How to Negotiate a $10,000+ Raise

You could be making $10,000+ more while working the same job you’re working right now. In this video, I'll show you exactly what to say and do to get a big raise.

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Ramit Sethi is the host of Netflix’s “How To Get Rich” and New York Times bestselling author of “I Will Teach You To Be Rich”

[abramsrob]

Waiting at a job for a raise that might happen is a gamble, but leaving your job for a higher paying one is a sure thing.

[gabsfairchild]

This worked for my sister in law and her coworkers. They had all chatted about this together and separately brought up cases (did a market comparison for their respective positions that showed they were underpaid) to their leaders, and they all got compensation adjustments. Their company cared about talent and were able to adjust the budget.

I tried this at my company and did not receive an adjustment. In addition to the market comparison, I had also set, met, and exceeded the goals with my boss. So, I looked for another position and got a pay increase elsewhere.

This briefcase approach is perfect even if you don't get the raise at that company. Why? Because you’ve learned how to effectively communicate your desires and show your work ethic. It won't always work for a pay increase AT THAT company. Ramit knows that.

You are building the muscle of how to be a valuable employee and you give your employer a chance to treat you right. And if they don't, you're out of there because you've now established your value and know what you're worth.

[ramitsethi]

Notice how many comments here begin with "This won't work for me because ____" Maybe it will, maybe it won't. But if you approach any strategy with all the reasons it won't work, you can be sure it won't. Anyone who gets a substantial raise starts with this phrase: "If it worked for others, maybe it can work for me."

[Leife]

Work for a larger company. I have never really asked for a raise or promotion, but I still got them way faster than others. It really comes down to how well you sell the value you provide to where you are hard to replace.

[debbielockhart]

The best is to get a job offer elsewhere. I got a $20k+ raise this year by being offered a kick ass job elsewhere. He really didn't want to lose me. And I do like my workplace, but I was willing to leave for this other opportunity. Now I get to stay and I've improved my finances tremendously.

[Within_Cells_Interlinked]

My company has a long annual review process that’s actually pretty similar to these steps. I got a promotion and $15k raise last year and getting a 10% raise this year. It definitely helps to have bosses and leadership actually value the work of their employees and willing to invest in a system that makes it easier to have these kinds of conversations. Plus my state has salary transparency laws, so at least I know where I stand with my compensation in general.

[bluexroses]

I did something similar. Didn't have a meeting to discuss it beforehand, but at a regular check-in with my boss I brought evidence of my work over the past 6 months and how I was working at a higher level than what I was hired to do, as well as market research. Ended up with a title change and a 15% raise without changing a single thing I was doing.

[renza]

I tried this one time before I knew the name. I could not get a raise but I got 2 free trainings worth off €2000, - and the lessons always stuck with me still helping me out.

[laurelpang]

I negotiated for my desired salary and extened vacation time when I was selected for a job. Management approved both. Some of the old timers were pissed that I had more time off then they did. Anyway, retired early and I am living my best life. Automated deductions from paycheck to 401k. That's what I did so I could live my best life.

[boomergames]

I've done this sort of thing twice, and both times got significant increases and promotions equal or better than job hopping to another employer. Some of the stated goals included specific training, specific results, specific certifications.

[lenaweber]

Last year I tried to negotiate my salary with some techniques you mentioned. Since our company has to cut costs and save money, it unfortunately wasn't possible to get a pay rise. However, I got 4 days more vacation. Not so bad, I would say.

[emp]

Sometimes it works, sometimes it doesn't. The most reliable way to get a raise is to shop around and change companies if you get an offer that meets or exceeds your expectations. You can be the top performer and lay out all the reasons why your compensation should be increased and they can still say no. Happens all the time.

[stinsonboyz]

Simply put; perform well and exude confidence

[n]

I attempted this last year. All year tracking my numbers. Every quarter going over my numbers, being a lead in a few projects. But come this year review, they said it wasn’t in the budget this year with all the recent cuts and freezes there’s been in the company. I had the smallest increase I’ve had in the last 4 years in this department. I’m still working with her for the 2025 review but maybe need to look elsewhere for a new role or new company.

[laurab]

In sales you can’t complain you are being underpaid oftentimes because you write your own check even if you get a base pay. They will you use your uncapped commission rate as an excuse to not increase your wages. I’m going to try your techniques (most of them) in my sales career. I will let you know if I get a raise this year

[linpo]

This is great if you work for a private company. But if you work for the state (me) or fed gov, there are tiers and you get a raise based on getting to the next tier. If there's no opening, you have to wait and keep applying when a higher tier job opens up.

[iheartsnape]

I can't find the other video anymore.... but i followed your advice on negotiating a lower auto insurance premium, and it worked! I ended up having to adjust my coverage but then some magic happened behind the scene and my new premium is almost ~$300 lower than my initial statement!

[FalknerBlitz]

In the last 15 years, I have received 2 what i would call substantial pay increases (over 8-10%). One was directly asking for a raise during the mid-year review with supporting documents and market research in hand. The second, which was a bigger raise in comparison, was to change jobs.

Can a raise be negotiated, yes. In this market, is getting a raise from changing jobs the more reliable route, probably. In my experience, STEM fields.

[me]

My union just helped us get a raise of a little over 10k per year about a week ago. Yeah, it's great to negotiate on your own, but if you can, join a union, too.

[dnjinrok]

How to get $10000 raise in two week: Move to another company. Loyalty is dead