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personal finance

How to negotiate a raise

Get paid what you’re worth without burning bridges

Over the last ten years, I’ve hired hundreds of people and the vast majority of people don’t know how to position or negotiate their salary. This puts them at a significant disadvantage.

Getting a fair market salary is a key step to freedom for both financial independence and entrepreneurship. Key steps:

  • Negotiate from a position of strength (if you can)
  • Use positional negotiation. This means you negotiate the position, not the specific number.
  • Negotiate not just the salary but all other aspects of the offer.
  • Don’t discuss your past salary. It puts you at a disadvantage for getting to a fair outcome and it may be illegal for the employer to ask. 17 states explicitly ban this.
  • Get to a Win-Win. Negotiation of salary is about finding a fair market value. Look for opportunities to increase your value to the organization, not just your salary.

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