Show Me the Money! 5 Tips To Negotiate a Raise

Show Me the MoneyAsking for a raise can be a bit tricky… definitely not like asking your parents for a few extra bucks.

The walking-on-eggshells feeling you get in trying not to overstep your boundaries with your boss is a tough bridge to cross and navigate successfully. Asking for a raise is OK, however. And it’s a two-way conversation that you can have tactfully if you keep a few tips in mind:

Do Your Time

Although rightly deserved in some cases, a raise is not going to present itself within the first few weeks or months on the job, no matter how convincing you are in presenting your case to your boss.

In order to rationalize paying you more money for the same work, an employer must see that you have made progress and remained loyal to the company. A company can find any old schmo off the street to do the work for a starting level salary. But go above and beyond, and they are more inclined to attach a few more dollar signs to your value.

Determine Your Reasons

In order to present a convincing case to your boss, it helps to understand why you are asking for a raise in the first place. Is it because your living expenses have gone up? Are you expecting a new addition to the family? Don’t misunderstand; simply desiring a higher salary for your excellent work is a completely valid point.

However, if you can present these motivations to your employer, you may find that they’re more likely to side with you and give you what you’re asking for.

Be Reasonable

In order to be taken seriously, present a sensible figure to your boss, one that is on par with the work that you complete. This will get you much farther in negotiating with you boss.

Practice Savvy Negotiating Tactics

Alright, that said, you may want to present a number to your employer that is a bit higher than the actual raise you wish to receive. The boss didn’t get to where he is by being a pushover. He’ll likely try to bargain you down, trying to take you to your bottom limit.

Before you propose anything, then, figure out what your bottom limit is. Give him a number that is higher than this – but not too high – and once negotiating begins, don’t allow yourself to go below this bottom line. Hopefully, the two of you will settle on something in the middle.

Know Your Value

Logically, a company wishes to pay as little as they can while still employing reliable employees who complete great work. At the same time, their great wish is to keep their workers happy, which is equally – if not more – important to business. You may view a large corporation as powerful and yourself lucky, in that they decided to give you a job in the first place. But it’s crucial to realize that you are equally as vital to them as they are to you. You are valuable and they know it.

If you’re doing a great job, bring this up in a negotiation. Present numbers, graphs, or work samples when you go in to speak to your boss. Tell them that you’re worth it and show them why. Make them an offer they can’t refuse.

Keep these 5 critical issues in mind when negotiating with your employer.  You’ll be more likely to get your point across, make a favorable impression – and walk away with the compensation you deserve.

 

For this post, YouTern thanks our friends at Doostang!

Founded in 2005 at Harvard, Stanford and MIT, Doostang was created with one goal in mind: to successfully advance ambitious young professionals in their careers. Doostang offers its members the opportunity to search thousands of high-quality, highly relevant job opportunities, and tools to leverage their inside connection to get hired. Follow Doostang on Twitter!

 

 

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