Begin discussing your salary negotiation in advance to avoid feeling pressured.
In 2025, 56% of U.S. workers plan to look for a new job, according to a survey of 1,258 workers conducted in October 2024. The reasons for this include feeling undervalued (37%), burned out (37%), and low pay (40%).
You can negotiate for a higher salary where you currently work even if you don't plan to leave your job in 2025.
In 2025, Alison Fragale, a professor of organization psychology and author of "Likeable Badass," offers three tips for successful salary negotiation.
'What do I want?'
Fragale suggests considering "what do I want" in terms of a salary figure.
To determine a realistic salary target, research salary ranges and averages for your job and industry using resources such as the Bureau of Labor Statistics and websites like Levels.fyi, ZipRecruiter, and Payscale.
You can try to find someone in your company who's willing to discuss internal salary ranges.
Fragale states that those types of data points can help "anchor you in what could be feasible."
'What's a win for the other party'
The key to effectively arguing for a raise lies in demonstrating your accomplishments on the job.
"According to Fragale, the most effective justifications are those that benefit the other party, and people are more likely to agree to something when they perceive it as valuable to them."
To showcase your distinctive achievements, it is essential to quantify your accomplishments. While certain jobs, such as sales, make it easier to do so, even in roles like recruiting, you can assign numerical values to your work. For instance, you can state, "I had 218 conversations with interested applicants to the organization," or "I attended 43 recruiting events," as Fragale suggests.
She recommends having both an electronic and paper file of your accomplishments to keep track of your wins. Update your lists regularly to avoid forgetting any achievements.
'Start this conversation before you're desperate'
Finally, start bringing up your ask with your manager early in 2025.
"Fragale advises starting a conversation about compensation before feeling desperate or bitter, as it may take time to negotiate with someone else on your behalf."
To avoid appearing pushy, Fragale suggests bringing up your raise early in the year and asking, "When should I follow up with you about this again?" This way, you can get a sense of when you can expect an update without feeling like you're leaving the door open.
To earn extra money online, sign up for CNBC's course on passive income streams, which includes tips for getting started and real-life success stories.
Sign up for CNBC Make It's newsletter to receive tips and tricks for success at work, with money and in life.
Make It
You might also like
- Apple CEO Tim Cook reveals he has no plans to retire in the traditional sense, stating that he will always want to work.
- At 18 years old, LeBron James rejected a $10 million offer from Reebok: "I might have shed tears on my way back home."
- Two friends invested $600,000 to launch a business that now generates up to $4.3 million in monthly revenue.
- LinkedIn co-founder billionaire: 3 traits for entrepreneurial success—No. 1 is 'insanely great ambition'
- New research reveals that several high-paying jobs don't require a college degree, with some earning over $100,000.