Last updated on Jul 19, 2024

You're aiming for a salary increase with your current employer. How can you secure the raise you deserve?

Navigating the conversation about a salary increase can be tricky. You know your worth and feel the time is right to address your compensation. But how do you approach this delicate subject to ensure success? It's not just about demanding more money; it's about strategically positioning yourself and effectively communicating your value to your current employer. Let's dive into how you can secure the raise you deserve, keeping in mind the importance of preparation, timing, and negotiation skills.

1 Know Your Worth

Before you initiate any conversation about a raise, it's crucial to understand your professional value. Research the market rate for your position within your industry and geographic location. Reflect on your contributions to the company, including any successful projects or additional responsibilities you've taken on. This information will form the foundation of your request, providing you with the confidence to articulate why you deserve a salary increase. Remember, knowledge is power, so arm yourself with facts and figures to back up your claim.

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Saumya Verma

HR Consultant | Establishing HR in Organisations
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Understand the work you perform everyday. Basis the past records, look for feedbacks from your manager. Ensure to highlight the positives. Present your points basis past performance and market standards. Be assertive and negotiate.

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Kevin Bottino, CPRW, CERW, CIC, CVCS

US Air Force Veteran 🔹 Certified Professional Résumé Writer, Interview Coach, & Veteran Career Strategist 🔹 Specialized in Résumé Writing, Interview Prep, Career Coaching, & LinkedIn Optimization 🔹 200+ LI Reviews
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Speak to the value you bring to the organization and quantify the results and impacts you deliver. In doing so, you communicate how your company benefits from your contributions and justifies a deserving salary increase.

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Om Dev Bajaj

Subject Matter Expert/ Recruitment Specialist with expertise in Engineering/IT/NON-IT/Manufacturing Recruitment/Infra
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To secure a salary increase, highlight specific achievements and their measurable impact on company success. Research industry standards to benchmark your current salary. Request a formal meeting with your manager, emphasizing your dedication and contributions. Practice effective negotiation skills, addressing potential objections calmly and professionally. Be open to alternative compensation options if immediate salary adjustment isn't feasible. Follow up in writing to summarize agreements and maintain a positive, proactive approach to career advancement.

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2 Timing Matters

The timing of your request can significantly impact its outcome. Aim for a moment when your value to the company is evident—perhaps after a successful project completion or during a performance review. Be mindful of the company's financial cycle; asking for a raise during a downturn or budget cuts may not be well-received. Instead, choose a time when the company is thriving, or at least stable, which might make your employer more amenable to discussing salary adjustments.

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Lauren (Sigfred) Furth

Connecting CPAs with Progressive Firms | Dedicated Search Partner | Recruiting Manager with Premier Financial Search
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Choose the right moment to discuss your raise, such as during performance reviews or after a significant achievement. Avoid times when the company is experiencing financial difficulties or major transitions.

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3 Prepare Your Case

Preparation is key when asking for a raise. Create a compelling narrative that highlights your achievements, skills, and dedication. Be ready to present specific examples of how you've contributed to the company's success. This could include ways you've saved money, improved processes, or boosted revenue. By clearly outlining your accomplishments, you demonstrate your value and make it harder for your employer to say no.

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4 Practice Diplomacy

Approach the conversation with professionalism and diplomacy. Start by expressing gratitude for your current position and the opportunities you've had. Then, transition into discussing your request for a raise. Be respectful and avoid ultimatums; instead, focus on the mutual benefits of compensating you fairly. Your aim is to maintain a positive relationship with your employer while advocating for yourself.

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5 Negotiate Smartly

Negotiation is an art, and when it comes to discussing salary, it's important to be strategic. If your initial request isn't met with the response you were hoping for, be prepared to negotiate. Consider other forms of compensation, such as additional vacation time or professional development opportunities, if a financial increase isn't feasible at the moment. Remember to remain flexible and open to counteroffers while still aiming for what you believe you're worth.

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6 Follow Up

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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You're aiming for a salary increase with your current employer. How can you secure the raise you deserve?

1

2

3

4

5

6

7

1 Know Your Worth

2 Timing Matters

3 Prepare Your Case

4 Practice Diplomacy

5 Negotiate Smartly

6 Follow Up

7 Here’s what else to consider

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You're aiming for a salary increase with your current employer. How can you secure the raise you deserve?

1

2

3

4

5

6

7

1 Know Your Worth

2 Timing Matters

3 Prepare Your Case

4 Practice Diplomacy

5 Negotiate Smartly

6 Follow Up

7 Here’s what else to consider

Interviewing

Rate this article

Thanks for your feedback

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