Negotiating a pay increase can be daunting for anyone, so it’s important to know your worth as an employee if you want to make a successful case for yourself. Understanding your value and the skills you bring to the table should correlate to your salary. Everyone is nervous to have this conversation so we have outlined what to do before and during your salary negotiation meeting.
Evaluate Your Worth
It is important to understand what you are bringing to the table. Brainstorm your top projects and their success rate. An example of success rate could be the amount of sales your projects have driven, customer engagement they accomplished, or consumer you reached. We cannot stress enough how important it is to include data in your meeting. If you just say, “my project generated lots of sales,” that can mean different things to different people. A stronger argument would be, “from my time at the company the department’s sales increased by X%, and I know this directly correlates to my work because of these tasks that I managed.”
In addition to reviewing your projects and contributions to the company, review your jobs description. Are you going above and beyond what is required of you? This is also something to bring up when negotiating your pay so you can ensure that you’re being compensated properly.
After these steps you’ll be able to come up with a number that you believe best encompasses your worth, but this is not your last step!
After completing your own elevation, do some research as to what competing companies are paying for a similar position. A great place to start is Glassdoor, where you can see what similar positions pay. Look at current job listings at other companies and see what they’re offering as a base salary.
This gives you a better picture of what the average pay is for a position that’s similar to yours and gives you a good gauge to measure yourself against, also taking your experience, time with the company, and performance into consideration.
Frame it Around the Company
Although the conversation will be regarding your own personal salary, an effective way to frame your conversation is to focus on benefiting the team. Think of ways that you can convey how you being a member of the team enhances the company. Ask yourself, what would the company look like without you? How would the project be different without your input? Then, turn these answers into notes that you can bring with you to your salary negotiation meeting to back up the pay increase that you’re asking for.
You should practice what you are going to say to your boss or manager before heading into the meeting to see if your points flow and build on each other. You might even try rehearsing in front of a family member or friend as they may find areas to improve your arguments, and they’ll also be great moral support to help boost your confidence. This not only helps you to practice but also to really familiarize yourself with what you are saying so it becomes second nature.
When heading into these meetings, come prepared and not just wing it as you can get derailed and not make your point. If you’re prepared and comfortable with your case, if your boss or manager has a rebuttal, you can refer back to your initial points. Be prepared that you might not get the raise you were hoping for and may have to be willing to walk away if necessary. Walking away would be the last resort, but it’s always important to prioritize what your worth as an employee is.
If you’re showing up every day and doing your best, make a great case for yourself and ask for what you’re worth. The more you can back it up with metrics, specifics, and confidence, the closer you’ll be to nailing down the raise that you deserve.
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Demetra Maragos – Demetra is a Master of Arts candidate at New York University, who loves thinking outside of conventional lines to combine her passions of everything culture, fashion and lifestyle.