A pay raise may be on the table at your job soon, but that doesn’t mean you should take whatever offer is handed to you first. Instead, Erin Lydon (she/her), president of Poker Power, wants you to play your cards right. Leading a community for women by women, Erin and her team teach others to build confidence, challenge the status quo, learn strategy, and assess risk. (No gambling required.) “At Poker Power, we deliver our programs via a free app where anyone can start learning, as well as through virtual and IRL lessons led by expert women instructors,” she says. “We translate gameplay skills into critical leadership skills needed at all stages of life.”

Deal us in. 🃏💰🎲

How can we negotiate a raise for ourselves this year?
A few tips include:

1. Research. When it comes to negotiating a raise, knowledge is power. So, utilize your resources such as LinkedIn, Glassdoor, and your peers to get a better understanding of the salaries of people in similar positions or in your next role, if you are up for a promotion. The more you know, the more easily you can ask for what you are worth. It takes courage to ask a colleague about their compensation, but being informed will help you be empowered.

2. Develop your strategy. Thinking analytically and logically are key gameplay moves when negotiating a raise. Are you in a creative role? Create a visual that highlights your work. Do you work with numbers? Quantify your success in the role with concrete examples of how you positively impacted the bottom line. Present proof points, without comparisons to others, to support your argument for a raise.

3. Practice, practice, practice. I can teach you the rules of poker in five minutes, but it takes a lifetime to master the strategies. Similarly, no one is born a top negotiator. Practice makes perfect, and in this case… more power. Create a “script” to rehearse with your family and friends and seek their feedback so you speak with confidence, can hit your important talking points, and be conversational while factual.

4. Emanate confidence. Walk into the room like you were already given your raise. A bit of a swagger and a poker face shows your employer that you know your worth. Think WWPPD (what would poker players do?) and act on it. Don’t be rattled by tough questions and remember you can always “check” or pause the conversation, if you need a break from the negotiation. Look strong, sound strong, be strong.

5. Don’t ask for what you want. Ask for more. A rule of thumb is to seek 15% more than what you will be satisfied with and that can include extra PTO, hybrid work, and a bonus triggered by reaching mutually agreed upon KPIs. Make sure you’re confident and comfortable with the number you say because it will show if you’re not.

6. Negotiate. Never take the first offer. Employers are not only trained in negotiating, but often able to pay more than they say they can. Never feel embarrassed or uncomfortable asking for more, it’s a part of the process. Just like a poker table—it pays to raise ‘em.

Ok, but negotiating can be really nerve-racking. What advice would you give to someone going into that convo to help calm them down?
Know your worth. It’s normal to feel uncomfortable or anxious when walking into the room, but remember that you deserve what you are asking for—your hard work, successes, and dedication contribute to the success of the business. A mantra is a great morale booster and something you can repeat to yourself as you head into the negotiation room. I always say, “If you don’t sit, you can’t play. And if you don’t play, you can’t win.”

And what about if our boss says no?
Remember “no” doesn’t mean never, it just means “not right now.” If you don’t receive the raise you deserve, don’t leave the discussion without asking why and for a specific timeline to come back to the table. When you hear “no” your instinct may be to exit quickly, but instead, continue the conversation calmly and keep the end goal in mind.