Negotiating a salary, especially for the first time in a young professional's career, is tough. However, it's necessary to have that discussion to ensure you are being properly compensated for the work you do. If you don't have a formal salary review process in your organization, it's safe to request a chat about your performance and compensation after your first year. Schedule the meeting with your boss then prepare the steps below:
Find market value
You need to find out to the best of your ability what your worth is in the market. There are tons of places online to do this: payscale.com and salary.com are examples. However, take these sources with a grain of salt, they're generally on the higher side, as there is value in driving the market up. You should look at as many sources as possible to find an average of your market worth.
Show your worth
Spend some time reviewing what you have accomplished since you last had your salary reviewed. For your own reference, make a list and choose three or four major things you think are the most impressive and have added the most value to the organization.
Have a range in mind, from best-case to worst-case scenario. A good performer could expect to see a 3ÔÇô5 per cent raise, if the organization isn't struggling.
The discussion
Once you finally sit down with your boss, start off by asking for feedback'what you do well and what you could improve on. From there you can mention some of the projects that you've worked on in the past year that you really enjoyed. (You already mentioned the impressive ones.) Don't be afraid to toot your own horn; just be sure to do so in a professional manner.
From here, it's time to get to the negotiation. If you can, keep the power in your hands by asking your boss what amount they would consider giving you as a raise. By allowing them to throw the first number out there, you don't risk shooting yourself in the foot by throwing out a lower number. If the number is what you'd hoped for (or higher), graciously thank your boss and close by telling them how excited your are to continue taking on more challenges and continuing to grow in your role.
If it's not what you're looking for, tell your boss that based on your research, your role is worth X and you hoped to be closer to that number. Explain that based on your accomplishments'be sure to name 1 or 2'this year you hoped to see a larger increase. If you can't arrive at an agreeable number, don't push your boss too much. Ask if your boss would be willing to get together to reevaluate your compensation in six months and set a date.
Ultimately, if you don't receive a raise or the amount you were hoping for, don't take it personally. There could be many reasons that have nothing to do with you or your work. In six months, you still don't receive what you are worth, you need to reevaluate your current job. Are you still learning? Do you feel growth? If the answer is yes and you can financially afford to stay, you probably should. If the answer is no or you can't afford to wait it out, it's time to start the job hunt.
It's important to be comfortable with this process as you will have to do it many times throughout your professional career. (Ensuring you are being compensated for what you are worth is why we work, after all!)