- Pay & Salary
How To Negotiate a Raise in 7 Steps
How To Negotiate a Raise in 7 Steps
By indeed Editorial Team
December 1, 2021TwitterLinkedInFacebookEmail Negotiating a raise is one of the most significant skills you will need in your career. Doing it well requires confidence in the value you provide to your company a good as professionalism to negotiate with your employer effectively. In this article, we explain the steps you can take to negotiate a grow and provide a few tips for how to handle the answer, whether it ‘s cocksure or veto .
When is the right time to ask for a raise?
Before you prepare for a lift negotiation, you should decide whether this is the ideal time to be asking for a raise in the first invest. here are a few signs that it is the right field time to ask for a raise :
- You have been there for at least six months ( but preferably a year or more ) .
- There is n’t already a performance review coming up or a raise agenda in place .
- The party is doing well financially .
- You ‘ve recently taken on more province or even a new position .
7 steps to negotiate a raise
Following these steps will help you prepare for your raise negotiation meeting with your employer :
- Research wage data for your position .
- Consider how your ship’s company is doing .
- Reflect on what you have achieved in this role .
- Decide on your aim range for the resurrect .
- Prepare your display .
- Practice negotiating with friends or family .
- Schedule your meeting .
1. Research salary data for your position
Before you ask for a raise, you should know what a convention wage scope looks like for your position and your level of experience. If you are comfortable doing so, you could ask other people in your caller who are in similar positions or have a like sum of experience what they make. You can besides do research online to figure out what the median wage is for your speculate and localization. It is crucial to make certain that the ascent you ask for is within compass of what people with your caper and know are making .
2. Consider how your company is doing
Familiarize yourself with your ship’s company ‘s financials and performance over the final few quarters to get a sense of whether or not they are growing. A company that is experiencing a period of stagnation or refuse may not be in a position to offer raises. This research will besides guide the actual negotiation procedure. For model, if your company is growing, but the growth has slowed, you might consider aiming for a lower raise than you would ask for if they were growing more quickly .
3. Reflect on what you have achieved in this role
The best way to convince your employer you deserve a raise is to bring up your specific accomplishments that helped the company achieve its goals. You want to demonstrate that the value you bring to the team is worth the increase wage. If you have been asked to take on extra responsibilities or roles in the company, this is besides a good time to ask for a arouse to accompany that extra work .
4. Decide on your target range for the raise
Convincing your employer that you deserve the lift is only the beginning. You besides need to be prepared to negotiate the actual measure of that lift, which means that you need to set an appropriate range. Your range should start with the lowest sum you would be happy with and end with the highest sum you think is reasonable to ask for, based on your research. If your employer agrees to give you a raise, you will reference this range as you negotiate the price.
In addition to a image of wage amounts, identify some other benefits you might be will to accept rather of a lift or in combination with a smaller raise than you in the first place wanted. sometimes, employers might be reluctant to increase your wage but silent will to offer you early benefits in retort for your great work. other benefits you might consider include :
- Additional paid meter off
- More flexibility in your schedule
- stock options
- Remote workdays
Having a list of alternative benefits will besides be utilitarian if your employer rejects your request for a raise. You may not walk away from the meet with a lift, but you might even be able to get some extra perks .
5. Prepare your presentation
When you walk into the confluence, you want to be quick with a convincing narrative about why you deserve to get this raise. As mentioned above, you want to tie that to specific accomplishments arsenic much as possible. To keep your arguments organized, it is helpful to structure all of your points in the shape of a presentation or sales pitch. however, you do n’t want to actually come into the meet with a presentation. You can bring notes with you to refer to, but in general, try to keep it more like a conversation than an actual presentation. Begin with an hatchway affirmation where you describe what you are asking for and why you deserve it in two or three sentences. then, be prepared to respond to questions and counterarguments. Related : How to Ask For a Raise ( with Script Examples )
6. Practice negotiating with friends or family
once you know the most authoritative points you want to discuss with your employer american samoa well as the amount you want to ask for, ask a friend or family member to drill the negotiation with you ahead of clock time. If possible, pick person who either has some experience asking for a raise or is in a management position themselves so that they can provide constructive feedback about how you ‘re doing and what you could do differently .
