You're preparing for a salary negotiation. What's the best way to ask for what you want?

1 Know your worth

Before you enter a salary negotiation, you need to do some research and analysis to determine your value in the market. You can use online tools, such as salary calculators, to get an estimate of the average salary range for your position and location. You can also look at similar job postings, talk to your network, or consult with a mentor or a recruiter to get more insights. You should also consider your achievements, skills, and contributions to your current or previous projects, and how they align with your employer's goals and needs. Knowing your worth will help you set a realistic and fair salary expectation and justify it with evidence.

2 Choose your timing

Timing is crucial when it comes to salary negotiation. You don't want to ask for a raise when your employer is facing financial difficulties, undergoing organizational changes, or dealing with a crisis. You also don't want to wait too long to bring up the topic, as you might miss the opportunity or lose your leverage. The best time to ask for a salary negotiation is when you have a strong performance record, a positive relationship with your boss, and a clear understanding of your employer's situation and priorities. You should also try to align your request with the company's budget cycle, performance review process, or project milestones.

3 Prepare your pitch

Once you have decided on your target salary range and the best time to ask for it, you need to prepare your pitch. Your pitch should be concise, confident, and persuasive. You should start by expressing your appreciation for your employer and your interest in continuing your collaboration. Then, you should highlight your accomplishments, skills, and value proposition, and explain how they benefit the company and its objectives. Next, you should state your salary expectation and provide some rationale for it, based on your market research and self-evaluation. Finally, you should invite your employer to share their feedback and perspective, and be ready to listen and negotiate.

4 Handle objections

During a salary negotiation, you might encounter some objections or resistance from your employer. They might offer you a lower salary than you expected, question your worth, or ask you to wait for a better time. You should not take these objections personally or react emotionally. Instead, you should handle them professionally and respectfully. You should acknowledge your employer's concerns, restate your value proposition, and provide more evidence or examples to support your request. You should also avoid ultimatums, threats, or comparisons with other employees, as they might damage your relationship and reputation. You should aim for a win-win outcome, where both parties feel satisfied and respected.

5 Consider alternatives

Sometimes, a salary negotiation might not result in the exact amount that you wanted. However, that doesn't mean that you have to settle for less or walk away from the table. You can consider alternatives or trade-offs that might compensate for the salary gap or enhance your overall compensation package. For example, you can ask for more benefits, such as health insurance, retirement plan, or stock options. You can also ask for more flexibility, such as remote work, flexible hours, or paid leave. You can also ask for more opportunities, such as training, mentoring, or career advancement. You should prioritize your needs and preferences, and communicate them clearly and respectfully to your employer.

6 Follow up

After a salary negotiation, you should follow up with your employer to confirm the outcome and express your gratitude. You should send a thank-you email or letter, summarizing the main points of the negotiation and the agreed terms and conditions. You should also ask for a written confirmation or contract, and review it carefully before signing it. You should also keep in touch with your employer until the new salary or raise takes effect, and update your records and budget accordingly. Finally, you should deliver on your promises and continue to perform at your best, to show your employer that you are worth the investment and deserve the recognition.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?