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Prep for More Pay
By Constance Gustke Wednesday March 31, 2010
Make a Plan, Stan So you want a raise! Whether you plan to negotiate a raise next week or next fall, the key is careful prep work, says Kathi Elster, an executive coach in New York and co-author of the bestseller, "Working for You Isn't Working for Me."
Raise Your Profile
Start with a snappy memo of your achievements, and add small wins that might get overlooked: a rave from a customer; your eagle eye on the competition; the 17 weeks you covered Maryann's maternity leave.
Tip: Write down your successes daily or weekly so you don't forget them. (Bonus: A steady and well-deserved ego boost.)
Know Your Allies
Ask managers in other departments to put in a good word for you. If you're self-employed, collect praise from colleagues in your industry. Volunteer on projects that expand your visibility, skills and contacts.
A Winning Strategy
- Know your worth by doing market research.
- Role play with a friend or mentor and rehearse all the possible scenarios, advises Amanda Steinberg, DW's earning diva.
- According to this fun how-to video, ask for a raise when you're doing significantly more than when you were hired. Added value justifies more money.
Know your own bottom line before you walk into your boss's office. If she says no, are you willing to try harder? Revisit in three months? Take perks in exchange for cash? Or start polishing your resume? Part of knowing your worth is realizing that you have options.
Tell us your experiences asking for more money.
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Written by anonymous, March 31, 2010
I think I just lost all respect for Daily Worth after watching that ridiculously awful YouTube video they linked to in today's post. If this issue is really a concern for people, then provide real resources.
Written by Monette Satterfield, March 31, 2010
Here's one thing that's come in handy (for clients and me too!). Have a specific figure in mind when negotiating fees or salary and benefits.
When they ask "Well what do you want?" you should have an answer, not a range. Something like this would work: "For my position and experience,$120,000 in salary is fair for the value I bring to the company."
Don't low-ball yourself either! Be sure to add any other points such as an additional week of vacation or other compensation. This approach gives you a place to start a negotiation instead of an open ended answer which is much easier to reject. Just beginning a dialogue greatly improves your chances.
When they ask "Well what do you want?" you should have an answer, not a range. Something like this would work: "For my position and experience,$120,000 in salary is fair for the value I bring to the company."
Don't low-ball yourself either! Be sure to add any other points such as an additional week of vacation or other compensation. This approach gives you a place to start a negotiation instead of an open ended answer which is much easier to reject. Just beginning a dialogue greatly improves your chances.
Written by Amanda, March 31, 2010
This is something I'm soooooooooooo bad at. I absolutely am horrible at negotiating my salary. I always low-ball myself, and then get frustrated when I get the low end of what I asked for.
I'm looking forward to seeing the comments on this one, as I'm *hoping* to need some negotiating tactics soon!
I'm looking forward to seeing the comments on this one, as I'm *hoping* to need some negotiating tactics soon!
Written by amanda, March 31, 2010
It’s funny that today’s email was about going after a raise because just yesterday I talked to my boss. I told him “I want to talk about me getting a raise, and I want to tell you why I think I deserve one”. I didn’t have to say much more than that, or really fight my case (I had notes and everything!). I got the raise, and I’m feeling super empowered that I took the situation into my own hands and did something about it.
Written by Amanda (DailyWorth Founder), March 31, 2010
@anonymous - What's so absurd? Sure, her voice is a little irritating. Yes, the quality of the video is not exactly MTV-worthy. But her points make a lot of sense-- especially to someone who has never asked for a raise and has no idea where to begin. Booo.
@Amanda #1 - sounds like you need to build some confidence. Just start by getting super clear on what you know you want and what you deserve. You'll work up to it. You just need practice.
@Amanda #2 (what a popular name!) - AWESOME! See. It works. All you have to do is ask. Brilliant.
@Amanda #1 - sounds like you need to build some confidence. Just start by getting super clear on what you know you want and what you deserve. You'll work up to it. You just need practice.
@Amanda #2 (what a popular name!) - AWESOME! See. It works. All you have to do is ask. Brilliant.
Written by Kenia, March 31, 2010
I liked the video. It made excellent points that are BASED on real resources, and I thought it made for well-structured how-to steps, but it didn't bore you because it was funny at the same time. I like how his argument for deserving a raise was "Marrying Your Daughter". Hilarious! @anonymous - Come on! It was funny!! Ha Ha? =P
Written by Laura, March 31, 2010
My 16-year old daughter, who models for my online shop, and who I pay monthly, asked me for more money and gave me her reasons. She hasn't been reading Daily Worth, but she may as well have been!(I said yes!)
Written by folayinka winifred , April 01, 2010
In my own case, what i do is volunteer myself for new innovative projects - especially those that are very technical and people are running away from. I bring up positive and new ideas, contributes immensely to the successes of such projects and programmes. After that, i step it down to my other colleagues or share the success stories with them. I even initiate publications or journal articles. At the end of the year, during the annual appraisal, i let the management know my contributions to the positive development and achievements of the organisation in the previous year, and what roles i have played in all these.
Written by MP Dunleavey, April 01, 2010
@folayinka--do you get a raise? i'd give you one!
@Laura--give that girl a DW subscription! good for her! (and good for you, mom)
@anonymous--we vet everything that goes on this site, with care and thought. keep reading...
@kenia--thank you! i chose it b/c it was funny--and it validated other reports i'd read on this topic. but the selling point was the humor. you need a little levity! and the point about lipstick was hilarious. who knows if it's true, but i think they threw it in there as a kicker, not a factoid.
