5 Tips For Negotiating a Raise or Promotion

 

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Have you ever wanted a raise or a promotion, but were too afraid to ask?  Thinking about it can actually be a daunting task and building up the courage to actually ask for it can be scary too. When you break down the steps you need to take to ask for a raise or promotion the task isn’t as overwhelming and is actually empowering.  I’ve come up with 5 tips for negotiating a raise or promotion that anyone can easily accomplish.     

It took me several years to realize that no one is going to hand me a promotion without me asking or advocating for it myself.  Year after year I would sit at work and see people get promoted and think “why not me” and then I realized, I never asked for a promotion or a raise.  You are the only person that can control your destiny, you have to fight for yourself and promote yourself to others to achieve what you want in life.  

I personally had a hard time doing this for many years.  A lot of the time I would simply think that “it’s my job, I’m just doing my job” so I shouldn’t get extra recognition for it. And that was the wrong way of thinking.  Once I realized that I was doing my job and doing it well, I decided to ask for that promotion.  There are 5 simple steps to take when asking for a raise or a promotion.

 

5 Tips For Negotiating a Raise or Promotion

Know Your Company’s Advancement and Compensation Schedule 

Start the conversation early with your manager.  Each company is different in how they handle compensation or promotions, but one thing in the same, they don’t decide promotions when you have your year-end review.  The advancement process starts way before that.  If you work for a large company, chances are come early fallthat conversations on advancement and compensation have started om the third quarter.  If you ask during your year end review you are probably too late.  Start conversations with your manager ahead of time, think mid-year.  Get the idea fresh in their mind and keep talking about it.  Don’t shove it down their throat, actually have a conversation.  Ask what they think you need to do to get to the next level and then do what they say.  Take their feedback and really think about it and apply it to your daily job.  Continue to check in with them to make sure you are on the right track.  Having open communication with your manager is important.

 

Ask in Person, Not Over Email 

In the age of technology it’s easy to send an email to your manager to ask for a day off or ask for help on a project, but you should never ask for a promotion or a raise over email.  It’s not professional and shows that you aren’t serious about your ask.  Taking the time to speak face-to-face with your manager about your request will go a long way.

 

Prepare, Rehearse and Memorize 

Once you’ve scheduled a face-to-face meeting with your manager, you will want to ask for the raise or promotion  specifically, don’t dance around the topic.  Prepare five statements about why you deserve a promotion and be ready to speak to them without looking at your notes.  These items should relate to the goals you have been asked to achieve or relate directly to items in your job description.  Use concrete statistics and specific examples for each item. Metrics are your best friend here, have them prepared.  If you saved the firm money through creating a new process, highlight that and include the dollar amount.  Perhaps you retained an account for the firm site that example and the steps you took to retain the account.  If you did something that was above and beyond your daily job duties provide that as an example.  Above all be prepared and be confident.

 

Do Your Research 

You’ll want to know what your peers at competitors are being paid for your role.  This is a great time to reach out to your network and see what you can find out. Tap into headhunters and do research online to be prepared. You don’t have to have specifics, but you should have a general salary range.  However, don’t ask your co-workers what their salary is.  First of all its rude and unprofessional, and second of all it’s something you just don’t need to know.  

 

State the Increased Salary or Specific Title You Want

When negotiating a salary increase, ask for a specific amount, for example $10,000 more.  Research suggests that women who don’t state a dollar amount typically receive 32% less then individuals that did.  Same goes for the job title, if you want to be a Vice President, ask for that title specifically.

 

BONUS TIP…Dress for Success 

Dress the part, take pride in yourself and carry yourself well.  An old manager once told me to dress for the job you want not the job you have.  Taking pride in your appearance will go a long way.  Shine your shoes, iron your blouse and look polished and act professional everyday at your job.   

 

Above all, be prepared to have this conversation and keep in mind there is a chance that your manager may say no.  Perhaps they agree you are an outstanding employee, however, the company isn’t in a position to provide additional compensation or advancement at this time.  If you still feel you need to be compensated in some way for your above average performance, you can negotiation non-monetary things, like additional vacation time or a flexible work schedule.  You can also use the response of no as an opportunity to see what else you can be doing to achieve your goal.  Even if they say no, they will have a new level of respect for you and most likely keep you in mind for advancement or additional compensation in the future.  

Want some additional help to feel empowered?  Here are a couple books I’ve read that will really inspire you to just go for it!

Women Don’t Ask – This book explores the social and personal reasons why woman rarely ask for what they want in life. It’s a good read and I recommend that all women read it at some point in their career.  The earlier the better! 

Basic Black  – This book is a guide to getting ahead in work and life.  A great guide for women just entering the workforce or for those who are at a crossroads in their career.  

 

Craving more career focused posts?  Check out my 5 Pieces for 5 Outfits post where I curate a weeks worth of outfits with 5 pieces!