How To Ask For A Raise In 4 Simple Steps
What we’ll decode today:
How to ask for a raise or negotiate a higher salary
How to overcome the objections that you’re going to hear when you ask for the raise.
First of all, how you do even approach the topic?
Well, you’ll be in one of two situations:
You’ll have been at the company for a while and you’ll feel like it’s time to ask for more
In either one of these situations there are four basic principles that will really help you become confident and proficient when handling these conversations.
And for the record, asking for it is actually the easy part. It’s the conversation that follows that trips most people up.
So, before we get into how to bring it up, let’s cover some of the objections that you might hear:
One of the easiest responses is for them to say that they want to talk about it later, or that they don’t have time right now. That most commonly happens when you are an employee at a company and you are asking for a raise. They just want to put it off and not talk about it, because that’s the easiest thing for them to do.
Or they’ll say that they don’t have the budget, and that they can’t do anything about that.
My former manager said to me, “You’re lucky to get what you get. Try going somewhere else and you won’t be paid this much.”
I had a manager actually say that to me, and it really bugged me because this is a belief, a total belief. So I went out and got another job that paid me more. No problem! What she said to me was actually complete BS – ‘belief systems.’
So, what they say isn’t always true. You have to focus on your own message and beliefs.
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What can you do when you’re faced with one of these objections that doesn’t include folding like a cheap suit? (which is what most people do because they’re not prepared)
Step #1: RESEARCH
The most crucial thing of all is to have your research done before you enter the discussion. Before you even go in, before you even talk to anybody about a raise or negotiate a salary, you want to do your research.
You’ll be given a range, you’ll be able to see, and then you’ll be able to place yourself on that range.
And the best way to do the research is to actually go out and speak to people. Talk to people in the field, interview people that are doing the same job that you are, and find out about how much money they are making.
This, I talk about more in my online course about, finding your ideal job, strategically networking, & more, which shows you how you can get that type of information from people.
Step #2: USE RELIABLE DATA SOURCES
Use reliable resources to gather your data, so you can feel confident about what you’re bringing to the table. This is super important, because if they question you on your data, you want to be able to back it up.
You want to be able to cite sources that are reliable, and if you know of other people working at other companies that are making a certain amount of money, that is the best resource to have.
You don’t have to name names or companies. You can just be certain that you know that someone else at a certain other company is making X amount of dollars, and you deserve at least that. Because it’s the same role, it’s comparable.
That’s the best way to do it, but online research definitely counts, and it’s a source that you can bring to the table to use in your negotiations.
Step #3: STAY ON MESSAGE
Stay on message. This is where people will try to throw you off, they’ll try to distract you, and they’ll try to change the subject. But like a politician, you’ve got to stay on message.
If they say to you “Oh, well we really don’t have the budget for that,” then a good response would be to say “I really understand that, and I do get it. However, the position that you are hiring for and the experience that I bring warrants this amount of money.”
Then you can go into your research, talk about the range, and say why. You want to understand what they are saying and then just proceed, because you can’t just say “Oh yeah, I understand,” and then that’s it.
That’s what most people do, because they’re not prepared to respond.
Step #4: KNOW YOUR WORTH
When you know your worth, you go in there with confidence. You know that you can do a job, you know you can do it well, and you know that you could probably do a better job than anyone else they’ve seen.
When that happens, you need to stay on message when you get into the conversation.
They will sense whether you’re confident or not. If you go in there and you’re all shy and sheepish, and you say “Yeah, I don’t really think that’s enough money. Like, I would really prefer a little bit more than that,” then you’re done. Because they can sense your fear.
When you’re confident and you speak eloquently, and you say, “Well, for the role that you’re hiring, this is the range from my research that I can tell is what the market is paying right now, and I am not able to accept anything less than this at this moment. Is this something that you’d be able to work with?”
That answer compared to the previous answer (it also has a lot to do with your tone and everything) has a huge impact on whether or not you’re going to be successful in the discussion.
And there you have it.
Research before you go in. There’s a key distinction between people who don’t research and people who research. People who research have data. They have facts to back things up. You can argue with people’s feelings, but you cannot argue with facts.
Make sure you’re confident about your research and your data so you know for sure, and you’ve checked multiple sources.
Stay on the message. Don’t let them distract you. You know what you want to say.
Don’t lose sight of your worth. They can smell your fear, like a shark in the water. Don’t let them smell it.
Thanks for reading! If you liked this post and you want more in-depth info on this topic feel free to download my step by step guide to boosting your salary.
In This Cheat Sheet You’ll Find:
The 5 lines that catch most people off guard in salary negotiations.
Word for word scripts to respond to each of the 5 common objections.
A practice sheet so that you can be ready for any curve ball.
Here is some feedback I’ve gotten from this guide, and I get new emails like this every day, and they NEVER get old!
And remember, the current system isn’t perfect, but you can outsmart it. I’m here to prove to you that you do have what it takes.
Thanks for reading and I’ll see you next time!
Leave a comment below if you have any experience with asking for a raise in the past and how it turned out for you.
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