A subscriber recently asked me for tips and tricks on how to negotiate a salary. They are not very experienced at salary negotiation and would like to improve.
Expert salary negotiation takes a lot of experience and a lot of practice. My experience has allowed me to negotiate salary many many times, and I have been able to realize significant salary gains as a result. I am writing here to outline what I consider a great, quick approach that can help arm you for salary negotiation and get you ready to negotiate a great salary.
What follows here is a great set of introductory strategies, however there are many approaches to salary negotiation. It is very important for those looking for a higher salary to have the full picture. You need to know all the relevant strategies for salary negotiation to be successful. You may be faced with objections and have negotiation hurdles to overcome.
I am going to give you the best possible synopsis of salary negotiation to do's in this article. It is certainly a vast topic with a lot of nuances.
Lets have a rundown of some of the basic steps.
1) Be diligent in your job market research to find out the perceived value of the role you are going to fill. Check with some common salary web sites like salaryexpert.com or salary.monster.com or payscale.com for those.
2) Document all the things you can where you have added value to the business or employer. Pay special attention to tasks you do that are above the call of duty.
3) It is very useful to know where you stand compared to other staff in your company. This can involve some research on your part. Ask people. It is seemingly more acceptable these days to discuss salary in social circles. Choose your words carefully when discussing this sensitive subject.
4) Plan out a strategic time to plant the seed in your supervisors mind. Approach them when they have time, not when they are rushed out the door or off to their next meeting.
5) Determine if the boss feels it is a good time for a meeting, and then approach them with your request. Be confident in your approach because you know you've contributed a lot, and you've build your supporting foundation for the raise request.
6) Make sure you dilligently rehearse the negotiation through some objections and have thought out your responses. There is usually a way to keep the salary negotiating on path that meets both sides needs.
7) It can get discouraging in salary negotiatiosn, but do your best to maintain your high self confidence. Never give an ultimatum when negotiating salary because you may be forced to act on it. You don't want to find yourself looking further for another job.
There are many ways negotiations can play themselves out, and its important to avoid pitfalls and other roadblocks that can sabotage your success. Make sure to consider topics and approaches that you could take that would cause you to fail. Awareness is the best way to avoid these problems and to come out successful.
One successful strategy is to defer the topic of how much salary until the employer brings it up. They will either disclose their acceptable range, or they will ask you what your acceptable salary range is. It is best to put this off as until as late in the salary negotiation process as possible.
When you receive an offer that you're not happy you can always ask the employer the question, is that the best possible offer you can make me at this time? When you follow up with silence, the boss will be scrambling to say something. If the answer to the question is yes, you need to discuss why you cannot accept it, and that you have reasons to believe you are worth more. If the response is no then ask them if it is possible for them to give your top salary request.
Whatever tactics and strategies you use, make sure you're prepared with a well supported case for your increase. Know your script well. Be prepared for their objections, and know how to deal with unplanned or unusual situations. Always leave the door open for further negotiation, until you get the close that you are happy with.
Wishing you the ultimate success in salary negotiation!
Job Offer Salary Negotiation
I was recently speaking with a client interested in improving her negotiation skills for her upcoming salary review. She has been in her new position for just over four months. She has exceeded expectations, and feeling confident in her job. However, she is unhappy with her salary. Afraid to negotiate and risk losing the job offer, and grateful for the paycheck, she accepted the job offer without negotiating her salary or compensation package.
Salary negotiation is the most sensitive part of a job interview. We emotionalize it because we are uncomfortable talking about money. You needn't be afraid or feel at the mercy of your employer. They expect you to negotiate. In fact, in virtually all instances an interviewer has the power to negotiate a higher salary. However, you must prepare for your job interview including salary negotiation in the same manner you prepare your resume, cover letter, etc.
Starting a new job or position is the best time to get the salary or compensation package you want. After you are hired it becomes a bit more difficult to make up your salary.
Salary Negotiations Research Results
Research Question#1: Do you expect candidates to negotiate regarding their salary, benefits, and work schedules once you've made an offer?
Results:
82% reported that they did expect a candidate to negotiate.
18% reported they did not expect a candidate to negotiate.
Research Question #2: On average, how much of a range do you have to negotiate a higher salary with a professional candidate (not hourly personnel)?
Results:
64% reported they can negotiate up to 10% higher salary.
20% reported they can negotiate up to 20% higher salary.
18% reported they have no limit on salary negotiations.
0% reported they have no authorization to negotiate higher salary.
Salary negotiation is about what you think you are worth. Therefore, before entering into a salary negotiation you need to know the following:
-Know the market; research salaries
-Understand your value - what are you worth based on your skills and experiences?
-Be clear on the skills and qualifications required for the position
-Don't overlook the overall compensation package
-Know what you want
How do you go about negotiating your salary?
You should never bring up salary during the interview. Always let the employer bring it up. If a salary amount is offered take your time to consider it before accepting - 1-2 days is acceptable before approaching the negotiation process.
If you are asked your salary expectations, give a range based on your research or tell the employer you are open based on the position and the overall compensation package. Again the negotiation starts after the employer has made the offer.
During the negotiation process, you should consider the entire remuneration package, not just salary, including job related benefits, and working conditions like time off, location and other factors. If it's a job you want but the package is not ideal, be ready to try to influence the employer to improve the offer by pointing out your skill sets and ways in which you can add value to the company. If all else fails, be prepared to say 'No' if your bottom line needs are not being met.
Both Trevor Davide Grant & Cecile Peterkin are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Trevor Davide Grant has sinced written about articles on various topics from Salary Negotiation, Salary Negotiation and Interview Questions. Trevor Davide Grant is a PM in the IT field and has extensive experience in . Trevor has worked for large telecom, electric utilities, IT cons. Trevor Davide Grant's top article generates over 1000 views. to your Favourites.
Cecile Peterkin has sinced written about articles on various topics from About Branding, Personal Finance and Leadership. Cecile Peterkin is a Certified Career and Life Coach. Feeling stuck in middle management or mid career? Claim your FR-EE Assessment and complimentary coaching session at our. Cecile Peterkin's top article generates over 5400 views. to your Favourites.
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