You’re feeling overworked and underpaid. How can you negotiate a raise that reflects your true value? (2024)

Here are three things you should always incorporate:1. Research: benchmark what others with similar titles/duties, years of experience, and who live/work in similar geographies/types of companies are being paid.2. Formulate a coherent case: in addition to the "fairness" approach embodied by benchmarking, you'll want your case to highlight specific, recent achievements where you brought more value than was expected to your team, product, company, etc.3. Ask, and follow-up: if you do not prioritize your own raise request, don't expect that others will do so for you. You need to ring the bell if you want someone to answer the door :-)

Creo que para negociaciones es importantes, primero negociar contigo mismo: ¿sabes cuánto vale tu experiencia? ¿qué es lo que en realidad quieres, al solicitar un aumento? ¿qué es lo no negociable o EL límite de negociación para tí (BATNA/MAAN)? ¿pides lo que quieres o lo que crees que te dará lo que quieres? Muchas veces, ir a una negociación sin tener claro estos puntos es no estar listo para negociar. Cuando te preparas para una conversación, la energía de tu seguridad despertará el interés y la curiosidad de tu contraparte, queriendo ponerse a tu lado para mirar hacia donde tu miras. Cuando el otro puede mirar hacia dónde miras, y percibir el ganar-ganar en la negociación que ofreces, el porcentaje de "venderle" tu "producto" aumenta

Translated

Feeling overworked and undervalued is challenging, but negotiating a raise requires preparation and confidence. Start by researching your market value and highlighting your contributions. Schedule a meeting with your manager to discuss your concerns professionally. Present evidence of your achievements and how they've benefited the company. Be clear about your desired salary increase and justify it based on industry standards and your performance. Remain open to feedback and be willing to negotiate terms that work for both parties. Remember, advocating for yourself is essential to ensure your true value is recognized and compensated fairly.

The timing of negotiating a raise is crucial and should be properly planned. You should consider not only your boss's mood but also the company's schedules and duties. Discuss the possibility of raising your funds or seek advice from HR.

Frame your case for an increase in comp around the value you drive for the business. Your ask is almost never about the fact that you need it or that you are unhappy or feel under-appreciated (even if those things are true), but that it's in the best interests of the business to retain you. Draw a clear line from the work you do to the improvement of a key business metric (revenue is obviously great and the easiest case to make but user growth and/or retention, margin optimization, or operational efficiency are also real and quantifiable things many non-revenue drivers can point to) and show how retaining you as an employee will continue to drive growth looking out to the next 12-18 months.

Build a strong case with evidence. One thing that can be a daunting task but is so helpful is to track on a daily or weekly basis what you accomplish and how it matches up against your job description. Many managers do not have very good systems to observe and track how their team members are doing and they may fall prey to recency or primacy biases. So, it's up to us to track how our work matches up to our job description and, especially, where it goes beyond, where we assume more responsibilities, ventured out on our own initiative, and achieved great results. These are the best opportunities for us to justify greater impact and therefore even a higher raise. It's all about making a true case and being professional about it.

Role play this scenario with someone you absolutely trust and who believes in you. Saying it out loud and practising it will help you to identify where you struggle in your delivery and help you to fix it so that you can go into the meeting strong and confident.

Active listening is essential in all situations. Try to understand your boss's perspectives, principles, and motivations. Consider them right away to effectively communicate your worth to your boss. Remember to maintain a professional and assertive demeanor, even in the face of disagreement or a counteroffer, to increase your chances of a promotion.

When negotiating a raise it is important not to OVER explain and justify why the raise is warranted. Pick a couple of really tangible points as to your justification for the request, and then let it go. Keep reiterating those points. When we over-explain or over justify, we give our power away and we have the opposite effect of what we desire. We water down our reasoning.My second suggestion is to be ok with silence. If there is awkward air time, let it be.