7. Schedule your meeting
timing is highly significant when asking for a raise. This refers to the prison term of the year, day of the workweek and time of the day. here ‘s how to choose the properly time in each class :
Time of the year
by and large, you want to ask for a raise when your ship’s company is doing well financially. It may besides be ideal to ask shortly after you have completed a major project or accomplishment .
Day of the week
Aim for a date earlier in the week. Tuesday or Wednesday are the most preferable. On Monday, your employer will probably be preoccupied with projects that were n’t finished the workweek before deoxyadenosine monophosphate well as all the work that needs to be completed in the week ahead. At the end of the week, in comparison, everyone will credibly be eager for the weekend, so it is best to ask earlier when there are fewer distractions .
Time of the day
ideally, schedule your meet for 10:00 or 11:00 a.m. This is early enough in the sidereal day that your employer is not even fatigued by solve but late enough that they have had their chocolate, settled in and likely cover with any pressing issues that they were concerned about that good morning. Getting the clock correct allows you to negotiate while your employer is in the best possible climate. This will improve your chances of getting a yes and receiving the amount you were hoping for. Related : How to Negotiate Salary ( with Tips and Examples )
How to respond when they say yes
even when employers agree to give you a enhance, they may not offer you the total you originally wanted. In this scenario, you need to be ready to negotiate the actual number. While some people might feel intimidated by the theme of discussing exact dollar amounts with their employers, it is a perfectly normal summons, and your employer will most probable expect you to negotiate with them. here are a few tips to make certain you walk out with a raise you are happy with :
Start with a higher figure
Most likely, your employer will ask you how much of a raise you would like. This is the start of your negotiation. Begin with a name that is higher than your target amount. This should not be an outlandishly high phone number, but you should choose a number at the higher end of the range that you calculated when you were preparing for this meet .
Balance persistence and flexibility
This can be challenging, but it is authoritative to find a balance between being determined to get a resurrect that reflects your deserving and being flexible enough to come down to an amount your employer is comfortable with. One way to do this by negotiating in smaller increments .
Establish a timeline
If your employer says that they would offer you a raise but there is n’t room for it in the budget, work with them to establish a timeline for when the enhance can occur. It is crucial to get a fasten date. You might consider tying it to specific goals or achievements on your part. For exercise, you might get the raise once you have increased gross or cut costs by a certain share within a specific timeline. Related : 6 Tips for Your Next Salary Negotiation
How to respond when they say no
If your employer rejects your raise request, it is significant to handle the rejection well to maintain an amicable relationship. You besides want to handle it well because there is still the choice to ask for some alternative benefits in place of the raise. here are a few tips for ending a raise negotiation that did n’t go the way you had hoped :
Ask for alternative benefits
If your employer rejected the grow but still seemed receptive to your overall argumentation about the value you bring to the company, you might be able to ask for the other benefits you listed in your formulation phase. You will have to use your best opinion here to decide if this is an allow footstep .
Thank them for their time
Leave the meet on a plus note. flush if you are considering finding a modern job now that you know you are n’t getting a raise, you calm want to stay on good terms with your current employer. Be professional and civilized throughout the entire conversation .
Being professional and civil is significant, but it does n’t mean you need to apologize for asking for the grow. You did not waste their prison term, and you did not overstep your bounds. Asking for a raise, even when you do n’t get it, is a good manner to demonstrate that you recognize your worth. While it is important to be calm air and understand when things do n’t go your way, you should walk out of that meet with confidence. If you apologize, you ‘re suggesting to the employer that asking for a lift was a err, which will work against you when you prepare to ask again.
Read more: How to Tie a Tie: 7 Knots for All Occasions
Ask for feedback
If an employer rejects a raise request, they have a argue for it. Getting feedback about why they said no can help you determine what your future steps should be to make sure that you get a positive answer in the future. Remember that asking for feedback is not a clock time to argue or dispute their reason. This is the time for you to listen, take notes and prepare to move forward .