Everyone wants to make more money. One of the “easier” ways to do this (compared to yet another side hustle) is to earn more money at what you’re already doing. But you can’t just walk into your boss’ office blasting “B!#%$ Better Have My Money”(fun to imagine though). You’re gonna have to negotiate. And let’s be real, negotiating is scary AF. That doesn’t mean you shouldn’t do it, though. All worthwhile things in life involve a little danger, right?
The first thing you want to do is create a brag list for yourself. What have you brought to the company? How have you improved things? Be specific. Such as “I saved the company 10 percent” or “I increased sales by 25%”. Include all the ways you’ve gone above and beyond and killed it at your job. (It can be hard to remember all the boss shit you’ve done, so get in the habit of collecting your accomplishments in an email folder or note on your phone).
You want to wait at least six months to a year into the job before asking for more moolah. Waiting until your employee review is also smart. On top of that, you want to know your company’s fiscal year, so you can ask for a raise with ample time for your boss to factor it into next year’s budget.
Make sure you have a specific number in mind. Look at what you’re currently making and then head on over to that internet search bar and start researching what other people in similar positions are making.
Check out Payscale and Glassdoor to get info on average pay. Filter for geographic location as well, as that will affect salary ranges (think of cost-of-living in North Dakota vs. New York).
Once you have your brag list and your informed research on salaries, pick the highest salary you want, a mid-range salary, and the lowest you’re willing to go. So if you’re making $40k, maybe your stretch goal is $55k, mid-range is $50k, but the lowest you’ll go is $45k. In general, you can ask for 10 to 20 percent more than what you’re making.
Before going in for the kill going after the money you rightfully deserve, practice with a trusted friend or record yourself with your phone. You want to sound confident even if you don’t feel it.
Next, book a convenient time with your boss to chat. If there are already employee reviews coming up, even better. Get ready, and get your money!