7 Expert Tips To Negotiate That Pay Raise You Want

A 2015 survey found that 57% of women in India have never asked for a raise. 57%, that is more than half. Here’s how to ask for that pay raise in a way that maxes your chances of getting it!

There are several reasons why we don’t ask for a raise.

First, we ourselves think we don’t deserve this. Secondly, we convince us that even if we broached the subject we are less likely to succeed.

Here are 7 expert tips that not only guide you for a successful negotiation but also help you pullout with a walk away strategy.

1. Assess your contribution – Be accurate when you are trying to determine your quality and quantity of work. Have you worked at the current position for a meaningful duration? Have you always met your deadlines? Have you assisted your peers in completing their tasks? Have you exceeded expectations in trying to work out of your comfort zone? Is there a specialised skill you bring to this particular assignment? Before you walk into a salary negotiation, bolster your confidence. This will add the much needed chutzpah to the conversation.
2. Know your value – Never walk into a negotiation without a number. Think of this as a thumb rule. If you are not crystal clear about what you are negotiating, then you let the other person determine the figure. This is the most common mistake and invariably sets you up for failure. To determine the number, it is crucial to understand the current market rate that match your skill set. Do online research, factor in geography and arrive at a reasonable number. Be rest assured that when you have a specific number in mind, you will walk away from the conversation with a final offer closer to this number.
3. Do not ramble – If you are walking into a negotiation without preparation, trust me, it will show. You will ramble and the conversation will lose focus. There are specific sites to help  you organize your points. Use shenegotiates.com to create a strategy. How to approach the conversation? How to deflect questions that seem to distract? If you have equipped yourself well, it will boost your spirit and calm your nerves.
4. Start at the top – You have outlined the conversation, prepared talking points and even have a specific number in mind. But this is a negotiation. So we have to accept the fact that the other person is going to try and talk us down. So always start at the top of the range. To do that you have to convince yourself that you deserve this. Still having doubts, repeat Step 1. Make sure the specific number you have arrived at is at the mid point. Even though it might seem tempting to start at the middle, remember, you need to give the other person some wiggle room. This gives them the satisfaction that they have also participated in the negotiation. But this ensures that you will also walk away pleased with the final figure.
5. Break off point – Somewhere during the negotiation, you will sense which way the conversation is going. If you feel that the other person is being persistent or they do not have resources currently to compensate then have a break off point. This will be a number that is so low that it does not make sense to proceed with the conversation. Even though walking away from the negotiation is going to be hard, you have to be prepared. Do it with grace, never lose your temper and bear in mind that the process is iterative. Come back to the table again with the same vigour.
6. Time it: Negotiations, like life itself, are all about timing. Even if you have prepped well, if you ask for a pay raise during the performance appraisal review then it is already too late. Resources have been budgeted and final figures are already arrived at. For your boss to go back to Human Resources with your claim is an uphill battle. Therefore,  time the conversation about three months in advance. That is when they are actually allocating the budget and your request will factor in. Also if possible plan for a meeting on a Thursday. Studies have shown that people are more flexible and accommodating on Thursdays knowing that a work week is almost done.
7. Negotiate – During the actual conversation, ask a lot of questions. Try to understand the needs and concerns of the other person. Do not make threats, use positive language and put out the number(at the top of the range) up front. Highlight your accomplishments from the cheat sheet and also focus on your future contributions that will get your boss excited about. Do not mention personal needs or priorities.  Listen and don’t get anxious. If your boss says “No”, does not mean the conversation is over. Question, reason out and continue the negotiation.

Negotiation seems like a rodeo bull. But the only way to ride the bull is by taking it by the horns. So be prepared and be optimistic. The only way to win is to start the conversation. Good luck and Godspeed!

Image via Pexels

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