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Salary negotiation is a critical step in the hiring process.
It is important to understand that getting the salary you deserve is part of advancing in your career, and negotiating your salary will require you to walk into the conversation confident, prepared, and ready to secure the pay you deserve.
Let’s check those 5 tips to negotiate your salary and help employers better understand the value you provide.
“If you walk into a salary negotiation without a number, you’re at the mercy of an experienced hiring manager.” — Ramit Sethi.
Before you go into a salary negotiation, it’s crucial that you find out, objectively, how much someone in your position, with your experience and in your geographic location, should be paid.
For example, an administrative secretary in South America may have a lower average salary than one in the US, given all other factors the same. It is not just a matter of the country’s life cost but heavily related to how much the industry is willing to pay and offer/demand related.
2. Prepare Your Talking Points
When you begin your salary negotiation, be sure to reiterate why you’ll be a valuable employee and consider using the following factors to justify your desired salary: years of industry experience, years of leadership experience, education level, career level, skills, licenses, and certifications, results you’ve achieved in previous roles such as goals you’ve met, the revenue you’ve helped drive, or awards you earned, etc.
Rehearsing your talking points can help you gain confidence and identify areas of improvement in your speech. This step is really important because talking about money can sometimes feel uncomfortable, but the more you practice, the more comfortable you’ll feel when it comes time to have the conversation.
3. Be Vague about Salary History and Expectations
“If you talk about you’re making an unreasonably low salary now, that inequity will simply repeat itself.”
You might be asked, “What was your salary in your previous position?” In that case, answer with something vague like “I would be delighted to discuss compensation details further once I’ve learned more about the position.”
If you are asked about salary expectations again, keep it vague and give as much of a non-answer as you can.
– “Do you have a salary range in mind?”
– “I will consider any reasonable offer” or “I will contemplate the benefits package as a whole.”
4. Counter Offering and Negotiating
When asking for more money, it can be tempting to bring up phrases like “I have two young kids and daycare is very expensive; any chance we can do more on salary?”. Don’t play those cards.
If you feel the employer’s original offer is below the value that aligns with your skills and experiences, justify your ask by citing market salary standards, and most importantly, your value and what you bring to the table.
Rather than saying, “I think I deserve $35,000,” consider saying, “Correct me if I’m wrong, but I’ve heard that people with education level and experience like me typically earn $35,000 to $45,000.”
Another essential rule of salary negotiation is to give the employer a slightly higher number than your goal. However, be flexible. Even if the employer is unable to provide the salary amount you want, they may be able to offer other forms of compensation.
5. Express Gratitude
Probably you invested a great deal of energy and time interviewing for the position, but the employer has also invested time in the process, so it is so much important you recognize this and thank them for considering you for the opportunity. Even if you end up declining the offer, it is crucial to do so in a professional and cordial manner. After all, you never know what opportunities they may have available for you in the future.
Share your experience with us.
How do you negotiate?
What advice would you give to the community on negotiating their salary?