In a general scenario, individuals may believe they have successfully navigated the interview and made a positive impression. But this is often just the beginning of a different yet critical conversation – salary negotiation. If the initial offer extended by the employer falls short of one’s expectations, it’s important to be prepared to negotiate for a higher salary. A few salary negotiation tips can empower one to articulate their value and terms with confidence.
1. Basic research is imperative
For any price negotiation, including the one for salary, knowing the current market value is important. This means that before putting forth an offer for salary negotiation, one must find out the range of pay that is being offered for that particular role. Along with the position, one must also factor in the years of experience and the educational background for which a particular range of salary is commonly offered. Once the numbers are determined, one can confidently roll in the offer to the employer. A good way to determine the current salary range for a position is by either asking individuals who work in the same field or by browsing through online job posting platforms.
2. Determine the strong points
Before deciding on a salary negotiation number, one must evaluate what one is bringing to the table. This involves understanding one’s strengths (particularly skillsets), which will ultimately define one’s worth and boost confidence during the negotiation. Additionally, conducting research about the job role and evaluating one’s strong elements can be beneficial in the process.
-
Educational background
The degree or other relevant educational certification that one holds can have a major impact on one’s salary. The more relevant one’s degree or certification is to the role, the better chance one has of negotiating for a higher salary.
-
Years of experience
It is no secret that the more experience one has in the relevant field, the higher salary one can ask for.
-
Achievements
If one has received industry-relevant accolades and recognitions, one can use them to their advantage during the negotiation process.
-
Technical skills
During salary negotiations, one can also mention the number of relevant technical skills one has gained over the years and how they can benefit the company. This will warrant a higher salary.
3. Consider the geographical location of the office
When negotiating the salary for a new job, one can also consider the location of the potential workplace as a key factor. Offices that are located in areas that have particularly high costs of living usually tend to pay higher salaries to match those costs. If one is relocating to this new location for a new job, one can also add that as a key factor as to why one deserves a higher paycheck. Along with that, factors such as the cost of commuting can also be grounds for asking for a higher package.
4. Set a baseline figure
Based on the research, evaluation of the strengths, and other considerations, one can proceed to set a baseline amount that they would be willing to accept. This process will also allow one to determine a practical higher range that they can mention to the employer. One must also be ambitious about this higher number and remain confident during the discussion, believing that they deserve that amount. Establishing a baseline will allow one to set clarity on their expectations with the employer without faltering.
5. Practice the discussion
Despite having clear numbers and points in mind, many individuals may struggle with the actual conversation during salary negotiations. A lack of confidence at this stage can hinder one’s ability to advocate for themselves. To avoid this challenge, practice the negotiation discussion before approaching the employer. Seek assistance from a trusted friend for a mock discussion, if required. This process can help refine one’s negotiation skills and enable them to articulate clear statements when speaking with the employer.
6. Prepare for tough questions
One of the most effective salary negotiation techniques is to be prepared for challenging questions from the employer. When requesting higher remuneration, expect the employer to ask many questions, such as why the company should agree with the proposed amount or whether the company is one’s top choice in their career. Giving a satisfactory answer on the spot is key here. Therefore, practicing the responses in advance is essential.
7. Avoid saying things that could indicate a lack of confidence
During the process, avoid saying certain things that may indicate a lack of confidence. For instance, refrain from apologizing for asking for higher pay, as this suggests doubt and clarity in one’s value and clearly indicates a lack of conviction in the proposed figure. Likewise, one must also avoid excessive explanations about one’s experience and skills. Instead, focus on answering the questions that are asked with confidence.
These salary negotiation tips are useful not only for a new job but also for discussions regarding asking for a raise in the current job.
