The Money Muse

As someone who’s been at the same company since graduating in 2015, I’ve often felt underpaid compared to the value I bring to the organization. While I genuinely enjoy my work and the flexibility my job offers, I’m not one to stay complacent when it comes to my salary. This year, with the introduction of mandatory performance reviews at my workplace, I saw an opportunity to make a change. After careful preparation, I successfully negotiated a 13% raise, bringing my salary up to $70K. While I’m still not exactly where I should be, I was thrilled to receive this raise – and honestly, I never expected them to go above 10%. Here’s how I did it:

• Build a rapport with your manager. Negotiating a raise is much easier when you have a solid relationship with your manager. If you’ve built trust over time, it’s much less awkward to have these conversations. In my case, my company introduced mandatory one-on-ones between managers and employees. These regular meetings helped my manager and me build rapport and allowed us to have candid conversations about my performance and career goals. If your workplace doesn’t offer structured one-on-ones, try to initiate them yourself. A casual coffee chat can go a long way in strengthening your relationship with your boss.
• Benchmark your salary. Coming prepared is key to a successful salary negotiation. I spent time researching what others in similar roles with comparable experience are earning. Using salary research tools like Glassdoor, Indeed, and Payscale, I gathered data for my role in my specific industry. I found that my salary was on the low end of the spectrum for someone with my experience, which gave me the confidence to ask for a raise. Saying, “I benchmarked my salary” during the conversation helped set the tone and showed I was informed and serious about the discussion. In past negotiations, I hadn’t done enough research, and that lack of preparation showed. This time, I made sure to come with facts and data that backed up my request.
• Gauge your manager’s perception of your performance. Before asking for a raise, it’s important to understand how your manager views your work. Have you received positive feedback or regular recognition for your efforts? What kind of scores have you gotten in performance reviews? If you’re hearing mostly positive things, you’re likely in a good position to ask for a raise. On the flip side, if you’re getting a lot of constructive criticism, it might be wise to work on improving performance before broaching the topic of salary. In my case, my reviews had been positive, and I felt comfortable approaching the subject of a raise after receiving consistent feedback that highlighted my contributions.
• Don’t be afraid to ask for what you’re worth. Once you’ve built a rapport, researched your salary, and gauged your performance, it’s time to take the leap and ask for what you’re worth. Keep the conversation focused on your value to the company, and be confident in your request. If your manager is a good one, they’ll want to help you grow in your role and will be open to a conversation about how your compensation should reflect your contributions. I focused on how my work had positively impacted the team and the company, and how my responsibilities had increased over time. In doing so, I made it clear that the raise was a reflection of my ongoing growth and contribution.
• Be ready for a discussion, not just a yes. It’s important to be prepared for a conversation, not just an immediate “yes.” I knew that the raise I requested might not be granted right away, but by having open discussions about my value, I was able to set realistic expectations. My manager expressed that while they couldn’t offer exactly what I asked for, they were willing to meet me in the middle and exceed my initial expectation. If your manager isn’t able to give you the full raise you’ve requested, consider asking for other perks or opportunities – such as a performance-based bonus, additional time off, or professional development opportunities.

Negotiating a raise is never easy, but it’s an important skill to master in order to achieve fair compensation. I’m proud of how I handled the situation – by building rapport with my manager, doing the necessary salary research, and showcasing my performance, I was able to secure a raise that will make a meaningful difference in my financial future. While I’m not yet where I should be, this experience has given me the confidence to continue advocating for myself, and it’s a reminder that being prepared and proactive can pay off.

By taking these steps and approaching the conversation with the right mindset, you can position yourself to secure the raise you deserve. Whether you’re negotiating a raise now or preparing for the next review, remember that your skills, contributions, and preparation will speak volumes. Don’t be afraid to ask for what you’re worth – and stay confident in your ability to make it happen.