How to Negotiate for a Salary Increase
In my conversations with peers and colleagues, there has been a common stressor on how to effectively ask for a raise from their manager. Justified or not, it falls onto the single employee to approach the manager and have the conversation about a salary increase. Here are a few key tips to keep in mind when approaching your manager for a salary increase. We will also outline the benefits of having this difficult conversation with your manager.
1) Understand the correct protocol for your company
Every company has a different approach to receiving and reviewing salary increase requests. It is vital that you review the written protocol or company handbook to ensure you begin this process by reaching out to the correct person.
2) Have a specific desired % increase or dollar amount increase
It’s important to approach the decision maker with a discrete number for the salary increase. This number can be used as a negotiating tool and sets the benchmark for raise expectations.
3) Be prepared with specific work examples or projects
The goal is to clearly communicate the extra work and projects completed that justify the salary increase. The more specific the better, including statistics on money saved for the company or increased revenues based on your superior performance. It’s important to recognize that these examples are beyond the scope of your current job responsibilities, and these examples have all been completed within the past 12 months.
4) Send a Thank You note
After the meeting, no matter how the conversation went, send a thank you note thanking the decision maker for taking the time to consider the request. Even if the request is denied, this gesture will show that you are a team player and a valuable asset to the company that is not self-centered.
Here is a list of potential benefits from discussing the raise:
— Salary increase request is granted
— Senior management is now aware of your exemplary work
— Positive exposure and demonstrated emotional intelligence
— You can receive quality feedback about your performance and possible areas of improvement
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