You’re not sure if you’re being paid fairly compared to others in your position. What can you do about it?

1 Assess your value

The first step is to research the market rate for your role, skills, and experience. You can use online tools, industry reports, or network with peers to get a sense of the salary range for similar positions. You should also consider your achievements, contributions, and impact on your current employer. How have you helped them reach their goals, solve problems, or improve performance? Write down your accomplishments and quantify them if possible.

2 Prepare your case

The next step is to prepare your case for a salary increase. You should have a clear and realistic goal in mind, based on your research and value. You should also have a backup plan, in case your employer can’t meet your expectations. Think of other benefits or perks that you would accept, such as flexible hours, training opportunities, or bonuses. You should also anticipate and address any potential objections or questions that your employer might have, such as budget constraints, market conditions, or performance issues.

3 Choose your timing

The third step is to choose the right time and place to initiate the negotiation. You should avoid asking for a raise when your employer is busy, stressed, or facing a crisis. You should also avoid surprising them with your request, unless you have a strong reason to do so. Instead, you should schedule a meeting in advance, preferably after a positive feedback, a successful project, or a performance review. You should also choose a private and comfortable setting, where you can have a calm and respectful conversation.

4 Communicate your value

The fourth step is to communicate your value and request in a confident and professional manner. You should start by expressing your appreciation and enthusiasm for your work and employer. You should then highlight your achievements and impact, using specific examples and numbers. You should then state your desired salary and explain how you arrived at that figure, based on your research and value. You should also mention any alternative options that you would consider, if your employer can’t meet your goal.

5 Listen and respond

The fifth step is to listen and respond to your employer’s reaction and feedback. You should avoid being defensive, aggressive, or emotional. You should also avoid accepting or rejecting an offer right away, unless you are completely satisfied or dissatisfied. Instead, you should ask questions, clarify details, and seek understanding. You should also acknowledge your employer’s perspective and concerns, and try to find a win-win solution. You should also be prepared to walk away, if you feel that you are not being treated fairly or respectfully.

6 Follow up and confirm

The final step is to follow up and confirm the outcome of the negotiation. You should thank your employer for their time and consideration, and restate your agreement or disagreement. You should also ask for a written confirmation or contract, that specifies the terms and conditions of your new salary and benefits. You should also keep a record of your communication and negotiation, in case of any disputes or misunderstandings. You should also monitor and evaluate your performance and satisfaction, and be ready to negotiate again, if your situation or expectations change.