Regardless of whether you’re starting at a new job or interviewing for a promotion at your current one, salary negotiation is a top priority. Surprisingly, according to research conducted by various universities and salary websites, less than 40% of people negotiate their salaries, and 18% never do. Negotiating can be scary. To make sure you get the proper compensation package for your work, discussing it is sometimes needed. Here are some quick tips to help you along the way.
Research so you understand the going rate for your position in your industry and location. If you go into a salary negotiation with no number in mind, you can’t have control of the conversation. Sites such as Payscale and Glassdoor can help you determine the going rate and even help you avoid the gender and race pay gap. Speaking with recruiters is also a great way to help determine your worth by your experience.
Keep Your Thoughts Organized
Make sure that your research, thoughts, and numbers are all properly organized before heading into a negotiating meeting. There are plenty of online resources to help you organize.
Pick the Top Wage
You’re likely to find a range of numbers in your salary research, and it’s suggested that you ask for the top figure instead of somewhere in the middle. Keep in mind that your manager is likely to negotiate down, so you need to give yourself wiggle room to get a number you’re happy with.
Have an Exact Number
Research conducted at business schools state that when you ask for an exact number, such as $55,750 instead of $55,000, you’re more likely to get a closer offer. Your employer is going to automatically assume that you’ve done extensive research and that you know your market value.
Know When to Walk Away
While walking away from an offer is challenging, you need to ensure that you have that “walking away point,” so you don’t end up accepting a number that doesn’t meet your worth. You need to be powerful enough to say no if you’re looking for your ideal salary.
The way you walk into a room can change the entire atmosphere in it and also set the interaction up. If you walk in with your head high, full of confidence, and you’re smiling, your salary negotiation meeting is going to start on a positive note.
Demonstrate What You Can Do
Having a number during your negotiation isn’t going to be enough. It’s vital that you show your manager or potential manager what you are doing now, what you can do in the future, how your skills line up with the figure you’re looking for, and why you feel you’re worth the number you’re asking for. Your ability to present them with information that backs up your figure is going to impress your employer.
Don’t Make It Personal
It’s imperative that you don’t focus on your personal needs, such as your rent or childcare increasing, during your negotiation. You are going to make a better impression on the boss you are meeting with if you stick to the topic of your achievements, performance, and future goals.
Don’t Be Scared of Countering
Think of salary negotiations as investments. If you receive an offer from your employer that you feel doesn’t meet the market value or your needs, ask open-ended questions, and counter. Ensure that you leave yourself room to adjust, and don’t come across as greedy. It’s likely that both you and the employer is going to have to make a few offers before you finally agree on one.
Those are just a few tips that can help you make it through your salary negotiation. Don’t let yourself be in the percentage of people who never talk about salary or ask for a raise; you work hard, and you deserve to get compensated for it. However, always remember never to be rude and remain professional during your negotiations. Otherwise, any offers you get might get taken off the table. What tips do you have for those entering a salary negotiation for the first time?