Asking for a raise can be a nerve-wracking experience, but it’s necessary to ensure you’re fairly compensated for your work. With the rise of remote work and virtual communication, email has become an increasingly popular method for salary negotiation.
It is tempting to do every step of the process in a salary negotiation email but don’t do it! For your manager, it is much easier to say no if you ask for the raise in an email. Don’t give this luxury to your boss 😉, be as prepared as possible. In this article, I will show you how you can do it step by step in an easy-to-copy salary negotiation email. Apply the following strategy and enjoy the compensation you deserve! Here are the steps:
Step 1: Do Your Research
Before you start negotiating a salary raise, it’s essential to do your research. Look up the average salary for your job title and industry in your location. You can use websites like Glassdoor or PayScale to understand what others in your field earn. This will give you an idea of what salary range you should be aiming for.
Pro tip: Use ChatGPT to supercharge this research and cross-reference different sources in seconds, like Glassdoor, Payscale, and Indeed. You can copy-paste this prompt and change it according to your role and industry.
ChatGPT is a powerful artificial intelligence language model designed to engage in human-like conversations and provide insightful responses to a wide range of topics. You can access it here: https://chat.openai.com/
ChatGPT Prompt: What is the average salary range for [Product Owner] in the [Software Development industry] in New York state, USA. Define ranges based on seniority level and city. Use Glassdoor, Payscale, and Indeed. Format the results in a tabular format.
(Replace role, industry and location with yours)
Here is the result:
Now you know the range for your role. Another critical factor is the average salary increase percentage you can ask for. The average range depends on the industry and many factors, but a reasonable ballpark estimate is 5–8% percent average. You could achieve a ~15% increase on average if your performance was exceptional that year. Consider that many (bigger) companies have yearly salary increase budgets and strict rules on how much increase they can give for each role and level. Thus it can easily happen that your supervisor would like to provide more increase, but they cannot because of the budget and rules. You have to accept this as he or you won’t be able to change this. I have seen many colleagues leave over the years because the company’s rules did not allow them to give the raise they deserved.
Step 2: Prepare Your Case
Once you know what you should earn, prepare your case for a salary raise. Think about your accomplishments, contributions, and achievements at the company. This will be the basis for your argument for a salary raise. Ensure you have a clear and concise argument to present to your manager.
Step 3: It is about Timing
The best time to ask for a raise is after some great accomplishment, closed deal, successful customer acquisition release, etc., where your contribution can be easily highlighted. This is important because if you time this negotiation poorly, your case will be (almost) guaranteed to be rejected. It is generally the wrong time to ask for a raise when the company faces financial difficulties, many people have been fired, or you have received negative feedback on your performance.
Step 4: Schedule a Meeting
Schedule a meeting with your manager to discuss your salary raise request. This can be done via email. Here’s an example email you can send:
Subject: Request for Salary Review Meeting
Dear [Manager’s Name],
I hope this email finds you well. I would like to request a meeting to discuss my salary. I have made significant contributions to the company, and I would like to discuss the possibility of a salary raise.
Please let me know if there is a time that works for you to meet. I look forward to discussing this with you.
Best regards,
[Your Name]
Step 5: Make Your Case
During the meeting, make your case for a salary raise. Be clear and concise about your accomplishments and contributions to the company. Use data and specific examples to back up your argument. Also, be prepared to answer any questions your manager may have.
Step 6: Negotiate
Once you have made your case, it’s time to negotiate. Be prepared to compromise and listen to your manager’s perspective. If your manager cannot offer you the salary raise you hoped for, consider asking for other benefits, such as more vacation time or a flexible work schedule. At the end of the meeting, there can be basically 2 directions.
In the first scenario, your manager will tell you some or multiple of these excuses:
- Budget constraints
- Performance issues
- Lack of qualifications or experience
- Market saturation for the position
- Company financial struggles
- Company policies do not allow it
- Inability to meet the requested amount
- Recently provided a raise or promotion
- Organizational restructuring or changes in management
- Job duties and responsibilities not aligning with the requested increase
- Personal or emotional reasons such as an employee’s attitude or behavior.
See the secret tip to have the ultimate leverage in this situation.
The second scenario is when your manager tends to give you some increase, but most likely, they will ask for some time to come back to you with a definitive answer. This is a good sign, and in my experience, in this scenario, you will get your desired (or some) increase 😊.
Step 7: Follow Up
After the meeting, follow up with your manager via email to confirm what was discussed and any agreements made. Here’s an example email you can send:
Subject: Follow-up on Salary Review Meeting
Dear [Manager’s Name],
Thank you for taking the time to meet with me to discuss my salary. I appreciate your feedback and insight.
Based on our discussion, I understand that a salary raise may not be possible now. However, I would like to discuss other benefits that may be available, such as more vacation time or a flexible work schedule. I believe these benefits would help me continue to make valuable contributions to the company.
Please let me know if we can discuss these options further. Thank you again for your time and consideration.
Best regards,
[Your Name]
Step 7+1: Secret tip — even if you are not confident enough
This is the most powerful tip, but it can be a double-edged sword!. The best way to assess your worth is to go to the market and get offers for similar positions at other companies. Using this offer letter gives you the ultimate negotiation power with your manager, BUT use it sparingly. Instead, use it to back your case and support your self-confidence. This strategy also can provide your real value. Be prepared to not get (most likely) the same amount as you would get if you change company, but you can get a healthy increase. And you have a Plan B if the negotiation is not bringing the results you were hoping for .
Check this Job-winning ChatGPT Cover Letter generator if you want a competitive edge in your next interview 😉.
