Preparing to Negotiate a Raise or Promotion

Posted on November 12, 2024 by Sharee Wells, One of Thousands of Career Coaches on Noomii.

Did you get what you wanted at your last salary review? If not, maybe you didn’t have control over the conditions – the budget, the hierarchy, or another factor. For the things you do control, here are some ideas for improving the experience next time. If you haven’t yet had that review, don’t wait to start preparing yourself for the negotiation – what do you want, what do you need, what do you have to offer in exchange and why is it valuable to the other party… ?

To begin a thorough self-assessment, we’ll walk through the steps of evaluating your skills and contributions. That will boost the confidence and insight needed to negotiate your raise or promotion this year.

Self-Assessment:

Before engaging in negotiations, taking the time for a thoughtful self-assessment is essential. This process goes beyond merely listing your accomplishments. It’s also about gaining a deeper understanding of your value to the organization and how you AND your supervisors view your strengths, skills, and contributions to the team.

1. Achievements: Begin by reflecting on your professional journey. List the projects you’ve successfully completed, milestones achieved, and challenges overcome. What specific contributions have you made to your team and the organization? You might want to keep a journal that briefly states: What you did (achievement); How you did it (primary skills used); and the measured result (quantified or qualified evidence of value to the employer)… You can use the journal entries for several purposes including, a confidence booster when you feel “less than”, fodder to update your resume, regular progress reports to your boss, and of course, supporting your requests for a raise or promotion.

2. Skills and Strengths: Assess your skill set and strengths. What unique skills do you apply that contribute to the success of your team or projects? Identify areas where you excel and consider how these skills align with your current role and future goals. When you have a next level target you can develop your way to it by focusing on 6-8 skills most important to that role: sort of like your “product features”. Every product has certain features, but we don’t list those which are common to all in our advertising. We list the top standout items that differentiate ours from competitor products. Focus on those – getting them, strengthening them, polishing them till they shine…

3. Feedback: Reach out to colleagues, supervisors, or mentors for feedback. Understand how your contributions are perceived by others in the workplace. Constructive feedback provides valuable insights and may highlight aspects of your performance that you may not have considered. First, remember that everyone has an opinion so your feedback may be that some liked your performance or results and others didn’t. Second, be open to change. There is no growth without change. Third, ask for opportunities to build strengths and improvements.

4. Set Career Goals: Consider your long-term career goals. How does your current role align with those aspirations? What skills, experiences, training, or certifications / licenses do you need to reach your desired career destination?

The Art of Measuring Your Contributions:

Once you’ve conducted a thorough self-assessment, the next step is to quantify your contributions. This involves translating your achievements into measurable metrics that showcase your impact on the organization.

1. Measurable Achievements: Identify specific achievements that had a tangible impact on the organization. Whether it’s meeting project deadlines, exceeding sales targets, or improving processes, quantify these achievements with numbers or percentages, ranks or ratios. If your achievements cannot be quantified, qualify them by offering evidence that others besides yourself found them valuable or of merit – testimonials, awards, commendations, promotions on the basis of them, and so forth. Stop using words like successfully, and expertly, etc., unless you have evidence that they were said by someone else. Without the evidence of others, your personal estimate of success, is just that – your rosy view of yourself, your own good opinion of yourself. It’s great to have self-confidence. It’s “extra” to show you’re not the only one who believes it.

2. Contributions Aligned with Organizational Goals: Demonstrate how your contributions align with the goals of the organization. Illustrate how your efforts have directly contributed to the success of the team, department, or company as a whole. Did your increase of customers contribute to the team’s goal to capture X% market share? Does your recycle initiative further the department’s admin cost savings objective? What about completing your project for that difficult client on time and under budget; will his testimonial support the company mission to delight customers?

3. Leadership and Initiative: Highlight instances where you’ve taken on leadership roles or demonstrated initiative. Whether it’s leading a measurably successful project, mentoring colleagues or those you supervise at work, championing social impact projects, or implementing innovative solutions, emphasize your ability to help others achieve.

4. Team Dynamics: Assess your impact on how your team relates to each other, clients, and the rest of the organization. Have you fostered a positive work environment, contributed to team collaboration, or played a pivotal role in resolving conflicts? If you were part of a problem, did you make a change that led you to being part of the solution? Your interpersonal skills are valuable and contribute to the overall success of the team. They are often things that need to be measured by qualifying them, using evidence that other people say about you and your performance.

Preparing for the Negotiation Conversation

Armed with a clear understanding of your skills and contributions, you’re now ready to prepare for the negotiation conversation.

1. Conduct research on industry standards for your role and level of experience in your location. This provides a benchmark for your salary expectations and adds an additional layer of credibility to your negotiation.

2. Develop a compelling case for your raise or promotion. Clearly articulate your achievements, skills, and contributions, linking them directly to the goals and success of the organization.

3. Practicing Effective Communication: Practice effective communication for the negotiation conversation. To be confident, articulate, and focused on the value you bring, practice the actual words you want to say out loud. Speak them several times a day until you do not need notes to cover your points. Do not memorize, but rather, know your subject. Practice speaking about specific examples from your self-assessment to illustrate your points. Make time to speak the words out loud and often – again, not to memorize them, but to know them as well as you know your own name.

4. Anticipating Responses: Anticipate potential responses and objections. Be prepared to address concerns or questions that may arise during the negotiation. Practice out loud. Speak what you want to say. Your proactive approach demonstrates thorough preparation and confidence. You only sound rehearsed if you just memorize what to say rather than know it. Practice with other people, when possible, to be familiar with speaking and listening in a two (or more)-way conversation.

Negotiating a raise or promotion makes an impact on your career journey. Taking time for self-assessment gives you a deep understanding of your skills and contributions. That self-awareness not only builds your confidence and positions you for a successful negotiation but also contributes to your overall professional development over time. It’s a great habit to have.

Remember, the key to a successful negotiation is clarity, confidence, and demonstrating your value to the organization. As you start this process, know that your skills and contributions are the foundations of your professional growth. Take the opportunity to advocate for yourself. May your negotiation be rewarding in quantifiable and qualifiable ways!

Follow me on Noomii and on LinkedIn to stay tuned in on all things that result in YOU being your own best career advocate!