How to Negotiate Your Salary
Regardless of whether you are being promoted or have been offered a new job, an important factor to consider is if the salary proposed meets your n
eeds. This is a subject most people don’t typically enjoy discussing, especially with their employer. In fact, some don’t even bring it up with their employers before they accept a job offer or a promotion! The biggest reason behind this? Fear of rejection.
However, it’s crucial to negotiate the salary before you accept a job offer, otherwise you may find yourself agreeing to a salary which you are not happy with, therefore, you will be less motivated and not feel rewarded for the work you put in.
Here’s how you can go about negotiating your salary before accepting a job offer or promotion.
Know Exactly How Much You Want - According to a research conducted at the Columbia Business School, it’s crucial to quote a very specific number. Instead of saying you want $2000 more before you accept, you should say you want an increase of $2349 – a specific number. Using a specific number will get you a better result and it will demonstrate to your employer that you have conducted a market research before going to them with this odd number!
Keep Your Emotions in Check - It’s normal to feel stress and fear when you are negotiating your salary. However, if you let that overwhelm you, it would compromise your ability to take smart decisions and give the wrong impression to your employer. Instead, remain calm and professional.
By letting go of bad emotions and keeping a calm manner, you are more likely to negotiate a better deal.
Demonstrate Why You Deserve More - You have to show to your current or new employer why you deserve a better salary, and that means having your performance record or successes on hand. You must prove to your employer why you deserve a better salary! This will also show your employer that you are transparent and know your worth. If you want, you can make a presentation of how you, as a professional, can add value to their strategic goals and how they can reach these if they have you part of their organisation. This will be able to show them easily how much you are worth and how much it would cost them if they lose you.
Don’t Be Afraid to Walk Away - Of course, this only applies when you have a counteroffer or when your circumstances aren’t so dire. However, threatening to walk away when you’re not getting yes for an answer, should be part of your strategy. You have to know when to just throw in the towel and walk away. It’s not an easy thing to do, however, it’s important to know the right time to do it.
What do you think about these brief ways you can go about negotiating your salary? Let us know your ideas and share your experiences!