How to Negotiate your Salary or Raise?
✅ Step 1. Familiarize yourself with your company's remuneration process.
You'll need to understand:
- Timing: What are the important milestones?
- Criteria: How is success measured?
- Structure: What non-salary levers can you pull? (e.g. additional time off or equity)
✅ Step 2. Plant seeds early
Your manager will need time to prepare for any conversation about your raise.
They will need to navigate internal politics and they probably manage a limited budget, so give your manager as much notice as possible.
But don't be annoying.
Definitely don't demand a pay rise right now.
Instead, ask how the process works, informally mention some of the outcomes you've achieved, and ask whether you could put forward a case for a raise.
✅ Step 3. Record evidence showing your performance
You can't negotiate a salary based on opinions, you need proof points.
So record your wins, positive feedback, and the outcomes that you've achieved for the business.
Bonus points if you're able to quantify the monetary value of the things that you've achieved.
✅ Step 4. Find hard salary data
So you have a bunch of evidence to support the case for your pay rise, now it's time to figure out how much you should ask for.
You'll need to find salary comparables.
This allows you to confidently say "people that do that I do get $X."
You should triangulate data from a number of sources:
- Market data: Glassdoor, Payscale and LinkedIn Salaries
- Peer data: Ask your trusted colleagues and friends in similar roles
- Other data: Speak to recruiters who have recently filled similar positions
Based on these data, you should come up with a desired salary range.
✅ Step 5. Have a rational conversation
The day has finally come, you're having the salary discussion.
First, explain how you've progressed since your last pay rise.
Specifically, talk about how you have more responsibility and deliver better outcomes. Don't forget to use lots of examples.
Here's the key question to ask your manager: "Do you agree with the things that I have covered so far?"
You want them to agree that you're over-delivering.
Next, share your market data and salary expectations.
Set a high "anchor" by asking for the salary number at the top of your range.
Then be explicit that your salary number comes from market data and share where the data comes from.
Be assertive but not demanding -- you're just sharing facts, after all!
