Salary negotiation is a skill that doesn’t always come naturally to many job seekers. After all, who wants to ask for more money? However, if you’re not comfortable in salary negotiations, you could be leaving a lot of money on the table.
To get the salary you deserve, it’s important to learn how to negotiate salary like a pro. With these tips in mind, you’ll be able to confidently approach any salary negotiation and come out with the best possible outcome.
Why should you learn How To Negotiate Your Salary?
There are several reasons why you should learn how to negotiate your salary. First and foremost, it’s important to remember that your employer will not offer you more money unless you ask for it. If you’re uncomfortable asking for more money, you’re likely leaving a lot of money on the table.
In addition, learning how to negotiate your salary can also help you understand your worth in the marketplace. By understanding what you’re worth, you can be sure you’re being paid fairly for your skills and experience.
Finally, negotiating your new salary shows that you’re confident, you value yourself and you possess good negotiation skills.
How To Negotiate Your Salary
If you have rare talents and an excellent resume to back them up, you’d be foolish not to negotiate your salary when given the opportunity. Most hiring managers understand this and will give you time to consider their offer before expecting a response. So take advantage of the situation!
Here are eight tips on how best to negotiate salaries for a new job so that you can ask for what you want in a respectful and assertive way.
1. Start by evaluating what you have to offer
When negotiating salary, it’s essential to start by evaluating what you offer. What are your unique skills and talents? What are your strengths? What can you bring to the table that other candidates can’t? By assessing your worth, you’ll be in a much better position to negotiate a higher salary.
Evaluate yourself objectively and be honest about your skills and experience. This will help you determine what you’re worth in the marketplace and give you a better idea of what to ask for when negotiating your salary.
2. Evaluate the offer on the table
Suppose you find yourself in a situation where you need to negotiate your salary with a hiring manager. In that case, you’re likely already given a job offer that entails not only the paycheck but other benefits as well. It would be rare for someone to ask for an immediate answer and if they do, feel free to request more time before replying. More often than not, people’s initial reactions will change after some thought. Assess whether the offer is reasonable and gauge it against similar positions.
Once you have a good understanding of your worth, it’s time to take a look at the initial salary offer that’s on the table. Is the salary fair? Does it reflect your skills and experience? If not, then it’s time to start negotiating with your potential employer.
3. Research the market average
One of the best ways to prepare for salary negotiation is to do your research. What are other people in your field making? What is the going rate for your job title? By understanding the average salary and salary range for your position, you’ll be in a much better position to negotiate a higher salary.
Researching the market average will help you understand what you’re worth in the marketplace. This information can be used to your advantage when negotiating your salary.
4. Decide what you want
Before entering into any negotiation, it’s crucial to have a clear idea of what you want. What is your ideal salary? What other benefits are you looking for? By having a clear idea of what you want, you’ll be in a much better position to negotiate a successful outcome.
To decide what you want, start by evaluating your needs. What is the minimum salary you would be willing to accept? From there, you can begin to consider what other benefits you might be interested in. Consider the industry average and research what other people in your field are making. Use this information to help you arrive at a fair and reasonable figure.
5. Rehearse with someone
It can be helpful to rehearse your negotiation with someone you already know. This will help you to fine-tune your approach and allow you to test out different strategies.
Role-playing with a friend or family member can help you feel more prepared and confident when it comes time to negotiate your salary. This is also an excellent opportunity to get feedback and make any necessary adjustments to your approach. You should also consider reaching out to your recruiter for support, they will be able to offer you more detailed advice.
6. Be assertive, not aggressive
When negotiating your salary, it’s important to strike a balance between being assertive and aggressive. You want to be firm in your request, but you don’t want to alienate or offend the other party. The key is to communicate clearly, concisely, and direct.
Start by expressing your interest in the position and thanking the employer for the salary offer. From there, you can state your case for why you deserve a higher salary. If necessary, be prepared to back up your request with data or examples. Finally, be willing to compromise and negotiate a fair outcome.
7. Show your gratitude
Once you’ve reached an agreement, be sure to express your gratitude. Thank the employer for their time and consideration. This will not only help to build goodwill but also show that you’re a team player willing to work together towards a common goal.
8. Be prepared to walk away
If you are in a situation where the employer is unwilling to meet your salary demands, be ready to walk away from the negotiation. This doesn’t mean that you should be overly combative or aggressive, but you should be firm in your resolve.
The key is to clearly understand your worth and be prepared to stand your ground. If the employer is unwilling to meet your demands, it’s time to move on.
The Bottom Line!
Salary negotiation is an integral part of the job search process. By understanding your worth and preparing for the negotiation, you’ll be in a much better position to get the salary you deserve. Remember to research, decide what you want, and be assertive (but not aggressive) in your approach. And, if all else fails, be prepared to walk away from the negotiation.
By following these tips, you can successfully negotiate a higher salary.