The Cost of Not Negotiating
A $5,000 raise at age 25, invested and compounded over a 40-year career, is worth over $500,000 in additional lifetime earnings and retirement savings. Yet 57% of workers have never negotiated salary. If you are one of them, you are almost certainly underpaid.
How to Negotiate
- Research market rates — Check Glassdoor, Levels.fyi, PayScale, and LinkedIn Salary for your role, experience, and location. Know the range before you walk in
- Time it right — After a successful project, during annual review, after taking on new responsibilities, or when you have a competing offer. Never negotiate during company layoffs or financial struggles
- Lead with value, not need — "I have delivered X results and taken on Y responsibilities" not "I need more money because my rent went up." Your personal expenses are irrelevant to your employer
- Give a range, anchor high — If market rate is $85K-$100K, say "Based on my research and contributions, I believe $95K-$105K reflects my value." Anchoring at the top gives room to negotiate down to your target
- Practice the conversation — Rehearse with a friend. The first time you say your number should not be in the actual meeting. Practice until it feels natural
- Get comfortable with silence — After stating your number, stop talking. Let the other person respond. Silence is a powerful negotiation tool
- Negotiate beyond salary — If they cannot increase base pay, ask for: signing bonus, extra PTO, remote work, professional development budget, stock options, flexible hours, or an earlier review date
Sample Script
"I really enjoy working here and I am committed to the team success. Over the past year, I have [specific achievements]. Based on my research of market rates for this role and my contributions, I believe a salary of [$X] would be more in line with my value. I would love to discuss this with you."
If they say no: "I understand budget constraints. Could we revisit this in 3-6 months? In the meantime, what specific goals or achievements would support a raise at that point?" This shows professionalism and sets up a future conversation.