December 05, 2013, 11:55 AM — You got a promotion. Hooray! And a raise. Huzzah! But you got lowballed on your new salary. )&@^!
Do you accept it, just happy to have a job, a new title and money to pay the bills? Or do you fight for a figure that better reflects your market value and experience?
Negotiation expert Lisa Gates has a game plan for you:
1. Know your market value.
2. Go back to your manager - nicely - and thank him or her for the promotion.
3. State you hadn't done your due diligence in accepting the raise, you now have, and find you’re X% below where you should be.
4. Ask to brainstorm ways to bring your salary up to market value.
5. Come armed with a list of your accomplishments and goals for the coming year.
Professionals often hesitate to negotiate for a higher salary because they don't want to be perceived as greedy or upset their manager, but Gates says there is one important factor to consider: You are in a position of power.
"We hesitant negotiators often so loathe asking for something for ourselves that we fail to see that getting our market value is an exercise of power as possibility," she says. "Seize the power you have, and allow it to be translated to monetary value. This demonstrates the respect you have for yourself and your work and the influence and power you have in your organization."
Click below to see all of Gates' tips merged into a concise, nonconfrontational statement to make to a manager.