“You don’t get paid for the hour. You get paid for the value you bring to the hour.” — Jim Rohn, businessman, author, and motivational speaker.
Salary negotiation is a critical step in the hiring process.
Understanding that getting the salary you deserve is part of advancing your career is essential. Negotiating your salary will require you to enter 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 a salary negotiation, you must objectively determine how much someone in your position, with your experience and 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. 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.
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 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.
“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 possible.
– “Do you have a salary range in mind?”
– “I will consider any reasonable offer” or “I will contemplate the benefits package as a whole.”
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.
You invested a great deal of energy and time interviewing for the position. The employer has also invested time in the process, so you must recognize this and thank them for considering you for the opportunity. Even if you decline the offer, it is crucial to do so professionally and cordially.
WEEKLY VOCABULARY 🗣
📌Counteroffer: an offer made in response to another.
📌Prospect: the possibility or likelihood of some future event occurring.
📌Salary range: the payment amount between a set of low to high numbers that an employee wants to receive once a company hires them.
📌Former position: the last regular position to which the employee was appointed.
📌Consider your position: think about leaving your job.
PHRASAL VERBS ✍
📌Give in: tell your employer that you are leaving your job, especially in a letter.
“Laura gave in the notice on Thursday. She’s going to study in Scotland.”
📌Stand down: to leave a job or position, especially an important one.
“Mr. Harris stood down because the manager refused to apologize for her comments.”
📌Bet my bottom dollar: you’re so sure of something you’d bet your last dollar on it.
📌Pay peanuts: to work for very little money.
📌How to ask for a pay raise https://www.englishpriority.com/how-to-ask-for-a-pay-raise/
📌Prepare For a Job Interview https://www.englishpriority.com/prepare-for-a-job-interview/
📌Money Anxiety https://www.englishpriority.com/money-anxiety/
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