How can senior executives negotiate a higher salary?

2 Choose the right timing

Timing is crucial when it comes to negotiating a higher salary. You want to avoid asking for a raise when your company is facing financial difficulties, undergoing major changes, or dealing with a crisis. Instead, look for opportunities when your company is performing well, when you have delivered exceptional results, or when you have taken on additional responsibilities or challenges. You can also align your negotiation with your annual performance review, contract renewal, or promotion.

3 Build rapport and trust

Negotiating a higher salary is not only about numbers and facts, but also about relationships and emotions. You want to build rapport and trust with your manager, HR, or decision-maker, and show that you are a valuable and loyal team player. Express your appreciation and satisfaction for your current role and company, and highlight your achievements and contributions. Avoid making ultimatums, threats, or comparisons that could damage your relationship or reputation. Instead, focus on finding a mutually beneficial solution that aligns with your company's goals and values.

4 Communicate effectively

Communication is key to any successful negotiation. You want to communicate your salary request clearly, confidently, and respectfully, and back it up with evidence and rationale. You also want to listen actively and empathetically to the other party's perspective, concerns, and interests, and address them accordingly. Use open-ended questions, positive feedback, and collaborative language to engage in a constructive dialogue and avoid conflicts or misunderstandings. Be prepared to handle objections, counteroffers, or rejections, and have a plan B in case your initial request is not met.

5 Close the deal

Once you have reached an agreement on your salary, you want to close the deal and secure it in writing. Thank the other party for their time and consideration, and confirm the details and terms of the offer. Ask for a written confirmation or contract that specifies the salary amount, frequency, date, and any other benefits or incentives. Review the document carefully and sign it only when you are satisfied. Celebrate your achievement and continue to deliver value and excellence to your company.

6 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?