springraise.com

Salary negotiation for a raise is tricky business. How do you balance your personal interest in making more money with the political issues with your manager? When there isn’t a promotion along with the raise, then justification can get sticky. Here are some solid tactics to help get you the salary increase you’re looking for:

1. Know what your peers make

It’s not rocket science that if your peers; salaries are higher than yours, then it’s justified for you to make what they make—especially if you have outperformed them.

2. Know the salary band for your position

The salary band often is tied to your position. If you’re paid at the lower end of the band then your manager will have some room to pay you more money. That’s a great backpocket piece of information to have. It won’t get you the raise you want by itself, but you’ll know what salary range is realistic to expect.

3. Give your manager a good reason to approve the increase

What’s in it for her? She will have to spend some political capital to get your raise increased, so what does she get out of it? You’re going to want to have that figured out before opening the negotiation. Consider things like loyalty and retention since your manager is likely evaluated on those measures. Offer special projects that will make your manager look good to their superiors. Creating a win-win is the best way to ensure your increase is approved.

4. If you have an offer from another company, show it to your manager

7. Most people make the mistake of quitting their jobs first before trying to negotiate for more money. If you would like to stay at your current company, show respect and set up a meeting with your manager to go over the offer. Explain that you want to stay, but there are financial considerations and you want to discuss them. Good managers will welcome that conversation and try to work with you to get you more money.