New Man How-To Guide

How to Negotiate a Raise

Very few people actually ask for a raise, so if you want one, you gotta ask for it. Your organization will assume you’re satisfied unless you ask for a pay raise.

1. The Ask. Approach your boss and say, “I’m interested in a pay raise. How responsive do you feel our organization would be to an adjustment in my compensation?” Asking the question in this way does a few things. It allows you to approach the subject in a friendly manner with your supervisor. This question also gives you the opportunity to let the company know you are evaluating this issue. It also doesn’t pit you against your boss but focuses the decision on the company. Then ask when it would be convenient to talk about this further. The goal is for both sides to set a specific time to discuss a pay raise.

2. The Attitude. Short of blackmail, it’s really difficult to force your boss to give you a raise. And let’s face it, blackmail will either get you fired, put in jail, or at best damage your working relationship. So as you approach your boss and the meeting, stay open-minded and positive. Remember to keep a helpful and constructive attitude throughout the process, and let your supervisor know that you appreciate the time that he or she has taken to consider this issue on your behalf. (You need to understand that many supervisors want to give you a pay raise, but often they are constrained by other conditions.) You want your boss to know that you will listen and try to understand his or her views. Avoid ultimatums or threats.

3. The Prep. Negotiating a raise can be uncomfortable for many people (both you and your boss). First, have an idea of your fair market value. There are numerous ways to inform yourself about this. (Check with your professional organization, contact a job recruiter, look at other, similar job listings, surf monster.com, etc.) This process will keep your expectations realistic and fair.

Next, you need to keep track of your accomplishments for your organization, and be ready to present your list of accomplishments to your boss. Be prepared to discuss your accomplishments and your overall value by thinking of answers to the following questions: What value are you delivering to your organization? Can you list your accomplishments over the past year? How have these accomplishments benefited the organization?

These questions will assist you in negotiating your raise within the organization. You also need to enter your negotiation certain that you are delivering what your organization expects. You must not only meet your organization’s expectations, but also focus on exceeding these expectations in order to motivate them to give you a raise.
Finally, consider your boss’s needs. Like you, your boss has requirements. To persuade him or her to say yes, your ideas will have to address the things that are important to your supervisor and your company.

4. The Meeting. When it comes time for the meeting, have a written document that includes the following things:
Highlight your recent and historical accomplishments with the firm. It is far easier to persuade someone to agree with your proposal if he or she sees how that proposal is firmly grounded on objective criteria, such as what similar firms pay people with your experience, or what others in the company make.

Provide multiple options of your desired compensation. Create possible solutions to present to your boss, and then work through them together. Offer other ways that you are willing to be compensated (extra vacation days, a more flexible schedule, stock options, a bonus, profit sharing, funds for additional training)

Don’t low-ball yourself. Psychological research shows that the more you ask for, the more you will get in negotiation. At the same time, be realistic. Only offer ideas to which your boss can logically say yes.

Have a plan B. Unless your boss says yes, you need to have a backup plan. Part of your preparation should be the creation of a specific action plan so you know what you’ll do if you have to walk away from the table.

This article was taken from How to Hit a Curve Ball (Tyndale) by Stephen James and David Thomas. To order the book click here!