It's important to negotiate your salary. According to salary.com, only 37% of people negotiate their salaries. Most do not do so because of fear.
Here are some tips to help you with the negotiation process.
How much is your position in your industry and geographic area worth? Check out payscale or Glassdoor for more information.
When negotiating, don't pick a range. Make sure the number you choose is based on your research about the position. Specify the top of the range because the employer would always select the lower number. They will try to negotiate down, so you need enough room to get the salary you want.
Instead of saying you want $50,000, say $55,670. When you are specific about the number, the employer will think you've done your research.
If you are not happy, be willing to say "no."
Make sure you have been at a job for enough time and met expectations before you start negotiating your salary.
Don't negotiate when performance reviews start. Start talking to your boss 3-4 months in advance.
Be ready with a list of accomplishments to support why you should get a higher salary. Specify how these accomplishments have improved the business' bottom line. Print out the summary to your boss. Keep it concise.
Thursday is usually the best day to negotiate. Studies show that we become more flexible and accomodating as the week wears on.
Practice the negotiation beforehand. Use a mirror or video and get advice from friends or family.
Coffee makes you resistant to persuasion. It makes you less likely to fold when the other party tries to convince you to take their offer.
Always be confident and stay positive. Remember, a successful negotiation must be a win-win. Both parties should be happy about it afterward.
Ask diagnostic questions to understand the other party's wants, needs, desires, fears, and priorities. What are their most significant priorities right now?
Think about what your opponent is thinking. What do they want to get out of this negotiation, and why?
When negotiating, don't only think about yourself. Think about your family that will benefit from your salary increase. This will motivate you to stand your ground.
Always stay positive. Say something like, "I enjoy working here and find the projects challenging. I've been feeling like the amount of work has increased a bit. I believe that my responsibilities have expanded. Can we discuss compensation?"
Be the first person to mention the salary number. Let your counterpart counter offer.
Worst case scenario your opponent will counteroffer.
The other party will always focus on the smallest number.
When given a number, say something like, "I appreciate the offer, and I'm excited about working here. I was expecting something like $89,500. Can we focus on that number?"
Focus on your accomplishments. That makes for a better sell.
Ask them, "What would you suggest?" Get them to advocate on your behalf.
When talking to recruiters and hiring managers, it might make sense to use email when negotiating salary. Keep it pleasant and open and make sure your conversations mimic real-life conversations.
Make sure you understand the other party's needs and incorporate them into a solution. Negotiations should be a win-win.
Negotiation is a conversation whose goal is to reach an agreement with someone else with opinions not aligned with yours. Don't be afraid of no - Negotiations don't start until someone says no. No is part of the process.
When the other person gives you a number, stalling might make them give you a better number.
If the other person hesitates, asking questions helps keep the conversation moving and shows them that you're willing to work together. Say something like, "Seems like you were taken by surprise. Can you tell me more?" "What is the budget for this position?" "How can I help you move in my direction?"
Don't be afraid to counter when the other party gives you a number. Say something like, "I understand where you're coming from. I am very excited about this position and about working on this team. I think my skills fit the position and are worth $87,890."
Don't threaten to leave the company. Keep the conversation positive.
If you can't get what you want, try to negotiate for other things like flex time, more vacation, and a better title.
Always keep negotiating. Don't give up!
If you need help with the negotiation process, you can book a video call with a mentor on mentordial.com. We can walk you through best practices and give you the feedback and insights needed to succeed. Don't give up!
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