Negotiating raise - experiences, techniques and more

Hacking employment, improving work, professional development
Campitor
Posts: 538
Joined: Thu Aug 20, 2015 11:49 am

Re: Negotiating raise - experiences, techniques and more

Post by Campitor » Sat Nov 10, 2018 4:51 pm

This has been my recipe for getting pay increases which has worked well for my 25+ years in the workforce:
  1. Work hard on impactful things.
  2. Volunteer for projects often.
  3. Learn as many new skills as possible.
  4. Consistently deliver and learn from your mistakes (fail forward).
  5. Don't be afraid to apply for other jobs even within the company if you've dried out opportunities in the existing job.
  6. It's okay to do a lateral move if the new job has better growth/learning opportunities.
  7. Extroverts are in the majority in most companies so learn to fit in with them (this doesn't mean kissing ass). There is a real financial cost to being an introvert in most businesses.
When you're good at what you do and work hard (rare combination sadly), the pay increases negotiate themselves especially if you let it be known that you aren't a complainer and that your prefered method of stating your opinion is by voting with your feet.

Seppia
Posts: 647
Joined: Tue Aug 30, 2016 9:34 am
Location: Italy

Re: Negotiating raise - experiences, techniques and more

Post by Seppia » Sat Nov 10, 2018 4:54 pm

Yup, it rarely gets mentioned but as 2b1s says, step one is to be better than your peers at what you do.
If you suck and threaten to leave, the bosses will pop the good bottle right after accepting your resignation with a very fake sad face.

Be good at what you do in a measurable way, be likeable, be reliable and then magically you have leverage (some).

With big corporations, the way to grow salary is just to leave. I believe it's a bad strategy, but today companies tend to pay more for people coming from outside, and that's the reality of the game.

liberty
Posts: 86
Joined: Mon Nov 21, 2016 2:01 pm
Location: Oslo (Norway)

Re: Negotiating raise - experiences, techniques and more

Post by liberty » Sat Nov 10, 2018 6:23 pm

@2Birds1Stone They would hate to lose me - I know that from earlier negotiation where I have got quite high raises, especially when I said I don't depend much on work income anymore.

@Campitor I'm an introvert, and I hate how the extroverts always get the top positions and introverts are ignored. One of many reasons I would love to leave Corporate...

SustainableHappiness
Posts: 203
Joined: Tue Jun 28, 2016 6:39 pm

Re: Negotiating raise - experiences, techniques and more

Post by SustainableHappiness » Sun Nov 11, 2018 3:13 pm

The most powerful lever in a negotiation is improving your BATNA. Best Alternative To a Negotiated Agreement. I.e. always have an out.

For negotiating a raise, this means improving your marketability for more $ elsewhere as already stated. If you are always thinking in terms of having a strong BATNA, no matter what the outcome you're safe. This has a secondary effect of bolstering your mental strength in bargaining mode.

The shittiest negotiations are where your wants (ego) and impatience imply there is no BATNA...that's where you give away your shirt. Often this is associated with perceived lifestyle implications or grass in greener mentality. No advice on that, besides try to avoid it.

The danger of relying to heavily on BATNA is abusing the ultimatum. I've seen people give ultimatums and retract them after their bluff is called, it is brutal. If you give an ultimatum make sure it's genuine. I.e. that you will walk.

Third parties (outside of negotiation) can also help call bullshit on your BATNA if they think you are full of it, or it doesn't sound feasible.

Campitor
Posts: 538
Joined: Thu Aug 20, 2015 11:49 am

Re: Negotiating raise - experiences, techniques and more

Post by Campitor » Sun Nov 11, 2018 5:17 pm

@SustainableHappiness

You've hit the nail on the head. Very good advice.

SavingWithBabies
Posts: 385
Joined: Mon Aug 31, 2015 2:50 pm
Location: Midwest, USA

Re: Negotiating raise - experiences, techniques and more

Post by SavingWithBabies » Sun Nov 11, 2018 9:15 pm

I have only received substantial raises by switching employers*.

* After about a decade, it is starting to appear that I've hit a salary ceiling so perhaps this strategy only works so long (I'm still exploring if this is true or not).

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