Here's how you can negotiate a salary or raise while assuming more responsibilities as a leader.
As a leader, taking on more responsibilities typically means you should be compensated appropriately. Yet, discussing salary or negotiating a raise can be a daunting task. It's a delicate dance between asserting your value and maintaining a positive relationship with your employer. To navigate this terrain successfully, understanding the nuances of negotiation within the context of leadership development is crucial. You must approach the conversation with confidence, armed with a clear understanding of your worth and the additional value you bring to the table.
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Mike Rubin, MD, PhD, CFAROP (Return on Potential) is my favorite acronym although I’m an MD, PhD, MBA, CFA & a bunch of other acronyms people…
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Jayakumar SundararajA servant leader, hands-on engineer, loves to help people.
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Michael B. CleggTEDx Speaker | Professional Speaker | NSA Member | Humanize 100k Conscious Leaders | HS Football Coach | SHRM
Before initiating any salary negotiation, thorough preparation is essential. Research the market rates for your new role and responsibilities to understand where your compensation should stand. Reflect on your achievements and contributions that justify your request for a raise. Documenting these will provide a solid foundation for your discussion. Remember, knowledge is power in negotiations, so equip yourself with all the necessary information to make a compelling case for your salary increase.
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Mike Rubin, MD, PhD, CFA
ROP (Return on Potential) is my favorite acronym although I’m an MD, PhD, MBA, CFA & a bunch of other acronyms people think matters. 4x’ing ROP @ Harvard, MIT, & Stanford & Founder/CEO of a multibillion dollar VC firm.
The best way to get recognition through promotion or financial compensation, is to enhance the well-being of those around you. It may counter intuitive, but when you make everyone else’s life around you better, you put yourself in the best position to get a promotion or raise. The law of reciprocity is truly the post powerful one of all - be kind and impact others, and they will be eager to give back to you!
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Jayakumar Sundararaj
A servant leader, hands-on engineer, loves to help people.
Leaders, when negotiating a raise or more responsibilities, preparation is key. Know your worth, gather evidence of your achievements, and clearly articulate your value. Approach the conversation with confidence and a strategic mindset. Set the gold standard, and ensure your efforts are recognized and rewarded. Be prepared, be assertive, and secure your future!
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Amant Gupta
🏆 LinkedIn Top Leadership Development Voice | Assistant Manager, L&D at Collabera Digital | Driving Global Technical Training Excellence | Technical Trainer | Full Stack Developer (MEAN/MERN/Java) | GenAI Enthusiast
Taking on additional leadership duties is a great opportunity to discuss a raise or increased compensation. Here's how to approach the situation for a successful negotiation: Before the Talk: - Do Your Research - Quantify Your Achievements - Set a Realistic Goal During the Talk: - Schedule a Meeting - Highlight Your Value - State Your Request - Be Prepared to Negotiate Additional Tips: - Be Confident - Be Professional
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Sonia Dubey Dewan, AICI CIP
Founder & CEO @ ISIM | Leading India's Image Revolution | Global Personal Brand Strategist | India Chair -G100 L&E | WICCI Image Consulting India President | Intl Keynote Speaker | Philanthropist
Negotiate a salary or raise by demonstrating your added responsibilities, showcasing achievements, and researching market rates. Prepare a compelling case, highlight your leadership impact, and express your value to the organization. Approach discussions confidently and with a collaborative mindset.
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Myrto Legaki
Leadership & Corporate Wellbeing Consultant | Global Keynote Speaker | Thinkers360 Top50 Leadership, Top50 Heath & Wellness
Before negotiating a salary raise, take ample time to prepare. Gather all data related to the raise you are requesting. Look at sites that compare market rates for your role, reach out to your network, research job ads for similar job descriptions. Keep track of your research and summarize it in a compelling and clear way. Even if you never get to share this information, it will raise your confidence levels, knowing that you are asking for what you deserve and what the market is ready to pay for.
Choosing the right moment to discuss your salary is as important as the negotiation itself. Aim for a period when the company is performing well and your recent achievements are fresh in the minds of decision-makers. Avoid times of financial strain or organizational upheaval, as these circumstances are less likely to result in a favorable outcome. Remember, timing can significantly influence the receptiveness of your employer to consider your request.
