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!