Negotiating a Pay Increase: Don’t Threaten to Quit!
Don’t threaten to quit! I know you may have seen others do it and survive. Some people win in a car wreck, but I don’t advise it. Bosses don’t forget your lack of loyalty when you threaten to quit. Often what happens is when you can easily be replaced, you are. When layoffs come you may be one of the first to go. When someone approaches the boss to interview for your position your boss may give more weight to them, since he lost his loyalty to you. We all have been friendly toward those we don’t trust. There is an old saying by Sun-Tzu that says “keep your friends close, and your enemies closer.”
What’s the alternative? The alternative is an implied threat. The fact that you are approaching the boss for a sizeable increase and can justify it, will automatically leave your boss with the impression that you may leave. Nothing in your voice or body language should indicate that you are anything but on the same team as your boss. You are merely asking for money that is in line with your contributions. You, hopefully, are not the same person that was hired, say, 2 years ago. We are assuming that you have grown and the company has benefited from that growth during that 2 year period.
A good corollary is this: If you were in sales and were expected to produce $5 million per year and in return for which you were paid $100,000. If instead you produced $12 million, and kept related costs in line, wouldn’t you be expected to earn more than $100,000? Of course you would. And your boss would, in all likelihood, be in agreement that you deserved more.
You shouldn’t approach your boss for a raise without having done your research. I can help with that…
Can you share a story of either you or someone you know that offered to quit if they did not get a raise? How did it turn out? Share below:
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