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Matthew McNally, MBA
Talent & Leadership Strategist | Client Partner
Timing is important when considering asking for a raise, but waiting for the perfect moment may never come. If you have an opportunity elsewhere offering better fit and salary, communicate this to your internal decision-makers. Don't sacrifice personal opportunity for the betterment of the company.
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Mary Mugambi
MC/MPA @ Harvard Kennedy School | Edward Mason Fellow| Strategic Management| Operations Leader|Auditing| Risk Management
On my experience, timing is very important as it signals your awareness of the company’s financial health and your sensitivity to wanting a raise only if it is feasible and your hard work is reaping dividends.
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Sabrina Antonela Larrea Pieri .
🧩People & Culture Manager | Gestión del talento | Especialista en motivación, diseño y cultura organizacional🔸️Coach Ontologica Organizacional, Facilitadora y Agile Coach "La comunicación es todo"💫
Claro que el cuando es importante. Porque seguramente este pedido generará una necesidad de oferta del otro lado y para que eso ocurra debe lograrse un acuerdo o al menos entendimiento. Y si generamos esa conversación en el momento inoportuno, no obtendremos el resultado esperado. Así como debemos prepararnos previamente para la conversación debemos incorporar el cuándo en el diseño. Porque no solo es nuestra emoción la que se pone en juego, también lo será cuando comencemos el intercambio, el de nuestro interlocutor
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Myrto Legaki
Leadership & Corporate Wellbeing Consultant | Global Keynote Speaker | Thinkers360 Top50 Leadership, Top50 Heath & Wellness
Not all times are good to ask for a salary raise. Consider your team's timeline, your organization's state and financial position. Evaluate whether to ask for a raise after you have completed an important project where you would have had the time to show your value. Find out when the typical salary raises are decided in your company and align your timeline accordingly. Finally, consider the actual time you schedule with your manager to make the ask. Make sure you both have ample time and that your meeting is not scheduled during a stressful or pressing period. You want to both be as relaxed and open as possible!
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Michael B. Clegg
TEDx Speaker | Professional Speaker | NSA Member | Humanize 100k Conscious Leaders | HS Football Coach | SHRM
I love asking for raises on a Friday morning when everyone is in a great mood. It sounds silly but I’ve advised many and it’s worked for them. Try it and let me know.
When negotiating, clearly articulate the value you bring as a leader. Highlight how your leadership has positively impacted the team and organization, emphasizing specific successes or improvements. Make it clear that your request for increased compensation is not just for the additional work but also for the tangible results you've delivered. Your ability to communicate your worth effectively can make a significant difference in the negotiation outcome.
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Mark Menezes
Founder - Markrich Solutions | Corporate Training Solutions for Finance, Analytics & Leadership Development. | Research Scholar - ICFAI University,Jaipur
Focus on results, and go to the meeting prepared with a handy dashboard that articulates your work. Show comparisons to highlight how your work has benefited the organization. Also, speak about plans for future growth, so that the organization sees value in giving you that raise.
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Myrto Legaki
Leadership & Corporate Wellbeing Consultant | Global Keynote Speaker | Thinkers360 Top50 Leadership, Top50 Heath & Wellness
When negotiating a salary raise, don't just state the projects you worked on, or the tasks you and your team completed. Make sure to focus on the value you created and the impact you and your team made. Concentrate on facts and numbers where applicable, having prepared them before-hand. You may even present them on a slide if you find it helpful. Highlight both your business skills and your people skills. Speak on your ability to inspire your team to deliver results, as well as your technical capabilities. Help your manager see your potential.
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Peter Awad
LEADERSHIP EXPERT | COACH TO CHRISTIAN BUSINESSMEN| WHITE STONE FOUNDER
It's not just about hard numbers! Leadership goes beyond financial metrics. Highlight your ability to build strong teams, foster innovation, or create a positive work culture. Be prepared to address counterarguments by demonstrating the long-term benefits of your leadership style.
