12 Things to Do When Negotiating Your Salary or Promotion

Negotiating your salary or a promotion can be an intimidating process, but it’s an essential skill for advancing your career. Whether you’ve received an offer for a new role or are seeking a raise or promotion, how you approach the negotiation can significantly impact your compensation and future opportunities. Here are the top 12 things to do when negotiating your salary or promotion to ensure you get the best possible outcome.

Do Your Research
Before entering any salary negotiation, it’s crucial to research industry standards for the role you’re in or are seeking. Use resources like Glassdoor, PayScale, or LinkedIn Salary Insights to understand the typical compensation range. This will give you a clear idea of what you should be asking for and help ensure that your expectations are realistic.

Know Your Worth
Understanding your value to the company is key. Reflect on your accomplishments, unique skills, and contributions. Be ready to present evidence of how you’ve added value through specific examples, whether it’s meeting or exceeding goals, driving projects, or solving key problems. The more you can demonstrate your impact, the stronger your position in negotiations.

Choose the Right Timing
Timing is crucial when negotiating a raise or promotion. Ideally, you should have this conversation during your performance review, when the company has recognized your contributions. If you’re asking for a raise outside of review time, make sure it aligns with your achievements or a significant milestone, such as successfully completing a large project or achieving company goals.

Prepare for the “Why”
Employers will want to understand why you’re asking for a raise or promotion. Be prepared to explain how your responsibilities have evolved, how your work has exceeded expectations, and why you believe a salary adjustment or promotion is justified. Tailor your request to highlight your contributions and how they align with the company’s goals.

Frame Your Request Professionally
Approach the conversation professionally and confidently. Instead of focusing on your personal needs or financial situation, frame the conversation around your professional value and contributions. For example, say, “Given the increased responsibilities and the results I’ve achieved, I believe a salary adjustment is appropriate,” rather than “I need more money because I have bills to pay.”

Know the Range
If you’re uncertain about the salary range for your position, consider asking the hiring manager or HR what the range is for the role. Understanding the range will help you position your request within an acceptable limit. Never settle for the first offer; instead, aim for the higher end of the range if your qualifications support it.

Be Ready to Negotiate Benefits
In addition to salary, consider negotiating other benefits, especially if the company can’t meet your salary expectations. This might include bonuses, additional vacation days, flexible work hours, professional development opportunities, or remote work options. Sometimes, benefits can be more valuable than salary and might give you the work-life balance you desire.

Avoid Sharing Your Current Salary
When negotiating a raise or promotion, avoid sharing your current salary unless explicitly asked. This information can limit your ability to negotiate. Instead, focus on the value you bring to the role and the market rates for your position. If pressed, redirect the conversation by emphasizing the industry standards and your qualifications.

Practice Your Pitch
Before the negotiation, practice your pitch. Rehearse with a trusted friend, mentor, or coach to ensure you can confidently articulate your points. Practicing will help reduce nervousness and allow you to refine your language to keep the conversation focused and persuasive.

Be Prepared for Pushback
It’s possible that your employer may not be able to meet your request immediately. Be ready to respond calmly and professionally. If they offer less than you expected, ask for specific reasons and determine what conditions or performance goals you need to meet in order to get closer to your desired salary. Stay open to alternative solutions, such as a performance-based raise in six months.

Be Flexible and Open to Negotiation
While it’s important to know your worth, it’s also important to remain flexible. Be open to negotiating different aspects of your compensation package. If salary alone isn’t possible, consider negotiating other factors, such as additional bonuses, more vacation time, or stock options.

Know When to Walk Away
If the company is unwilling to meet your compensation expectations and has not provided a path for future salary growth, it may be time to consider other opportunities. Walking away isn’t always about leaving the job, but sometimes it signals that your value isn’t fully recognized. If you’ve made your case and the company doesn’t budge, evaluate if staying is still in your best interest.

Negotiating your salary or promotion doesn’t have to be a daunting task. By doing your research, preparing your case, and approaching the conversation with professionalism and confidence, you can set yourself up for success. Remember to remain flexible, open to alternatives, and patient during the process. With these 12 tips, you’ll be well-equipped to navigate salary negotiations and secure the compensation and career growth you deserve.