How to negotiate your first six figure salary

If you’re reading this looking for a shortcut, there isn’t one.

The path to a six figure salary requires you to do some work, both on yourself and on your strategy. But I want to share the strategy you can consider, with some concrete examples, because I have seen it work with a lot of my clients and I think you’ll find it valuable.

I’m going to distil this into two parts and then break it down, step by step.

It's essential you show how you can add value to your company in ways that are quantifiable and demonstrate a return on investment. Here are five concrete and measurable contributions you can consider:

a strategic sales plan targeting high-value clients or untapped markets

a referral program to incentivise current clients to bring in new business

a plan to increase sales revenue by x% within 12 months

analyse current workflows and identify bottlenecks or redundancies

propose and implement process improvements or automation tools

other ways to reduce operational costs by x% and increase productivity by x% over the next 6-12 months

launch a customer feedback program to gather actionable insights

introduce initiatives based on feedback to improve customer experience

suggest other ways to increase customer satisfaction scores by x% and reduce customer churn by x% within 12 months

create a comprehensive training program for new hires and ongoing employee development

mentor junior team members to increase their performance and retention

suggest other ways to reduce employee turnover by x% and improve overall team performance by x% within 12 months

lead a project to develop new product features or entirely new products based on market research

collaborate with the product development team to ensure timely and successful launches

suggest two new product features or one new product within the next year, contributing to x% increase in market share

These are very specific ways you can show the value you can bring well above and beyond the six figure salary you’re asking for. But as you can see, there is no shortcut: you have to do the work of thinking strategically, of showing you are actively involved in ensuring the company’s success.

When it comes to discussing your desired salary, framing the conversation in a collaborative and forward-thinking manner is key. 

Here’s how you can approach this:

collect evidence of your past achievements and their impact on the company

create a clear outline of your proposed value-adding contributions with specific goals and timelines

be honest about your enthusiasm for the company and your commitment to its success (if you’re not feeling this, money will not compensate for it)

clearly present the list of ways you can add value, emphasising the quantifiable impact on the company's bottom line

use data and examples to back up your points and demonstrate your strategic thinking.

transition into discussing your salary expectations by highlighting how your contributions justify the compensation

frame it as a mutual benefit: your enhanced role and increased responsibility will drive significant gains for the company

It is possible that the answer may not be the one you want at first. There could be many reasons why a salary increase right away is not possible and you might be tempted to feel dejected and demoralised. 

This is why a genuine interest in the company and the work you want to do for them is crucial.

Because from that position, you can keep the conversation open and collaborative - as would any leader aiming to start on their six figure salary journey.

You might consider asking your boss for feedback and be open to discussing how you can work together to achieve these goals. You might also consider suggesting a timeline for reviewing your progress and adjusting your compensation accordingly.

Again: there is no shortcut. It's not just about asking for more money, but about showing your commitment to be an invaluable asset to the company.