Negotiating your salary can feel intimidating, whether you’re accepting a new job offer or looking for a raise in your current role. However, knowing how to navigate this process confidently can have a huge impact on your career and financial future. Let’s break it down step by step so you can approach salary negotiations with ease and confidence.

1. Know Your Worth

Before you begin any salary discussion, it’s important to have a clear understanding of what your skills, experience, and contributions are worth in the market. Research is your best friend here. Look up salary ranges for your position and industry in your location. Knowing the industry-standard helps you set realistic expectations and gives you the confidence to back up your request. You don’t want to undervalue yourself, but you also don’t want to aim too high and risk losing the opportunity.

2. Be Ready with Data

When you ask for a specific salary, be prepared to explain why you deserve it. This is where your research comes in handy. Highlight your qualifications, experience, and the value you bring to the company. For example, if you’ve consistently exceeded targets, taken on additional responsibilities, or developed a new skill that benefits the team, these are key points to emphasize during your negotiation. Numbers and facts make your case much stronger.

3. Practice Your Pitch

Before entering a salary conversation, practice what you’re going to say. Confidence is crucial here, and practicing can help you avoid fumbling over your words or getting nervous. Rehearse how you’ll present your request.

You might say something like:

“Based on my research and my contributions to the company, I believe a salary of $X would be fair. In the past year, I’ve helped improve our processes by doing Y, and as a result, we’ve seen Z outcomes. I’m excited to continue contributing and believe this adjustment reflects the value I bring to the team.”

Keep your tone positive and collaborative. You’re not demanding, you’re simply asking for a fair reflection of your work.

4. Timing Is Key

Timing matters when it comes to salary negotiations. For current employees, the best time to ask for a raise is typically during performance reviews or after completing a successful project. If you’re seeking a raise out of the blue, try to wait for a time when the company is in a strong financial position, such as after a successful quarter. For job seekers, salary discussions usually come after the job offer is made. Once the employer is committed to you, they’ll be more willing to negotiate.

5. Be Ready for Reactions

Not all negotiations go the way we want them to. Sometimes, you’ll get a yes, and sometimes you’ll face resistance. Don’t be discouraged if the initial response isn’t what you hoped for. Be ready to ask questions and explore alternatives. For example, if the company can’t meet your salary expectations, ask about other benefits like bonuses, flexible working hours, or additional vacation days. Sometimes, these perks can be just as valuable as extra cash.

You can say something like, “I understand the budget is tight right now. Can we discuss other ways to close the gap, such as additional vacation time or a performance-based bonus?”

6. Stay Positive and Professional

Regardless of the outcome, it’s important to maintain a positive and professional attitude. If you get what you ask for, thank the person and express your excitement for what’s ahead. If you don’t, remain polite and open to future opportunities. You never know when the situation might change, and handling the conversation gracefully leaves the door open for future discussions.

Negotiating your salary doesn’t have to be stressful. With the right preparation, timing, and attitude, you can confidently ask for what you’re worth and take an important step in advancing your career.