Negotiating a pay increase can be a nerve-wracking endeavor. And yet it is an essential skill to master if you want to be fairly compensated for your effort and results.

You can increase your chances of getting the pay increase you deserve by following these steps:

1. Research and Preparation: Determine the competitive total compensation range for the job you are performing. Consider the industry of your employer as well as the location where the work is performed and the size of the company.

2. Timing is Key: Choose a time when the company is doing well. and make sure you have received positive feedback on your performance. Don’t choose a time when your manager is stressed and overwhelmed.

3. Showcase Your Value: Communicate the value you deliver to the organization that is aligned to its strategic goals and success. Quantify your accomplishments as much as possible and remind your manager of the unique skills and capabilities you have used to deliver results.

4. Demonstrate Professionalism and Confidence: Don’t communicate in a way that can be interpreted as being entitled or overly aggressive. Instead focus on projecting confidence and demonstrating respect. Actively listen to your manager and be open to constructive feedback.

5. Expect to Have Multiple Conversations: It usually takes 2 to 3 conversations with your manager before you receive the pay increase you deserve. So don’t expect a fast turnaround and answer to your request. Your manager will have to talk to their manager. Then HR will have to be consulted.

And if you want someone to help you plan these conversations who has insider knowledge, let’s talk today. I am always interested in helping high performers with this process.

You can ask for an internal equity adjustment, a market adjustment, a promotion, an out-of-cycle increase, or even a larger merit increase. What you label your “ask” makes a difference.

Negotiating is a skill you can get better at. It just takes practice…and maybe a bit of help from a Pay Negotiation Coach.

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