Would you like to make more money? You need to ask

Help Me Hank has some secrets to negotiating better pay

DETROIT – Many people can feel uncomfortable talking about money or negotiating a salary. However, PayScale.com found 75 percent of people who make the move to negotiate will receive a raise.

That's a pretty startling number and should inspire you to come up with a plan to approach your boss.

Of course, you don't want to go into that conversation unprepared. Help Me Hank has rounded up some key steps you can take to set the stage and we found one mistake you want to avoid.

Up first, get into the habit of tracking your accomplishments and contributions on the job. You should be doing this year round, and making special note of when you go above and beyond your job duties.

"Those are real standouts and those can be great ammunition for when you're going for that raise," said Ian Caulley, Director of Employer Relations at Oakland University.

Plus, he says recording your accomplishments can pay off in other ways, as material for updating your resume or your LinkedIn profile.

Don't wing it! Plan salary conversation carefully

When you have a list of your accomplishments, experts say you need to practice how you deliver that information. They say non-verbal cues will play a key role in that conversation. You should maintain strong eye contact, use positive facial expression, and open, and calm arm movements.

Once you're ready, time your meeting with your boss carefully. You don't want to ask for a raise during the annual audit or when your boss is particularly stressed. You should also avoid starting that conversation casually or spontaneously.

"I think the better approach is a professional one. So, it would be an email or an official request to discuss the topic," Caulley said.

How much money do you ask for?

Over the past eight years, many employees have been nervous about asking for a raise because of an uncertain economy.

Caulley said that climate has changed in southeast Michigan and the job market is heating up. If you've been putting off asking for a raise, now could be a good time to make that pitch, and you don't have to be satisfied with the standard 3 percent.

"I think in this hotter job market five... five to seven percent for the outstanding performer is not unusual," he said. 

You should also do some research to find out what employees in similar positions are making. You want to have a good basis for comparison, but you don't necessarily want to focus your arguments along those lines.

"You want to avoid talking about other people's salaries, whether its somebody working down the street at the competitor or a coworker down the hall. You want to keep it about yourself and your contributions and accomplishments," said Caulley.

Other advice on negotiating a better salary

  • Research cost-of-living in your area. If your salary is starting to fall behind, those statistics might help persuade your boss that an increase would be fair and necessary.
  • Be realistic on where you stand in the company. If you're already one of the highest paid people in your position, you may have a tougher sell on getting more money.
  • Focus on what you deserve rather than what you need.
  • If you can demonstrate ways that you have helped the company make more money, be sure to bring that information into the meeting. Or, show how you have improved how the company functions.
  • Be open to other options. If your boss can't swing a raise, see if a bonus might be an option, work from home, or more time off?
  • If there's no movement on additional perks, ask your boss what you can do in the future to earn more money or better benefits. Come up with a plan of action that will help you earn that raise in the future, using measurable goals. Ask for more frequent feedback, so you know how you're progressing.
  • Write a follow-up memo after the meeting.

 


About the Author: