What do you do if you're negotiating a salary or raise in a business strategy position?

In my experience, understanding your value is paramount before entering any negotiation. This entails knowing the typical salary range for your position in the industry and region, and recognizing the unique skills and experiences you offer. Articulate how your strategic thinking, problem-solving abilities, and successful initiatives have positively impacted the company. By demonstrating your value proposition, you establish a solid foundation for negotiation, ensuring that your contributions are appropriately recognized and compensated.

To negotiate a salary or raise in a business strategy position, start by researching market rates, evaluate your contribution, set realistic goals, schedule a meeting, present your case, quantify value, be flexible, listen and respond, document the agreement, and follow up. By following these steps, you can increase your chances of achieving a favorable outcome.

When negotiating a salary or raise in a business strategy position, it's essential to prepare thoroughly and approach the conversation strategically. According to experts at Harvard Business Review, it's crucial to "anchor high, know your value, and practice empathy." Analyse your obligations. Are you doing it well? If so, you are doing what you were hired for. In other word, you are doing what is expected from you. So, you bring no additional value to your employer. To bring more value to the company you work and have good highlight of your achievements and contributions you must do more than expected from you. With that clear to all around you it will be more feaseble conversation.

My tips : Dare to ask because without asking... no increase Empathize with yourself and understand your own way of working. Prepare, prepare, prepare Have objective criteria in relation to your market and position. Know what you're asking for and have several options to meet your challenges. Find the kairos, i.e. the right moment to ask

Understanding your value and articulating your unique skills is crucial for successful negotiations. Demonstrating how your contributions have positively impacted the company strengthens your position and sets the stage for a productive discussion.

In my experience, conducting thorough market research is essential to support your salary request effectively. Examine industry standards for business strategy roles at your level, considering factors such as the size and revenue of your organization. Additionally, gather information on what competitors pay for similar positions if available. This data serves as a benchmark and provides leverage during negotiations. Remember, knowledge is power, and having concrete figures to reference can strengthen your case and make your negotiation more compelling.

I would suggest firstly, Know your worth and what expertise you will bring to the organization, how it will add value and improve the organization's current status. Make a plan, then outline your strategies.the strategy must be specific to solving the problem. Educate your team on your plans and what strategies to implement and foresee the outcome, evaluate and have the data presented to the management and negotiate an increase in your salary package.

Timing is key when discussing salary; aim for moments of accomplishment or performance reviews to maximize negotiation leverage. Avoid periods of company stress, opting instead for times of positivity and when your contributions are most visible.