Symptoms like lack of sleep, increased heart rate, and an upset stomach often make an appearance before a performance review. A recent survey indicates that “only 43% of respondents have ever requested a raise in their current jobs,” which might shed some light on this issue.
The truth is, while many people expect their contributions to be noticed and rewarded, that’s not always the case. Chester Karas, a well-known negotiator, puts it bluntly: “You don’t get what you deserve, you get what you negotiated for.”
To really navigate the anxiety of asking for a raise, you may need to step out of your comfort zone. There are five key steps you can take to prepare. And preparation, I think, is your most powerful ally.
Step 1: Know your worth by conducting market research
Before heading into that meeting, take a moment to look into the average salaries for your position in your area. It’s pretty important to check this, as rates can differ from state to state. Websites like GlassDoor, PayScale, and Comparatively can be helpful starting points.
If you can, talk to industry recruiters. They often have up-to-date knowledge about current market rates. Additionally, reaching out to colleagues in similar roles may provide insight into what others are earning. Knowledge truly is power.
Step 2: Create a “value-added” list
Make a specific list of how you’ve contributed to your workplace and showcase that you stand out as a top performer. Detail your achievements clearly. You might want to compare the original job posting to a list that includes your current responsibilities. Given the rising cost of living and your newly acquired skills, it’s likely that what you were offered initially is now outdated.
During your negotiation, articulate your contributions with statements like, “This is what I achieved,” and “This is how I saved the company money.” These specifics can be very compelling.
Step 3: Compile your compliments
Throughout the year, keep track of the positive feedback you receive from colleagues and managers. Consider taking screenshots of emails or messages that praise your work.
Adding your top compliment to the “Praise” section of your value list can boost your case.
Step 4: Master your meetings
When the time comes, you want to present your best self. Dress appropriately, mind your posture, and maintain eye contact. Even small talk can ease tension—bringing up the weather might help.
Express gratitude for your current position and salary, but be confident in your request. Have a physical copy of your “added value” list ready to share. If it’s a remote meeting, sending it via email beforehand could also work.
Keep your personal financial struggles out of the discussion. Remember, the focus should be on how your request benefits the company, not on your rent or bills.
Once you’ve made your case, you can present your salary expectations, such as: “Based on my research, individuals with my experience earn around $75,000 in the market. Given that I’m a top performer, I hope to be compensated in line with this.” It’s important to have two salary figures in mind—one that reflects your ideal amount and another that you’d be okay with. Aim for your ideal salary to be slightly higher than what you feel is fair, and always state that figure first when negotiating.
After the meeting wraps up, thank your manager once more, and don’t hesitate to schedule a follow-up. Remember, they may need some time for approval, which is perfectly normal.
Step 5: Professional follow-up
Make sure to email your “added value” list and any other supporting documents to your manager right after the meeting. This way, they can easily share them with the relevant people in the approval chain.
If your request gets turned down, don’t lose heart. You can always ask for a reconsideration later or inquire about other non-monetary benefits. If your boss sees your value, they’ll likely be supportive.
In a less desirable outcome, even if you feel undervalued, you’ll have a clearer sense of your worth, which can guide you to a job that appreciates you more. No matter how it goes, putting yourself out there to negotiate isn’t just about the outcome but about advocating for yourself. If you don’t ask, the answer will always be “no.”
