When you need to negotiate a raise, you must understand how to present your request in a way that maximizes your chance of success. Using specific numbers and emphasizing your personal bottom line as well as the company’s bottom line is important. Also, it is critical to avoid using ultimatums that can damage your working relationship with the employer.
Generally, you want to ask for a raise during an annual review or at the time of a promotion. Taking into account the company’s financial situation can help, too — such as when it recently needed to lay off workers or when global events are impacting the company’s revenue.
It is best to negotiate in person with a senior manager, rather than sending a letter or email. In addition, you should schedule the meeting at a time when the boss is not preoccupied or distracted.
Start the conversation by describing your value to the organization. Explain your unique contributions such as creating new business, reducing costs or increasing the bottom line. Bring data to support these claims, but avoid overstating your accomplishments or exaggerating your role’s importance.
Another strategy is to use the foot-in-the-door technique. This tactic entails asking for an unreasonable amount first, then following up with a smaller request that is more reasonable and easier to agree to. For example, if you start out by asking for $15,000 and end up with $8,000, your employer may feel compelled to agree to your lower request. Raise negotiation strategies