7 Tips to Negotiating the Raise You Deserve

Updated on 2/24/2020 at 10:20 AM

If you're upset about your pay or the promotion you've been wanting for a while that never came, it's time to ask for it! Make sure your manager knows that you're gunning for a raise this year and bring it up at your annual performance review, which should be coming up for many of you. Jim Hopkinson, author of Salary Tutor: Learn the Salary Negotiation Secrets No One Ever Taught You, shared a couple of tips for savvy professionals to use when negotiating for a pay bump. Here they are:

List your achievements. "From your first day of employment, you should maintain a simple document that lists your accomplishments. Keeping this updated will give you ammunition to use during a performance review – or bullet points for your resume if you decide to move on."
Be seen. "Get noticed by volunteering for new and high profile projects and becoming more involved in the company as a whole."
Find the money position. "When negotiating salary in a bad economy put yourself in a position to work on revenue-generating projects with incentives for bonuses."
Emphasize your work performance. "When asking for a raise, don't complain about your bills being high or what someone else in the company makes. This is about your on-the-job performance. You earn a raise by making the company money, saving the company money, or doing a task that no one else can do."
Consider the schedule. "You must know the process by which your company gives reviews. Is it once at the end of the fiscal year for everyone? On a rolling basis based on individual hire date? Knowing when operating budgets are created and approved is important so you can make your pitch for more money before funds are allocated."
Figure out your style. "Also, adapt to your boss' style. If they're the buttoned-up, no-nonsense, bottom-line type, you better make sure to back up any proposal with facts and figures to support your argument. If their style is laid-back and big-picture, present your case in terms of how you fit in with the company as a whole, how you interact with fellow employees on the team, and what your vision is moving forward."
Make yourself heard. "Make sure to increase communication in the weeks and months leading up to your review. Did you sign a new client? Hit your deadline? Bring a project in under budget? Go head and CC: your boss — and in some cases, their boss — so that they're aware of your recent accomplishments."