Salary Negotiation 101: Know what you’re worth (and how to get it) 

For the doubters - It can be done! 

When to ask for a salary increase 

We asked LinkedIn Top Voice and Career Transition Coach Elizabeth Houghton of Sutton Full Potential for her take.  

“It really depends on your personal circumstances,” says Elizabeth. “If your energy bill is 9% higher today, you need to ask for that today!” 

Hot tip: fronting up to your manager a day after their budgets are in isn’t going to cut it. 

Not only will you miss the window for an increase (or at least a review), you’ll risk looking disorganised. 

What’s most important is to do your research.  

The more you know, the more you can plan. And it’s  important to pick your timing wisely.   

“HR and executives will typically start talking about pay rises and bonuses before anyone knows it,” says Elizabeth. 

“So, if your organisation is rigid and structured, it’s best to find out when these decisions typically happen - and get ready for that date!” 

For example, If you usually get an email about rises on 1st July, make a note in your calendar to start conversations around 8-12 weeks out! 

If you’ve just started at a company, and you’re not sure what their usual procedure is… It might not be the right time to take the leap. 

Generally speaking, you should be in a role at least 6 months before broaching the pay discussion. But Elizabeth does note that she has seen some of her clients request a pay rise even earlier when the situation has been appropriate. 

“It’s not in your best interest to threaten,” she says. “But be clear in your intentions.” 

I’ve seen people successfully secure a salary increase after being in a role for just 3 months. But it’s come about because the role hasn’t shaped up to be what they thought it would be.” 

Elizabeth’s hot tip 🔥: Never be afraid to speak out. Having the courage will get you much further! 

How to negotiate your next salary increase (handy guide included) 

You’ve got your timing right, booked in a meeting with the appropriate person and have your salary spiel ready. 

But do you know exactly what you’re asking for and how to get it? 

Below are Elizabeth’s tips. 

• Know your role in the business 

How have you excelled? What are the things you have achieved? (It’s ok to be proud and show off a little!) Think about your time in your role. Look at when you last had a pay rise – what has been the benefit of the organisation to have you there? 

• Have tangible evidence  

How have you improved processes and overall? How have you helped the organisation achieve their mission? Check your internal stakeholder emails. Has anyone put in writing how amazing you are? Elizabeth points out that it’s really important to think and speak in first person – talk in ‘I’ not ‘we’. You did it, you should get the credit! 

• Know what someone else might be able to pay you 

No need to go hunting for a counter offer, but it does help to know what you could be paid elsewhere! Talk to recruiters and others in the industry - benchmark your salary and really get a grid for what they are seeing out there. You can always refer to the 2022 Talenza Salary Guide as a starting point. 

• Set time aside with your leader 

Don’t catch them off guard. Elizabeth suggests setting an agenda and allocating time in a private space. Make it a formal conversation, not casual watercooler chit-chat. Take it seriously, and they will too.  This also a great way to make your intentions clear as she pointed out above! 

• Know your own worth 

Don’t feel icky about the numbers and don’t undervalue or doubt yourself. Because you’re worth it! 

Building the confidence to negotiate 

If your confidence to negotiate is about the same as your confidence to remember your Apple ID password (unlikely), then you’re in luck!  

Elizabeth’s work at Sutton Full Potential makes her a confidence building expert.  In her role as Career Transition Coach, she’s learned that self-doubt and lack of confidence stems from limiting beliefs. 

Identify your barriers and beliefs 

“Go though your limiting beliefs about money,” says Elizabeth. 

“Have a figure in mind and say it out loud. If you have hesitation in your voice – self reflect.  Why are you worried? Where is that hesitation and doubt coming from? Unpack that so that you can own it and move forward.” 

How does this make you successful in your salary negotiations? 

“Think about what you’re trying to achieve - and keep it clear. Why do you want X amount of money, anyway?” she says. 

“There’s always a reason. Maybe If you have an extra $500 a month, you won’t be as stressed about childcare fees! When you go in to back yourself, you’ll remember why you’re there - and you’ll have an emotional connection to your core motivation. Find the reason and you’ll find your confidence.” 

Not sure where to begin in identifying your limiting beliefs? 

Don’t worry. We’ve been there. 

Elizabeth shared some resources to help you build confidence in your negotiations: 

• Reddit – lots of inspo and you can also publish a post and be a part of the conversation 
• Google ‘overcoming limiting beliefs’ - there are a bunch of worksheets and activities to help you 
• Youtube search ‘overcoming limiting beliefs’ - Elizabeth mentioned steering clear of American YouTube videos on this topic. “We have our own culture in Aus about how we talk about money. Be culturally aware of what you’re watching” she says. 
• For more information about building confidence in salary negotiations, you can listen to her Apple podcast 

It’s time to compare 

Are you ready to get your research underway? Download our 2022-23 salary guide and compare your salary.   

Then, get your ducks in a row: know your worth, find out how salary negotiation works at your organisation - and line up a meeting with the right person. 

It could be a very fruitful discussion!