Never let your employer decide your worth. Here are the 10 best tips to negotiate your salary that will put you in the driver’s seat to earn what you worth.
Many people aren’t comfortable asking for more money once they have an offer in front of them. If the salary is good enough, they don’t want to risk the job offer by asking for more. And some job seekers are even more likely to feel the same after the Covid-19 outbreak.
If you have specialized skills and an impressive resume, you’re probably leaving money on the table if you don’t negotiate the salary offer. Still, it would be a big mistake to start a salary discussion without proper preparation.
Negotiating your salary at a new company might seem a little frightening, especially when you really need the job. But trust me it is one of the most impactful things you can do to grow financially.
"The amount a company offers says more about how they value the job itself than how they value you as a person" ~ Dixon.
10 Basic Tips To Negotiate Your Salary
Do you know you have the best salary negotiating power when you’re interviewing with a new company?
Companies have to put a lot of effort into finding the right people to fill the positions. It’s cheaper to give a new employee more money than to spend more time and resources in search of more applicants.
Still, there is a right and a wrong way for how to negotiate salary offers. The more informed you are about how to negotiate your salary for a new job, the more likely it is to get what you’re asking for.
Here are the 10 tips to negotiate your salary that can help you tactfully and confidently ask for what you want.
Research About The Position
The best way to enter into a salary negotiation with confidence is to do some research about the position. You can know about the salary range of a particular position the market offers from sites like Indeed, Glassdoor, etc. It will give you a clear idea of the going rate with your experience, skills, and knowledge.
Also, take consideration of geography, as the cost of living in a big city might bring higher pay.
Communicate Your Values
You probably spent a lot of time making your resume, so don’t forget to negotiate your salary and waste your hard work. Clearly communicate all the values you can bring to the company. Let your employer know about the skills you haven’t mentioned in your resume. Demonstrate why these skills are good for the company and how you can implement them.
Having certifications, specialized technical skills, anything that enhances your ability to do the job, so don’t fail to mention them. You can make a solid case by combining your strength and values you bring to the table and get paid more. This is one of the most important tips to negotiate your salary for the new job offer.
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Find Common Grounds
A study found that human minds are made in such a way that it gives preference to the relationships with people who have common interests and background. Finding common ground with the hiring manager can you give you a clear advantage in the negotiation process.
You can find the common ground by checking the LinkedIn, Facebook profiles of the hiring manager and find something that is common like Graduation School, Favorite sport, etc. This is one of the rare tips to negotiate your salary anyone has ever given.
Don’t Negotiate Against Yourself
One major mistake to avoid in the salary discussion is disclosing your salary history. Your past salary is rarely relevant during salary negotiation. You’re not obligated to tell the hiring manager about your salary history.
In fact, 19 states in the USA have bans against employers asking for an applicant’s salary history. As it gives rise to the gender wage gap.
Start Higher Than You Want
You already know how much you want, and till now you might have an initial offer from the hiring manager. You can still expect more from the offer. Suppose, you have found out the range in salaries for your position, ask for the higher end of the range. This will give you room to receive a counteroffer with what you expect.
According to research, it has been found that 73% of the companies expect the new hires to negotiate, so they intentionally put forward a lower initial offer. You can always go for a higher counteroffer by keeping the negotiation positive.
Factor In Perks & Benefits
When you receive your first offer and go for further negotiation, look at the total salary package the company is offering. It includes Base Salary, Health Insurance, Paid Time off, and unique benefits like Free Food, Work from home, etc.
Consider what is valuable to you, and what additional things can make it more attractive. A company might not be able to make any changes in base salary but they may negotiate some non-cash benefits to your salary.
Also make sure to take consideration of professional development opportunities with the potential employer.
Have A Salary Negotiation Script
If you don’t know what to say when negotiating the salary offer, you can find many salary negotiation scripts across Google that you can follow. Below you can see one example of a negotiation script.
Hi [EMPLOYER NAME], Thank you so much for getting back to me. I really enjoyed e-meeting with you and the other members of the team. I’ve reviewed your offer and believe that a salary of [XX,XXX] is more commensurate for someone in this position. Is that something you could match? Take care, [YOUR NAME]
A script can be very useful if you’re negotiating via email. Don’t rely on the exact words of the script, use it as a guide and create a solid conversation.
Don’t Be Impressed With The 1st Offer
No matter, how the high salary you have received in the first offer, do not act impressed. Stay neutral and say, “I appreciate the offer“.
The less impressed you act the solid base you create at your negotiation process.
When you have received the first offer take time to review it and discuss it with your family and friends. Later, when you come back to the negotiating table after discussing it at home, you’re in a strong position to ask an open-ended question like…
“I’m really excited about this offer but after discussing it at home, I was wondering if there was anything more we could do in terms of salary?”
Be Positive And Polite During The Entire Negotiation Process
Your thinking plays a very important role during negotiation, getting angry and tense weakens your position. The worst thing that can happen during a salary negotiation is you start acting firm and annoying.
A better strategy would be to stay overly positive and polite. Treat negotiation process like Networking. The better connection you make the more position you make in front of the employer. Never decrease your enthusiasm for the job during the negotiation process.
Let The Other Side Feel Like They Won
Remember, whenever you’re negotiating for a new job, you always have the time in your side.
While, the hiring managers have to fill in the positions as soon as possible with the right candidate. So, create leverage by going into negotiation with more than one option.
Your goal should be to get the companies to invest more time in you as much as possible.
- Get them to send as many emails as possible.
- Get them to talk with you on phone.
- Request a office tour if possible
The more you get them to invest in you, the more leverage you will create. Find as many ways as possible to help other side feel like they have won.
Negotiating a salary is Marathon, not a sprint. Take as much as you want, write good emails, and follow up with detailed open ended question. Engage the other side as much as possible and stay polite every time.
Let them know what values you are going to bring to the company. Get in prepared, confident, and always ask for what you’re worth on your next job offer.
Negotiating your salary may feel a little stressful, but it impacts your earning potential for the rest of your career.