- On January 8, 2017
Getting a raise takes advance planning. Start thinking now so you are ready to negotiate when the timing is right:
- Find out what your manager faces to give an employee a raise. Get metrics and a timeline, ideally in writing. (If that’s too awkward, take good notes and jot down the date.)
- Record your accomplishments/results throughout the year, including $ saved, % growth, key deals closed, etc. Make sure they are in line with what your manager values, and use them for when you make your case for the raise.
- Learn how your compensation fits within the company. What do your peers make? How about those above and below you? Now you have a sense of what’s considered reasonable.
- Learn what market pay is. You can ask peers in similar roles what they make, but to ask, you need to have built a strong relationship with them already. You can also turn to third party sources like Glassdoor, industry surveys, etc. Another way is next time a recruiter calls, ask for the general comp range for that job!
- Demonstrate commitment to the company. Managers hate going to bat for someone who is clearly out for themselves and seem ready to walk any time. Think of ways to show you are committed to the company and that you are a worthwhile investment.
Links to other good resources on this topic!