Negotiating a pay rise is not something many people do on a regular basis. By applying these keys you will be well positioned to improve your negotiation skills and feel more empowered when asking for a pay rise.
1. Know outcome you want. Do you want a win-win outcome where both you and your boss benefit? Or a win-lose outcome where your boss is not happy with result?
It is important you know what type of outcome you want because that will affect long term relationship you have with other party. Win-win outcomes are beneficial where you have an ongoing relationship. For example, when you negotiate a pay rise, you don't want your boss to feel he/she is 'loser'. However, if you are buying a car from a car lot, you may not be so concerned about whether car salesperson feels as though they 'won' in negotiation!
2. Know your 'position'. How important is this job to you? How much do you need it? Could you walk away from job? What alternatives do you have? What is your "bottom line" and what (if anything) are you prepared to concede? You should not start negotiating a pay rise until you have thought through and considered all of consequences for all of different outcomes that may eventuate.
Warning: never say something you are not prepared to carry through. Generally, employers do not respond well to threats, so do not say you will leave job unless you fully intend to….they just may take you up on offer!
3. Work out different scenarios ahead of time. Being caught by surprise will NOT strengthen your request! Think through all different possibilities, which may eventuate and plan for each and every one of them. It is useful to brainstorm and write down on a piece of paper what could possibly happen. For example, if your boss said, "XYZ" - I would respond with, "ABC". This way you can be prepared for just about anything that may happen.
4. Know yourself. Know your own weaknesses. If you are a gentle personality your natural aversion to conflict may toss you into concessions that aren't necessary! If this is you, learn about yourself and take counter action. If you are overly stubborn and never give way to minor points, know this about yourself. Your stubbornness, holding out for 100% your own way, may cause you to lose a really great offer from your boss!