As engineers, our role often evolves quickly. We take on new technical challenges, lead complex projects, or mentor others while delivering results under pressure. So, how do you ensure your compensation keeps pace with your growing contributions?
Entrepreneur and “Shark Tank” investor Barbara Corcoran recently shared a simple yet powerful method for asking for a raise, which is particularly beneficial for engineering professionals who want to advocate for their worth.
Here’s how to prepare and deliver your raise request clearly and confidently.
Corcoran suggests starting with two lists:
List 1: Your original job responsibilities.
List 2: Your current job responsibilities.
This side-by-side comparison illustrates the evolution of your role. For engineers, this might include expanded scopes, managing clients, working in subcommittees and task forces, implementing new systems, or optimizing performance on key deliverables. Presenting these lists to your manager provides a clear, visual case for why your compensation should reflect your real-time contributions.
Be Clear and Specific About the Raise You Want:
Don’t say, “I’d like a raise.”
Say, “I’d like a 10% raise.”
According to Corcoran, being specific sets a confident tone and anchors the negotiation. For engineers, who often bring data-driven thinking to the table, this direct approach aligns well with technical leadership’s decision-making style.
Schedule a Dedicated Meeting:
Don’t bring this up in passing. Schedule a formal one-on-one meeting and share the topic in advance so your manager can come prepared.
Engineers respect process, and leadership does too. A planned, professional discussion allows both sides to explore the raise without distractions.
Lead with Positivity and Confidence:
Corcoran stresses the power of confidence and optimism. Emphasize your excitement for the work, your track record, and your vision for continued growth within the company.
For engineers, this can also include metrics or milestones that demonstrate how your work drives results. When you connect performance to outcomes, your case for increased compensation becomes even stronger.
Final Thoughts:
Whether early in your engineering career or decades in, asking for a raise doesn’t have to be stressful. Use logic, clarity, and confidence, just like you would in any project. And as Barbara Corcoran reminds us, the best time to ask might be right now.
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