Asking for a Pay Raise without Anxiety
Money, can be one of the most awkward, challenging, embarrassing, sensitive.... topic in negotiation.
Negotiation is not an inborn skill, is different from debate or dispute.
Although many people feel that negotiation is tough, through a progressive learning and practice, everyone can become a successful negotiator.
This article will show you how to bring your request of salary increase to the table easily but professionally.
Salary negotiation is one of the most difficult tasks because various skills will be necessary:
#1 Research Skills
What is your Market Value?
You hate to put a price-tag on your forehead of course. But it's a crystal-clear question you can't avoid at the minute you decided to ask for a raise.
An honest self-evaluation can be painful but you must face it (don't offer other people a chance to let you down)
Your salary is not only determined by the Quantity (your hard work) and Quality (your good work).
● How valuable you are to your boss?
● How valuable you are to the local or global markets?
To answer these questions, you need to do some research beforehand.
If you are working overtime (or overnight) everyday and can't afford the time to research. It's OK. Feel free to use the links at the bottom of this page, the global salary surveys will be at your fingertips.
Get in touch with recruiters, recruitment agencies or personnel consultants... they will be able to provide you invaluable and up-to-date information, help you to locate yourself on the map to future career plan.
#2 Organizational Skills
Alright, after you get a clear picture of your market value.
The second step will be "how to Show & Prove your value to your boss and company"
● What are your significant accomplishments?
● What are your important contributions made to the company?
To answer these questions, you need to keep track of your work proof, present them in statistical data and figures.
Make sure your data is credible, comparable and meaningful. As a result, the data set will be powerful enough to speak for you!
You won't regret you have done this! In case your salary negotiation fails, this will stay useful for job hunting or promotions in the future.
#3 Negotiation Skills
Before starting any conversations, you need to ask the most important question:
● Who is the decision-maker?
Realize that your direct manager may not have authority to decide or approve your salary raise. I don't mean your direct manager is not important, he/she is still a key person that you shouldn't ignore.
I highlight this question because it is not uncommon to see people did everything fantastic, but NOT with the decision-maker(s).
✓ Be Clear and Confident
Before you try to convince anyone else, be sure you are convinced.
Practice and Rehearsal is essential. Write down your presentation script, keep practicing until you've reached fluency.
Obviously, it's not a good idea to invite your boss for a rehearsal, but you can rehearse by using his/her photo. This is not a joke, some people get nervous unexpectedly when they speak in front of their boss or management.
✓ Be Concise
Don't list out every single accomplishment you have achieved over the past 10 years.
You can't include everything in a few minutes presentation or discussion.
Highlight the Key Points. You need to carefully select the BEST contents.
✓ Be Sincere and Polite
Be thankful when your boss offer time and opportunity for a discussion.
Don't take for granted. Or spend half an hour to complain about your excessive workload.
Consider a proper dress code when you meet with senior or top management.
✓ Be Firm but not Aggressive
Don't force your way without considering the feelings of others.
Requesting a "deadline" for salary review may sounds a bit offensive. It makes sense your boss and management need time to consider and handle your request. Instead, you can ask for a "follow-up" date that sounds more comfortable and reasonable.
✓ Stay Positive
Take this as an opportunity for personal development as well as self-improvement, no matter the outcome, you won't lose anything but invested yourself.
Take the long view, no need to be frustrated or upset if the outcome does not match your expectation.
Another door will be open for you ahead.
[ Remember ]
Enjoy the process (not only the result)! Good Luck!
Global Salary Survey
IMA's 2019 Global Salary Survey (PDF)
IMA's 2019 U.S. Salary Survey (PDF)