Comments on: The Best Way To Get a Salary Increment, A Real Story

By: Anne

Anne — Mon, 30 Jul 2018 23:13:19 +0000

Nice Article. Thank you

By: deepika

deepika — Thu, 12 Apr 2018 05:01:59 +0000

I was expecting an appraisal in my salary. It was my first time, I did not know how to prepare for the review meeting. After reading this blog, I got some essential pointers on how to prepare and negotiate my salary hike. Thanks a lot!

By: James

James — Fri, 27 Jan 2017 07:24:18 +0000

Now this is some great tips for employees like. Salary increase is also a motivation for me to work hard.

By: SB

SB — Sun, 17 Aug 2014 17:09:42 +0000

In reply to Francesca. No not much. I am a lead architect come technical project manager. A dual role that I am playing here.

By: Francesca

Francesca — Sun, 17 Aug 2014 16:22:27 +0000

Hmm іt seems like your pay has really gone up. What is your position at current job?

By: Are Women Saving and Investing Enough?

Are Women Saving and Investing Enough? — Sun, 09 Mar 2014 12:19:13 +0000

[…] plan year after year for 20 or 30 years or more, and his contribution levels may increase as his salary increases. If a woman leaves the workplace for a few years (or more), her retirement nest egg still […]

By: Sean @ One Smart Dollar

Sean @ One Smart Dollar — Mon, 23 Apr 2012 01:26:33 +0000

Great article. Something that a lot of people don;t think about it that if you work hard and you have a good relationship with your manager than you really don’t have much to lose. If you have a good boss they are going to try and help you out. You just need to ask.

By: SB

SB — Fri, 24 Feb 2012 23:46:27 +0000

In reply to balance. Well, you need tame the bull first with your skills

By: balance

balance — Fri, 24 Feb 2012 18:38:28 +0000

Yea, it is like pulling teeth from a bull.

By: Greg Miliates

Greg Miliates — Wed, 12 Oct 2011 16:49:16 +0000

Look at it from the business owner’s perspective. They:
–>want to reduce costs and increase revenue;
–>know that employees are the biggest expense to their company;
–>want to keep productive employees who add value to the company.

So, no matter what the economy is like, when asking for a raise, you need to ALWAYS demonstrate your value to the company, and talk directly about that value.

Like the article said, don’t worry about what others make; likewise, personal reasons for wanting more money are irrelevant. The only thing to focus on is the value you provide to the company.

Maybe you’ve reduced costs, or increased revenue, or lowered employee turnover, or expanded a product line, or expanded sales into new markets. Whatever you’ve done, talk about it specifically. Think like a business owner. Ask yourself: if you were the owner, why should you pay this person (yourself) more?

Now that you’ve laid out the reasons WHY you should be paid more, you can talk about HOW MUCH you think you should be paid.

Some people think that whoever gives out the first negotiating number loses; I disagree. Instead, YOU should be the one to set the salary anchor (the “anchor” is the number around which the negotiation takes place), and make that number significantly more than your currently salary, but justified by your value to the company. Maybe a 40% increase is warranted, so ask for 50% (since it’ll likely be negotiated down). Whatever the number, say it matter-of-factly, and don’t blink. You’ve laid out your case and you know your value. Don’t be emotional. Practice your meeting with a friend or spouse.

Back when I had a corporate job, I did this, and boosted my salary about 25%, when the typical salary increases at the company were 2%-4%.

People are often reluctant to ask for more–especially if it’s a big jump in salary. That reluctance boils down to not valuing yourself; it’s fairly common, creeps into other situations and life choices, and can be extremely limiting. I talk more about it and how to overcome it on my blog (www.StartMyConsultingBusiness.com)

Greg Miliates
http://www.StartMyConsultingBusiness.com