Raise
During the meeting, confidently and clearly state your case, using the research and preparation you've done to support your request. Be open to negotiation and willing to consider alternative solutions, such as additional benefits or a performance-based raise. Use the negotiation tactics outlined in Chris Voss's book, Never Split the Difference, to build rapport and create a collaborative atmosphere. For example, use mirroring and labeling to build trust and understanding.
💡 Pro Tips
Finally, be prepared to handle common obstacles or setbacks, such as a negative response from your employer. Use the advice from negotiation experts like Josh Turner or Ramit Sethi to stay calm and professional, and be willing to walk away if the negotiation is not successful. Remember that negotiation is a conversation, not a confrontation, and that your goal is to find a mutually beneficial solution.
Key Facts
- Year
- 2022
- Origin
- United States
- Category
- guides
- Type
- concept
- Format
- how-to
Frequently Asked Questions
What is the best way to research industry standards for my job title?
Use online resources like Glassdoor, Payscale, or LinkedIn's Salary tool to determine the average salary range for your position. You can also use websites like Indeed or the Bureau of Labor Statistics to research salaries for similar positions in your area. For example, a software engineer at Facebook or Apple can expect a higher salary than one at a startup.
How do I prepare my case for a raise?
Make a list of your accomplishments and the value you've added to your company, using the STAR method to structure your examples. Practice your pitch and anticipate any questions or concerns your employer may have. Use the negotiation strategies outlined in Getting to Yes or Never Split the Difference to guide your conversation. For instance, focus on interests, not positions, and seek mutually beneficial solutions.
What if my employer says no to my request for a raise?
Be prepared to handle common obstacles or setbacks, such as a negative response from your employer. Use the advice from negotiation experts like Josh Turner or Ramit Sethi to stay calm and professional, and be willing to walk away if the negotiation is not successful. Remember that negotiation is a conversation, not a confrontation, and that your goal is to find a mutually beneficial solution. Consider alternative solutions, such as additional benefits or a performance-based raise, and be open to creative problem-solving.
How do I stay calm and confident during the negotiation?
Prepare thoroughly, practice your pitch, and focus on the value you bring to your company. Use positive self-talk and visualization techniques to boost your confidence. Remember that negotiation is a conversation, not a confrontation, and that your goal is to find a mutually beneficial solution. Take a few deep breaths, and try to relax. As noted by negotiation expert, Chris Voss, 'The goal is to build rapport, not to win an argument.'
What are some common mistakes to avoid during a negotiation?
Avoid being too aggressive or confrontational, and don't make unrealistic demands. Be open to negotiation and willing to consider alternative solutions. Don't be afraid to walk away if the negotiation is not successful. Remember to stay calm and professional, and focus on finding a mutually beneficial solution. As noted by Forbes' contributor, David Sturt, 'The key to successful negotiation is to focus on the interests, not the positions.'