Whether we’re starting a new job or gunning for a promotion at our current one, we all know that we should be negotiating the salary.
Or do we? The biggest reason why people don’t ask for more? Fear.
And we get it: Salary negotiation can be scary. But what’s even scarier is not doing it.
Here are the top 10 tips to help you negotiate your salary.
- Know your value — If you’re going to get the pay you deserve, it’s crucial to know the going rate for your position in your specific industry and in your geographic area.
- Talk to Recruiters —Pick up those calls from recruiters. They know what people with your experience and expertise are worth, so use it to your advantage.
- Organize your thoughts — Organize all of your thoughts and research in one place and use these resources during the negotiation.
- Pick the top of the range—As you’re doing your research, you’ll likely come up with a range that represents your market value. It can be tempting to ask for something in the middle of the range, but instead you should ask for something toward the top.
- Know the (exact) number—According to researchers, you should ask for a very specific number. Turns out, when employees use a more precise number in their initial negotiation request, they are more likely to get a final offer closer to what they were hoping for. This is because the employer will assume you’ve done more extensive research into your market value to reach that specific number.
- Be willing to walk away — When considering your numbers, you should also come up with a “walk-away point” — a final offer that’s so low that you have to turn it down. This could be based on financial need, market value, or simply what you need to feel good about the salary you’re bringing home. Walking away from an offer will never be easy, but it’s important to know when to do it — and powerful to be able to say “no.”
- Make sure you’re ready —Before you ask for a raise, you’ll want to ask yourself a few questions. Have you been at your job for a year? Have you taken on new responsibilities since you’ve been hired? Have you been exceeding expectations (rather than just meeting them)?
The answer to all of these should be “yes.” - Plan the right timing —Turns out, timing is everything. Most people wait until performance review season to ask for a salary adjustment, but by that time, your boss has probably already decided what raises will be doled out to the team. Start talking to your boss about getting a raise three to four months in advance.
- Prepare a one-sheet— Prepare a one-page summary that shows exactly how awesome you are as an employee. List any accomplishments, awards, and customer or co-worker testimonials you’ve received since your last review. You want to demonstrate your value to your boss.
- Remember practice makes perfect— Rehearse, rehearse, rehearse. Write down what you want to say, and practice to a mirror, on video, or with a friend until you’re super comfortable having the conversation.
You are ready to negotiate and get that money. And your first job doesn’t need to be a big question mark. In the end, all of this is about you and your choices. And there is no “right way”. Only your way.
Matching You with Your Future
Landing.Jobs Team
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