Whether you’re in negotiations to begin a new project or you’ve been on the job for ten years, there will come a time when you’d like to ask for a higher salary. While nothing is guaranteed, you can dramatically increase your chances with the following tips.
Consider why you want a raise.
You’ll be asked why you think you merit a raise, and you’ll need to have a good answer ready. Practice what you want to say so your delivery is smooth and uninterrupted. If you stumble over your words or aren’t prepared, your chances of more money drop.
Think forward, not backward.
While you can bring up your past performance to set the stage for your raise request, your employer or client will want to know what you plan to do in the future if you’re paid more. Know what you will bring to the table to deserve your higher pay (from their perspective).
If you don’t plan to take on extra work, re-frame your current responsibilities to make them sound new and improved. The difference might just tip the scales in your favor. Be able to justify your request with cold hard numbers if possible, as your employer or client wants to know how you’ll improve the bottom line.
Be ready with bargaining chips.
You may hear that there is no room for salary increases. If that happens, counter with a request that is not tied to more money. Perhaps you can negotiate a half day off every week, more vacation time, working remotely, or another perk that doesn’t appear to cost the company money in the form of salary. Perception is everything, and a perk might pique their attention.
Don’t let your mind or emotions get the better of you.
Go into the salary negotiation expecting that you have a 50% chance of a rejection. Decide what your course of action will be if that happens. If you think through the possibilities, you won’t be surprised at whichever answer you receive, and you can react accordingly and appropriately.
What are your favorite tactics for negotiating more money?