Securing a salary increase is a vital part of career progression in technology. It recognises your worth and ensures you're compensated fairly as you gain experience. If you're further along in your tech career and ready to negotiate, here's a guide to help:
1. Know Your Worth
Thoroughly research industry benchmarks. Check salary surveys, like Nicoll Curtin 2024 Technology Salary Guides, and websites like Glassdoor and Payscale to understand typical pay ranges for your role, experience level, and location. Also consider any unique skills you bring to the table. Have you developed specialised knowledge or taken on significant responsibilities? Factor these into your understanding of your value.
2. Quantify Your Achievements
Gather concrete data to substantiate your request. Document quantifiable results, such as projects delivered on time/under budget, revenue generated, processes streamlined, or client satisfaction metrics improved. Clearly link your accomplishments to positive outcomes for your team and the company as a whole.
3. Timing is Key
Aim to ask for a raise strategically. Ideally this is after a notable success, exceeding performance expectations during reviews, or taking on new projects that demonstrate your increased value. Additionally, be aware of your company's budgeting and salary review cycles to time your request well.
4. Build Your Case
Prepare a concise pitch summarising your contributions, your desired salary range, and the reasons you believe you deserve it. Consider a written proposal, as this reinforces your request and demonstrates professionalism.
5. Be Positive and Professional
Approach the negotiation as a discussion about your future and continued value to the company. Express gratitude for opportunities you've had, while demonstrating confidence in your worth and outlining your ongoing commitment.
6. Frame the Request
Avoid ultimatums that put your job at risk; aim for a mutually beneficial outcome. Emphasise your desire to continue growing within the company and contribute to its success.
7. Negotiation Tactics
Start with a slightly higher salary target than your ultimate goal, leaving room for negotiation. Be flexible and consider exploring alternative benefits if a strict salary increase isn't immediately viable. This could include bonuses, additional PTO, or professional development opportunities.
8. Beyond the Salary
Negotiate for training, conference attendance, or certifications that contribute to your professional development and continued value-add for the company. Outline a plan for continued advancement with your manager, setting clear goals for the next performance cycle.
9. If You Don't Get What You Want
Seek specific feedback on where you can improve to position yourself better for a future raise. Maintain your high performance, demonstrating your value regardless of the immediate outcome, and revisit the conversation at an appropriate later time.
10. Persistence Pays Off
Don't be discouraged if your first attempt doesn't get the full result you want. Continue to excel, document your impact, and revisit the conversation strategically. If your growth and compensation are consistently stifled, exploring new opportunities can pave the way to unlocking your true earning potential.
Remember, advocating for yourself is a critical skill in the technology field. By understanding your market value, showcasing your impact, and approaching negotiations strategically, you can secure the compensation you deserve and position yourself for continued career success.
