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Insights: How and When to Renegotiate Your Salary

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Question

Submitted by: WISE Los Angeles member | 6-15 years professional experience

When is the appropriate time to renegotiate salary? Should you wait until a review or can you bring the issue up at anytime?

Answer

First, do your research. Are you sure you are being underpaid compared to peers or others?  Also consider what your total compensation package is and what is important to you. Some companies might have a lower salary, but are very generous in terms of other benefits such as vacation, contributions to 401K, study assistance, etc., which in total compensation terms can sometimes mean a richer package.  

Once you are clear about your total package, the best time to discuss your salary is typically around review time. It’s timely but that does not preclude you from bringing it up at other times. Be clear though in your mind why you deserve a raise. From the company’s perspective, simply working hard or long hours does not qualify you for a raise. Operating at a higher level or taking on more visible projects contributes toward a more successful request for a raise.

Jane Hollman

About Jane Hollman

Jane Hollman has more than 25 years experience in senior human resources roles at large multinationals and sports across Asia Pacific and the United States. Currently a career coach, she helps business leaders and university students think through their career paths. Hollman is passionate about creating flexible, innovative work places and mentors women looking to start their own businesses. She is also a freelance writer covering the business of sports for publications such as Women Talking Sports.

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