If you are about to start a new job or you’re involved in a promotion at our current one, you should know how to negotiate your salary.
A survey done by Salary.com revealed that only a 38% of employees negotiate their salaries. The main reason for not asking for more is fear to don’t be selected for the role or being fired for asking to much.
Another study revealed that only a 7% of women negotiated their first salary, while a 57% of men did. Of those people who negotiated, they were able to increase their salary by over 7%. In a nutshell, whether you’re male or female (in your first job or your fourth), you should learn how to negotiate your salary.
So the first thing to do before to start a new recruitment process is improve your negotiating skills. Once you are more comfortable with negotiating in general, use the following tips in order to get the best “deal” on your salary and benefits.
How to negotiate your salary
1. Know your value
If you want to get the pay you deserve, it’s important to know the average rate for your position in your specific industry and in your geographic area. If you walk into a salary negotiation without a number, you won’t be able to control the conversation. So you must do an online search on sites such as Payscale or Glassdoor, or you can simply ask other professionals in your field through LinkedIn.
2. Talk to recruiters
If you have a LinkedIn account, for sure you are already connected with a recruiter in your market. Send them a message asking for advice, for sure they will help. Recruiters in your market know what people with your experience and expertise are worth, The next time a recruiter reaches out to you, start a conversation with him/her and talk about the position’s responsibilities but also about the salary and other benefits.
3. Don’t use a salary range
Many professionals suggest that you should never use a salary range when negotiating. For example, if you say “I’m looking for a salary between 50K and 55K”, the person you’re negotiating with will jump to the smaller number. Anyway, if you want to do it, try to make that range as small as you can. Instead 50-55K, better say 54-55K.
4. Walk in with confidence
Keep your head high and smile when you enter. Asking for anything with a positive vibe is very important, no matter how small it is.
5. Be sure you are ready
Before you ask for a raise, you need to ask yourself a some important questions: Have you taken on new responsibilities since you’ve been hired? Have you been at your job for at least one year? Have you been exceeding expectations (rather than just meeting them)? The answer to all of these questions should be “Yes.”
6. Plan the right timing
Most people wait until review season to ask for a salary adjustment, but by that time, your manager has probably decided the raises. Our advice is to start talking to your boss about getting a salary raise three months in advance.
7. Ask for more than you want
You should ask for a bit more than you actually want. Psychology shows that your manager will feel like he/ she is getting a better deal if he/she negotiates down from your original ask. The worst can happen if you give a high number is that the other party will counteroffer.
8. Focus on market value
Rather than discussing a raise based on your current salary, focus the conversation on what the market pays for another professionals like you. (your “market value”).
9. Don’t make threats
Don’t threaten to leave you role if you don’t get the raise. It’s very important to keep the conversation positive, so you shouldn’t threaten your manager with other job offers or interviews.
10. Don’t forget to listen
Don’t forget to listen to the other party during your negotiation. Paying attention to what the other person is saying, you can understand his or her needs and incorporate them into finding a solution that makes you both happy.
Salary negotiation is a critical step in the hiring process. As with any new skill, the more you negotiate, the easier it will become. By using the above tips to negotiate your salary, you can walk into the conversation confident, prepared and ready to secure the pay you deserve.
In case you have any other tip in regards to how to negotiate your salary, please comment below and share your thoughts with other professionals in your market.