@Laura--give that girl a DW subscription! good for her! (and good for you, mom)
@anonymous--we vet everything that goes on this site, with care and thought. keep reading...
@kenia--thank you! i chose it b/c it was funny--and it validated other reports i'd read on this topic. but the selling point was the humor. you need a little levity! and the point about lipstick was hilarious. who knows if it's true, but i think they threw it in there as a kicker, not a factoid.
Written by MP Dunleavey, April 01, 2010
On a more serious note, what I'm gathering based on our dialogue here and the articles out there, the bottom line really is: work up the nerve and ASK, dammit. i think a lot of people lose out on extra money because they are scared--or, like amanda, they lowball themselves. Asking gives you practice. Asking regularly makes the asking process less nerve-wracking. Don't get stuck on instant success, it's not always about the immediate Yes, it's about hearing no a couple of times and then getting a Yes. It's called negotiating.
Written by Susan, April 01, 2010
this may be a bit unrelated, but how should I respond when I'm interviewing for a new position and they ask for a salary history? I have been unperpaid in the past (because I was afraid to ask for more) but I don't want those numbers to be considered especially if the job for which I'm interviewing is unrelated or carries more responsibility.
Written by Amanda, April 01, 2010
Yeah, I think I'm more on the not asking for enough when I interview situation, too. I take what they offer if they don't ask what my range is OR I give a low range, and then get frustrated when they give me the very bottom of what I asked for.
I think it's not just a confidence issue (though it's certainly that!), but also a knowledge issue in actually figuring out my true "worth."
I think it's not just a confidence issue (though it's certainly that!), but also a knowledge issue in actually figuring out my true "worth."
Written by Lisa, April 04, 2010
I am a folklorist working in the public sector as the coordinator of our heritage area. (We are an association of governments, and the heritage area is under economic development). Awhile back the CEO announced that he was hiring a group to do a salary survey to determine if everyone's salaries were up to standard. Since my position is a little different, he asked me to give him a list of contacts for people working in my field in other parts of the state. I did a great job researching other similar positions, none of which are under an agency quite like mine. As it turned out, the group doing the survey did something to mess up their contract, and the survey never happened. Then came the economic crash. After quite awhile we were told that two people would be getting a raise, and I was one of them, based on the research I did to validate and compare my position. Although I wasn't aware I was using the tools talked about in this article, now I feel stronger about having the confidence to stand up for the value of what I do and ask for what I am worth. The pay raise was retroactive from the beginning of our fiscal year, so there was a nice bonus check when it came through. So another tip to pass on is that if your occupation is a little unusual, or you are an artisan or otherwise self-employed, you are a professional just the same as in other fields that might be more commonly defined. Thanks for this great article and all the other Daily Worth ones. I like how the messages are short, don't take long to read, and pack so much value. I've shared the site with several friends, my sister and my daughters!
Written by Abby, April 06, 2010
I haven't watched the video, but something that's important to remember when negotiating, is that sometimes it's just as good to remain silent. (This is different than ASKing for a raise.)
For instance, when I accepted my last job offer, I received a $ offer that was just a little lower than what I had in mind. I told them I wanted 24 hours to think about it - lo and behold, the next day I received a new offer for $3K higher. Not a ton of $, but for not actually asking for more $, it was definitely worth it. That extra $3K put me $1K higher than what I was planning on asking for! So sometimes it's good not to show your cards right out.
For instance, when I accepted my last job offer, I received a $ offer that was just a little lower than what I had in mind. I told them I wanted 24 hours to think about it - lo and behold, the next day I received a new offer for $3K higher. Not a ton of $, but for not actually asking for more $, it was definitely worth it. That extra $3K put me $1K higher than what I was planning on asking for! So sometimes it's good not to show your cards right out.
Written by Amanda, April 16, 2010
I tried your trick, Abby, hoping that since they knew the salary they offered me was a little low (I talked to one person about the salary, then another called to discuss the benefits and she said "X didn't think you were happy about what we offered" so they knew), they would offer me more. Didn't work.
So then I called back and told them I couldn't make it work on what they were offering. I've looked up "What you're worth" on several different Web sites, and what they were offering me was about $8000 less than what those Web sites say people with my experience are averaging. I asked for $8000 more and said I needed $6000 more and no dice.
So apparently I need to keep working on this negotiating thing.
So then I called back and told them I couldn't make it work on what they were offering. I've looked up "What you're worth" on several different Web sites, and what they were offering me was about $8000 less than what those Web sites say people with my experience are averaging. I asked for $8000 more and said I needed $6000 more and no dice.
So apparently I need to keep working on this negotiating thing.
Written by Jan Jay Jam Sam, June 14, 2010
How can I earn an income and be opposed to nuclear energy, weapons including radioactive isotopes?
Written by Shelley Lieber, June 28, 2010
What advice do you have for entrepreneurs and self-employed women?
Written by Theresa Montoya, July 27, 2010
How do I branch Iout and sell my handmade aprons and vintage items? I want to really strive at being a great entepeneur!
Written by Kimberly Ann Hagerty, August 01, 2010
What a great tool to have. Just knowing there are others to talk to is a great help when you're building up your resume and/or strting with a new company! Mine is the latter. Now the fun begins! Bonus 3x a yr over the quota given. Sales is a tough one. I'm sure I'll be back with some questions and hopefully news of my first bonus!!!
P.S. I test this on a regular basis. It's fun, once you get used to it. If she had said no, I would have said, $25, then $15, then $10, until she gave me just a wee bit more. My belief: You can almost always get a leetle more. If you ask. ASK!!!