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Sheeba Vijayan
Chartered Professional in Human Resources (CPHR), Certified Mental Wellness Coach, Social Entrepreneur
Communicate the value you bring to the company, using specific metrics and data that demonstrates the positive changes you have made. Connect your value to the company's goals. Explain how your contributions align with the company's strategic objectives. Most importantly, outline your vision for future contributions and how they will continue to drive success for the company.
Negotiating a salary or raise requires strategic thinking. Approach the conversation with a win-win mindset, aiming for an outcome that benefits both you and the organization. Consider what concessions you're willing to make and what alternatives, such as additional benefits or flexible working arrangements, might be acceptable if a salary increase isn't feasible. A strategic approach demonstrates your leadership skills and your commitment to the company's success.
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Vikas Bansal
Speaker | Corporate trainer | Productivity Coach | Sales Expert | Content Creator | IIM Indore | NIT Kurukshetra I Josh Talks | Top Leadership Development Voice | Top Motivational Speaking Voice
When negotiating a salary or raise while assuming more leadership responsibilities, be strategic. Start by documenting your contributions and new responsibilities clearly. Research industry standards to understand your market value. Choose the right time for the conversation, ideally after a successful project or positive feedback. Communicate your achievements and the value you bring to the company. Be confident but flexible, open to discussing other benefits if a salary increase isn't feasible. Preparing thoroughly and approaching the negotiation with a win-win mindset increases your chances of a favorable outcome while demonstrating your leadership capabilities.
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Manuel "Manny" Rodriguez, DBA, BCBA, IBA
Proud father of five, Behavior Analyst, and Specialist in Organizational Behavior Management
Asking for a raise requires. Strategic mindset as you are requesting additional compensation for you which should translate as an investment the company is making in you. Be clear on the return on investment, that’s strategic thinking.
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Purvi (Pinky) Gogoi
Carpediem!
In my opinion, we should approach a salary negotiation by doing a thorough market research, understand the standard compensation for the additional work and its role in the industry. We need to document every accomplishment and the additional work or add on responsibilities taken. As a leader, one needs to prepare a compelling and clear case study that highlights all your contributions towards the betterment of the organization. Use metrics and facts to demonstrate your contributions and choose appropriate time to connect to discuss, ideally during the company's performance reviews. Soft skills like communicate clearly, concisely, confidently, and professionally can be applied as this will provide better negotiation and better opportunities
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Matthew McNally, MBA
Talent & Leadership Strategist | Client Partner
Negotiating a salary typically requires strategic thinking because you should not simply accept what the organization feels is appropriate. Sometimes, organizations may expect you to take on multiple roles without an increase in salary, selling it internally as a "growth opportunity." However, there's no such thing as free labor, and they shouldn't expect it. It's important to advocate for fair compensation that reflects the value you bring to the table. Make sure you research what are the industry standards and bring that to the negotiating table.
Maintain professionalism throughout the negotiation process. Keep emotions in check and focus on factual, performance-based arguments for your salary increase. If you encounter resistance, remain calm and ask for feedback or reasons behind the decision. This can provide valuable insights for future discussions and helps preserve a positive working relationship regardless of the outcome.
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Deena Foote
Senior Clinical Review Nurse (RN) Independent Enagic Distributor
Maintain a positive and professional demeanor, even if the response is not what you hoped for. Express your willingness to discuss alternatives or a timeline for future consideration.
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Sabrina Antonela Larrea Pieri .
🧩People & Culture Manager | Gestión del talento | Especialista en motivación, diseño y cultura organizacional🔸️Coach Ontologica Organizacional, Facilitadora y Agile Coach "La comunicación es todo"💫
Es bueno poder destacar nuestro pedido basado en las competencias que tenemos. Esto se puede lograr contando un hecho concreto, que has puesto de ti en ese hecho que lo hace importante y el resultado obtenido. Los datos y la objetividad son claves.
After your initial conversation, it's important to follow up. If an agreement was reached, ensure that the new terms are documented and implemented. If the discussion was inconclusive or if your request was denied, seek clarity on future possibilities for revisiting the negotiation. Setting a time to review your salary again shows persistence and keeps the dialogue open for future opportunities.
