Asking for a bigger salary isn’t the most comfortable situation for most people. Whether you’re interviewing for that dream job or have been employed at the same place for years, this is true. But if you know your skills are worth more money, asking for it is perfectly acceptable.
But despite what you bring to the table, you still must explain why and ask for the increase. There are steps to negotiating that highlight what you have to offer a company and why you’re worth it.
You Don’t Need the Money
You have childcare, a mortgage payment, car insurance; most everyone else does, too. So don’t go into negotiations telling the manager or HR director how you “need” the raise or salary.Instead, make yourself a one sheet of all the knowledge and experience you bring to the job. Then use it to explain how you’re an asset.
You deserve the salary increase; you don’t need it. Know your worth and communicate that to the decision maker. Justify why a salary increase is warranted.
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Research the Industry
What is the compensation range of the job you’re seeking? Remember, part of the range depends on which region you’re in. If you’re not sure, talk to recruiters. Glassdoor can also give you a range for your area. Then be prepared to ask for the top of that range.Let Them Know You’re Serious
The HR director will more likely go to bat for you if she knows you are serious about the position. On the other hand, if the director suspects that no matter what they offer, you might not take it, you won’t receive what you want.Talk about how you like the company. Make it clear that if the two of you can come to terms, this is where you want to work. She'll be more likely to go to the higher-ups to secure your asking price.
What Is the Question’s Intent?
Think about what the other person wants, not just what you want. You should evaluate the intent of every question asked. Don’t let a difficult question throw you for a loop.For example, asking whether you’ve had other offers might merely mean are you available if the two of you come to terms.
You don’t need to assume the worst with any questions. Just analyze what the intent of the question is. Most questions are harmless. They just want to get to know you.
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Evaluate the Whole Deal
Don’t be enamored with just dollars and cents. What’s the whole deal? Are the benefits great? Are there opportunities for advancement or continuing education? Maybe you want to work remote one or two days a week.If you can’t negotiate a higher salary, see if there are other items you want that they can add to the package.
Have an Exact Number
So, you’ve done your research and discovered that the salary range for the job is $65,000–75,000. Don’t go into negotiations with that range. Choose a specific number. Put $75,000 out there. If you give a range, they will choose the low end.It’s easier to come down than to go up. So be exact as to what salary you want.
Discuss the Future, Not the Past
What do you have to offer the new employer for the future? Yes, you want to discuss your experience, but how does that relate? For example, if you’ve increased sales in the past, are you capable of doing it for them?If you have a particular skill, how will that help with the tasks they have to accomplish?
Everything you’ve done should be turned around and applied to the future.
Be the First One With a Number
Don’t wait for them to give you a number. The first number is the most important. It’s the starting point. All negotiations will be based on this number. So, by putting the first number on the table, you take control of the negotiations.Don’t go in low, or you could leave money on the table. Remember it’s easier to negotiate down than up. And by establishing the starting point, you set the tone.
‘No’ Is Part of the Process
The word “no” isn’t necessarily the final answer. It’s merely part of the process. A negative response could be a door opening to a new conversation. The number or benefits you asked for may not be available, but what’s the alternative?If you’re still sitting in the chair across from the HR director, you’re still negotiating. Fall back and take a different approach.
Understand the constraints the person across the table may be under. Try to figure out what those are and work around them. The answer ‘no’ is the beginning.
Watch Out for Ultimatums
Nobody wants to be given an ultimatum. Although you should be prepared to walk, you want to avoid demanding your requested salary or else. You may be trying to show determination or assertiveness, but it will probably backfire.If you don’t receive the answer you want right away, open up a discussion as to why it’s not possible and what is.
And remember, it works both ways. If they give you a “take it or leave it” demand and you’re uncomfortable with the offer, don’t be reticent about leaving. Although it might be a ploy, it could indicate what the company is about.
Get It in Writing
Make sure you have everything you’ve negotiated in writing before you accept the offer. This is the final, and you don’t want changes after the fact. Everyone needs to be in agreement.No Need to Fear Negotiating a Salary
The biggest element in salary negotiations is knowing what you want and justifying it. This is not an adversarial meeting; it’s laying out that you are an asset and should be compensated appropriately.The Epoch Times Copyright © 2022 The views and opinions expressed are those of the authors. They are meant for general informational purposes only and should not be construed or interpreted as a recommendation or solicitation. The Epoch Times does not provide investment, tax, legal, financial planning, estate planning, or any other personal finance advice. The Epoch Times holds no liability for the accuracy or timeliness of the information provided.
