How to Negotiate a Pay Raise

Knowing how to ask for a pay raise is valuable, but it can also be intimidating to do. You may feel like you don’t even know where to begin or feel afraid that you will say the wrong thing.  We have a list of tips that will equip you to negotiate your pay with confidence and get you the result you want.

Getting your timing right can be tricky – of course, if you think you deserve a raise, it’s best to have that conversation sooner than later. However, if you ask when your boss or higher-ups in the company are particularly busy, your request can disrupt things and be seen as an annoyance, which means your request may not be taken seriously.

One great time to negotiate is during the pay round or performance review. This gives you the opportunity to sit down with management and discuss your performance and the reasons why you believe a pay raise is warranted.

Once you have identified a good time to bring the proposition of a pay raise to your employer, it is time to do your research and make sure you are prepared for the meeting. Find out what other people in roles similar to yours make within your company and in similar companies.

This is information that you can often find with a quick internet search. But it is even better if you can talk directly with people you know well. This way you can ask how much a person is making currently and if they are planning on asking for a raise soon. Discussing salary with others used to be taboo, but over the last few years, there has been a push for more transparency which helps significantly when it comes to asking for a raise as well as eliminating unfair pay gaps.

When you pitch a pay raise to your employer you should have a clear end goal and be able to identify the reasons why you think you deserve a pay raise. List the things you have accomplished, the successes you have had, how you collaborated well with others, and how each of these things yielded success for the company. You should be able to demonstrate specific ways you have excelled above your colleagues.

Using numbers and data that show exactly how you have succeeded is a great way to present your case. You can also use supporting documentation and recommendations from others you have worked with.

So now you’ve made your case and demonstrated why you undoubtedly deserve a raise. There’s still more to do; it’s time to negotiate. You should know ahead of time what you are willing to be flexible on and where you draw the line for what you believe you deserve based on your past performance and research. A raise often includes more than just a salary – it’s a whole package. Maybe there are certain benefits that you are willing to trade off in order to get an overall package you are happy with.

Often you will receive an offer from your employer, and it is appropriate to take time to consider it before accepting it or negotiating further. You can thank them and let them know that you will think it over and get back to them the following morning. This allows you to review the offer and make sure that it is acceptable.

At that point, you have done everything you can to put your best foot forward and ask for what you think you deserve. With the right preparation, research, presentation, and negotiation, the rest is up to your employer and whether or not they can offer the raise you deserve. There is of course always the possibility that a raise is just not in the cards for your current company at the time. In that case, it is up to you to decide if you want to try out a new role or company where you can get the pay you deserve.

If you believe finding something new is your next move, you know ARC group is the place to turn!