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Vikas Bansal
Speaker | Corporate trainer | Productivity Coach | Sales Expert | Content Creator | IIM Indore | NIT Kurukshetra I Josh Talks | Top Leadership Development Voice | Top Motivational Speaking Voice
Negotiating a salary or raise while assuming more responsibilities as a leader requires strategic preparation. Begin by documenting your accomplishments, highlighting how your increased responsibilities contribute to the company’s success. Research industry salary benchmarks to ensure your request is competitive. Schedule a meeting with your manager and present a clear, confident case for your raise, emphasizing your expanded role and its impact. Be prepared to discuss your future contributions and how they align with the company's goals. Maintain a professional demeanor and be open to feedback and negotiation. This approach demonstrates your value and commitment to the organization.
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Myrto Legaki
Leadership & Corporate Wellbeing Consultant | Global Keynote Speaker | Thinkers360 Top50 Leadership, Top50 Heath & Wellness
Keep tabs on the negotiation and check back with your manager. Ask them when you should expect to hear back for a decision. If your request was not granted, ask for specific feedback: "What would you need to see from me specifically in order to accept? What skills, KPIs or behaviors do you think are necessary?" Don't be discouraged by that first set-back. Ask your manager when you can come back to negotiate again. If you keep asking and of course, if you keep delivering optimal performance, eventually there will be a change. If not, perhaps it's also a sign to consider your future in the company, but at least you will have more clarity.
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Michael B. Clegg
TEDx Speaker | Professional Speaker | NSA Member | Humanize 100k Conscious Leaders | HS Football Coach | SHRM
Understand the downside of not having a raise accepted. Does your employer get concerned that you will leave. Is it an option for you to consider? I think it is if you are below market value. How do you know if you’re market value, ask others in the market. Talk to others.
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Sheeba Vijayan
Chartered Professional in Human Resources (CPHR), Certified Mental Wellness Coach, Social Entrepreneur
In this new world of rapid technological advancement, Transparency is the Gold Standard in attracting and retaining the best talents. Leverage on Transparency as a negotiating strategy: - Be open about your research and market standards. - Share your goals and aspirations as a transformational leader - Show willingness to collaborate and find a mutually beneficial solution to boost the company’s Employer Branding. Strategically demonstrate that you're not only a valuable leader but also a forward-thinking professional who cares about the company's future, your own career growth, your team’s career growth and future employees’ aspirations.
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Larisa Halilovic ♀️
International Development Expert - Team Leader. TEDx Speaker twice. Executive Trainer, Coach and Mentor. Leadership Development Specialist. 💡 Leading people can be hard. I help make it easier.
What I suggest to leaders in preparation for their salary negotiations is to cobsider their minimum, maximum and optimum proposals. That way, they have a range for negotiations and are able to manage their expectations on advance. This, in addition with all the prep and evidence of added value, the case for an increase is better placed.
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Shawn Eaton
Training Manager @ World Distribution Services | Leadership Development| Author| Small Business Owner
Understanding your market value is crucial for any career. A good company keeps rates competitive and monitors local competition. When asking for a raise, ensure your request is justified by doing the necessary preparation beforehand. This preparation involves not only assessing your performance but also considering these questions: 1. How much are you asking for? Know your value. 2. Are you contributing enough to justify the request? 3. What will you do or say if they say "no"? 4. Have you practiced your pitch and researched potential questions to answer confidently? Have a clear plan and an exit strategy for the meeting, and keep your expectations realistic. Be confident and be prepared!
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Vikas Bansal
Speaker | Corporate trainer | Productivity Coach | Sales Expert | Content Creator | IIM Indore | NIT Kurukshetra I Josh Talks | Top Leadership Development Voice | Top Motivational Speaking Voice
Negotiating a salary increase when assuming more leadership responsibilities requires preparation and confidence. Start by documenting your new responsibilities and achievements, emphasizing your added value to the company. Research market salaries for similar roles to ensure your request is reasonable. Schedule a formal meeting with your manager, clearly presenting your case with evidence of your contributions and the impact on the team’s success. Highlight your commitment to the company’s goals and your willingness to take on more. Practice your pitch to ensure clarity and professionalism. Finally, be open to feedback and ready to discuss potential compromises or alternatives.
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