Negotiating A Salary Raise Tips

Negotiating salary is, for most people, the hardest part of the job process and the cause of considerable anxiety. The key is to be prepared, reasonable and confident.

Wait For The Right Moment. The right time to ask for a raise is right after youve achieved something significant, for example, completed a tough project under budget, or when your boss or other key person has complimented you. If money is tight in the company and you have not made any significance contributions lately to help offset that problem, now may not be a good time to ask for a larger share of a dwindling pool of money. Timing also refers to the company's policies and procedures in terms of the amount of time between reviews and raises -- and when it's "acceptable" to ask for a raise.

Broach The Topic Professionally And Stay Emotionally Neutral. Be professional, polite, and respectful. Always negotiate your salary with your direct superior. Never go above his or her head or to the Human Resources department. Set up a meeting with your boss to address this topic. That way youll know how much time you have and your boss wont be taken by surprise.

Dress for success on the day of your meeting, dress as you would for a job interview or business conference. You may even want to develop a script to follow. Just keep it flexible. When making your case, don't compare yourself to co-workers -- stick to the field in general. Anticipate any objections the employer might be able to raise and be prepared to justify your cost effectiveness.

Ask for What You Want.. When asking for anything in life, you should be certain you know what you want. Otherwise youre leaving the decision up to someone else and you may come out dissatisfied. You cant be shy about asking to be paid what youre worth. Give your boss an estimate of how much your efforts add to the companys bottom line. Ground your proposal on objective criteria.

Create a one pager that includes comparables, and at the bottom, estimate your fair market value in light of those comparables. That will help convince your boss and give your boss something to show to higher-ups to justify giving you a raise. That one-pager will also add to your confidence in the negotiation.

Present Your Outline Of Your Accomplishments. Use as many details as possible, such as numbers and facts. You'll want to take five to seven of your most recent or biggest-impact contributions and present them in a bulleted list. Most bosses are interested in numbers. If you are in marketing, how do the things you do put profit on the bottom line? If you are an administrator, how do you make money for the company, or, how do you save money for the company and how much of that savings drops directly into the profit margin of the organization?

Stay Positive. Talk about how you are happy in your current job. . Focus on what you deserve rather than what you need. Emphasize the benefits of your skills to the company. Dont present your current salary/position as a problem.

Dont Monopolize the Conversation. Know when to listen. Yes, youve arranged this meeting and youre there to tell your side, but dont dominate the discussion. Say what has to be said and then listen. Listen closely and give your employer plenty of room to talk. Often the more time people are given to talk, the more they will say even just to fill that silence.

In addition, it is important that you listen to all your boss has to say. You want to be cooperative, not demanding and combative. You will likely gain and understanding of how things work within the company and what the company is both willing and able to do in your favor.

Be Flexible And Open To Other Options. Consider negotiating for perks. Maybe a pay raise wont fly at the moment in part because it would involve extra taxes and workers compensation for your employer. But you can ask for other things, including an extra week of vacation, extra personal days, education benefits or. So include and discuss other types of compensation that would be valuable to you.

Have an Exit Strategy. Express your understanding of the boss position. If your request for a raise is denied, try to find out where you can improve, so that next time you ask, your boss will have no choice but to reward your efforts.

Confirm the Details in Writing. Write a follow-up memo after the meeting. summarizing the meeting, demonstrating your value, and highlighting your accomplishments -- and send the memo to your boss as documentation. Document any salary promises. If you were not able to obtain an increase in salary, find out when you will be able to revisit the issue. Be prepared to offer suggestions of what the next steps should be.