How to Negotiate a Salary Raise

You deserve a raise. You’ve worked hard, and you’ve earned it. That’s why it’s so frustrating to watch your salary stagnate even as your responsibilities grow, especially when you want to buy a house or start having kids. Fortunately, there are ways to get around this problem. One of them is by negotiating a raise yourself—and if you follow these steps from the experts at SmartAsset, that’s exactly what I’ll show you how to do!

Know the market rate for your job.

You can learn a lot about what other companies are paying employees in similar roles by doing some research on the internet, asking friends and family, or talking to people in your industry. Glassdoor.com is a great resource for this kind of information; it aggregates salary information from anonymous employees of various companies who have submitted their salaries to Glassdoor’s website.

Think about the value you bring to your company.

As you think about how to negotiate for a salary raise, it’s important to consider the value you bring to your company. You should be able to answer this question: “What am I worth?”

To figure out how much your skills are worth, think about what tasks and responsibilities make up your job. Then consider what would happen if someone else had to take over those duties–how long would it take them? What sort of training would they need before they could do it? How much more money would they need in order for their performance level (in terms of quality and quantity) match yours?

You can also look at other employees who have similar titles or work in similar areas as yours. Are their salaries higher or lower than yours? How does this compare with how much work each person does every day?

Know when to ask for a salary raise.

The best time to ask for a raise is when you know the company’s policies, when your performance review is due, and that you are ready to ask for it.

If you are not confident about asking for a raise then don’t do it!

Find out who are your stakeholders.

The first step in negotiating a salary raise is to find out who are your stakeholders. Who is in charge of your salary? Who determines promotions, raises and bonuses?

The best way to find this information out is by asking around. Ask friends or relatives who work at similar companies what their compensation structure looks like and if they have any advice on how to get more money from their employer. You can also read reviews online about other companies’ policies regarding salaries so that you will have some idea of what to expect when going into negotiations with your own employer.

Negotiate your salary raise with confidence.

To negotiate with confidence, you must be confident in your skills and value to the company. You need to know that you’re bringing something valuable to the table.

You also need to have a clear understanding of what problems the company is facing and how you can solve them by doing what you do best (or better). This will help build trust between yourself and those who may be skeptical about giving up some salary for an unknown quantity who might not even stay with them long enough for their investment in training new employees or hiring someone else entirely worthwhile.

If there are opportunities within this role that could lead towards growth within other areas at this organisation (or others), then mention those too!

You can negotiate a salary raise if you know what to say and do.

You can negotiate a salary raise if you know what to say and do.

To start, know the market rate for your job and the value you bring to your company. Then find out who are your stakeholders (your boss, coworkers and subordinates). Finally, ask for a raise at the right time–when there’s an opening in the budget or when someone else leaves or gets promoted–and make sure that it’s justified by facts rather than emotions or wishful thinking.

If you want to negotiate a salary raise, it can be an intimidating process. But remember that you’re not alone–there are plenty of other people who have asked for more money in their careers. And with some research and preparation, you can make sure that your request is well-received by your boss or HR manager.