10 ways to prepare for a salary negotiation conversation
Connect to your why; go beyond ‘I deserve it’ to qualify your drivers. Is it high performance? Increased responsibilities? Market drivers? Market value? Salary compression (those with less experience/responsibility being paid more)
Establish the facts; around industry benchmarks and for your experience level. Speak to recruiters, and peers (people will give you ball park figures, and be willing to do the same for your peers to help close the gender pay gap)
Build your case – demonstrate your value specifically and truthfully, and quantify it – how have you really contributed to business success? Have you reduced legal costs? Protected the brand? Negotiated favourable terms?
Consider non-direct pay benefits that are meaningful to you, it might be annual leave or sabbatical entitlement, flexible /reduced hours, remote work options, learning and development budget for a new qualification. Also consider bonuses, share and pension, childcare, car options.
Know your negotiation position – organise your thoughts on paper to establish your position.
Consider it from your boss; and the business’ perspective. Pre-empt questions your boss may have, and be prepared to answer them honestly. Establish what will resonate – stress test it, would you understand and agree to this, if it was you being approached?
Rehearse your conversation with someone trusted to build confidence and clarity
Pick an appropriate time to raise it with your boss and know their communication style preference – are they someone who likes information upfront, or can spin plates. What timing, location and circumstance, gives you the best shot?
Find courage – no one is going to do it for you. The body doesn’t know the difference between excitement and anxiety, so if you find yourself getting butterflies, consciously slow your breath in preparation, and during. Breath in slowly, pause, and exhale to a slower pace until you feel your body relax. Catch any negative thoughts and replace them with empowering ones for example. I can’t do this, to this feels uncomfortable and I am committed to advocating for myself.
Follow up in writing thereafter. Send a thank you note, reiterate the facts you covered in the conversation and your request.