Tactics to Negotiate a Raise

Negotiating a raise is one of the most difficult aspects of advancing your career. If you don't know how to negotiate properly, there's a good chance you are leaving money on the table every time you have a performance review. If you are ready for and deserve a salary increase, follow these tips to boost your chance of receiving a handsome compensation for your knowledge, skills and expertise.

1. Gain Visibility

Volunteer for projects that have a high level of visibility within the company. Negotiating a raise is much easier if you have strong relationships with high-level managers.

2. Toot Your Own Horn

Timing is everything when it comes to negotiating a raise. If your manager isn't aware of your achievements, you need to do a little bragging. Tell your team leader and department manager about your achievements on a regular basis.

3. Prove Your Worth

Don't ask for a raise a few months after starting a new job. You must prove your value to the company first. Prove your worth by tackling complex projects, putting in extra hours and going out of your way to build good relationships with department leaders.

4. Track Your Progress

When negotiating a raise, it's helpful to have a record of your achievements. Every time you complete a project or reach one of your professional goals, record it in a small notebook that you keep in your desk or briefcase. Take the notebook with you when you meet with your manager for your annual performance review.

5. Set Goals

A good way to negotiate a raise is to tie your compensation to your performance. Salespeople often receive raises based on how much money they bring in during the fiscal year. If you go this route, be prepared to go without a raise if you do not reach your stated goal.

6. Learn New Skills

Negotiating a raise is much easier when you can show your employer that you are committed to becoming a more valuable employee. Increase your value by taking classes or teaching yourself new skills each year.

7. Talk to Your Boss

It's difficult to get a raise unless you exceed your employer's expectations. If you don't know what those expectations are, it's almost impossible to meet them, let alone exceed them. Talk to your boss about what is expected from you in terms of productivity and leadership. You are more likely to get a raise if you know exactly what your boss wants.

Learning how to negotiate gives you a great advantage in the workplace. Once you have the right skills, negotiating a raise or promotion is fairly easy. Before you ask for a raise, make sure you demonstrate your value to the company and exceed your employer's performance expectations.

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