Salary negotiation is an art, but there are tried-and-true methods for getting what you want. Experts agree that, in addition to studying and refining your argument about why you are the most desired candidate, making a personal, empathetic connection with your negotiator is a solid tactic.
Consider salary negotiations as part of your employer’s honeymoon period. Because the recruiting manager has picked you for the position, he or she is more likely to listen to your concerns and try to accommodate them. “If you don’t ask for what you want, you won’t get it.”
There will come a point when you will wonder, “Should I tell them what my wage range is?” Will they think I’m requesting too much? What if that frightened them away?
These are frequently the most popular questions job candidates ask themselves during pay negotiations, particularly those who are new to the market. If you want to earn what you deserve, you must first understand how to do it correctly.
The following dos of negotiating job offers and increases will help you earn the greatest potential salary:
Before attending an interview, conduct extensive research on pay for positions similar to yours. Be prepared to learn the average beginning salary for your position in your geographical region and for someone with your level of experience. If possible, look into the salary ranges in that organization; check online, read reviews, and ask questions. Be realistic, though. Until you obtain more experience in your area, your negotiating power will be restricted.
Do seek counsel
Don’t be hesitant to seek guidance from more senior or experienced coworkers. Before the interview or pay review, contact someone you trust and ask for guidance on what your wage range should be or how you should go about it. This will provide you with vital guidance on who to approach and how to present your case, as well as some possible precedents for bargaining in your job.
Take into account the full package
Is there anything else the company can provide you? Is it worthwhile to consider them? Salary is only one component of a comprehensive pay package, so don’t get too caught up in the numbers. Inquire about paid training, incentives, vacation days, and other benefits. When everything is said and done, things that make your life simpler, expand your skill set, or save you time convert into more money.
Evaluating your worth
Always discuss what you contribute to the table during interviews or compensation increase discussions. What abilities do you possess, and how will they benefit the organization? You constantly consider the worth of a product or service before spending your hard-earned money on it; the same is true for the job market. It’s a marketplace; a fee-based exchange of services. What is your worth, and how much do you deserve?
If you don’t know what you’re worth, the company may undervalue and underpay you. Be confident in your negotiating once you’ve determined your worth. If you’re negotiating a job offer with a possible employer, talk about what you’ll do to earn the income you’re asking for, citing examples from previous positions. Highlight any successes that contributed to your current company’s bottom line when presenting your case for a raise from your current employer; this will assist reinforce your argument.
Kindly provide a range
When negotiating for a new position, it’s wise to provide a range of what you’re ready to accept in terms of income. This allows us greater wiggle area than simply sticking with one figure. Before you begin, decide how much you are willing to compromise and what you will do if your current or prospective employer does not offer a completely satisfactory salary. Request extra advantages such as more vacation time, a data allowance, one day off every week, or even an early closing once a week. Be adaptable in your negotiations.
What are the DON’Ts?
Don’t look at how much your friends are making
It is very wrong and unprofessional to compare your salary with that of your friends or colleagues when negotiating. Make your case for yourself and only use YOUR accomplishments as justification for your salary request.
Don’t be afraid
Be confident when negotiating, as long as you know what you’re bringing to the table then why not? Don’t be afraid to ask about other benefits the company can provide, as well as future raises and bonuses.
Don’t rush the conversation
A job offer does not have to be accepted, rejected, or countered at the moment. When asked, “What are your pay expectations?” Consider it for a few seconds or perhaps minutes. “Considering the Job description and workload…” is a good way to start your response. This will have a good impact on your offer and leave open for discussion.
Don’t talk about your expenses
When negotiating pay with a future or present employer, don’t recount your life narrative or mention personal costs as reason for your request — this won’t cut it. While these are all acceptable reasons for requiring more money, and may have even motivated you to try to negotiate your wage in the first place, they are all irrelevant to the employer. Concentrate on the things that really matter: your abilities, your successes, your plans and predictions.
Don’t be a dictator
It’s a conversation/negotiation; don’t throw out a number and declare “that’s that.” Money is a touchy issue, but you should never give a firm complete control over your value. When discussing a compensation negotiation, be both educated and empathetic. Once you have all of your facts straight and your value established, you can easily navigate the negotiation process.
It is also critical to be courteous, even if the offer is far lower than what you believe you deserve or are ready to take. During a salary negotiation, do not make threats. Threatening to quit your work will never earn you the increase you seek and is quite unprofessional.