The Complete Guide to Negotiating a Raise
Paychecks still haven’t recovered from the financial crisis and raises in the US have stagnated. But that doesn’t mean you shouldn’t push to increase your worth.
You want to know the going pay rate for your job, but it’s also important to link your success with that of your employer. Based on the science and psychology of negotiating for a heftier paycheck, here’s the complete guide to getting a raise:
Most raises are given to prevent good employees from leaving
You don’t usually get a raise because “you deserve it” or just because you worked hard. A 2010 study showed that raises are given to retain top performers. So if you’re not an A-team player at your office and upper management doesn’t feel you’re flight risk, don’t count on a significant bump in pay.
“They need to like you.”
The first thing Harvard Business School professor Deepak Malhotra tells his MBA students about salary negotiation is “They need to like you.” Other leading experts agree. Persuasion expert Robert Cialdini tells me that liking someone is one of the six fundamental pillars of influencing people. Want to be more likable? Research shows you should encourage others to talk about themselves and ask for their advice.
Make your accomplishments visible
Stanford Graduate School of Business professor Jeffrey Pfeffer told me that the key to getting ahead is getting along with your boss, working on the projects she’s interested in, and letting her know about your accomplishments. What’s the best way to do this without being overbearing? Once a week, send an email summing up all the forward progress you’re making.