Salary Negotiation Tips
One of the trickiest parts of getting employed is figuring out how to negotiate salary for a new job. There are just so many things to consider. After all, you want a high salary but you don’t want to appear self-important, you’re afraid of giving numbers, and yet you dream of increased pay.
Well, you don’t have to worry about those things anymore. If you want to know how to negotiate salary for a new job, simply read the following tips;
SALARY NEGOTIATION TIPS
- Do Your Research:
Do you really want to learn how to negotiate salary for a new job? Then you must do your research first. Find out how people in the industry are carrying out their task, if you’re going for an entry-level position, find out what the entry-levels is all about so as not to look inferior for the entry-level. If you’re going for a managerial position, find out what skills and experience are required in carry the managerial duties. This way, you won’t sound like a novice when you eventually negotiate your salary for a new job.
- Assess Yourself:
Personal assessment is important and its not just so you’ll have something to say at an interview, knowing your strengths and skills helps you become more confident when negotiating salary for a new job.
You might have certain skills that are useful, but not quite common in the workplace. For example, you might be applying for the writer’s position at the company, but you also know how to design websites or speak fluently in three different languages. I’d say that would give you a better leverage!
- Be Confident:
When talking about money, it’s important that you appear confident not arrogant. Demanding a high salary, especially when you don’t have good credentials, will only turn you into a laughing stock.
- Refrain From Giving an Exact Amount:
If you’re not yet sure whether they’ll be hiring you or not, it would be in your best interest not to discuss salary in detail. You can give a certain range, but you should also add that it’s negotiable and flexible. This way, the company won’t cast your resume aside at once (especially if it turns out that they can’t afford to hire you).
- Be Willing To Walk Away:
Finding a decent job with good pay can be challenging. However, that doesn’t mean you have to accept a rate that is beyond low. You might be flexible, but you’re not that desperate. When a company low blows you, be prepared to walk away. There are other companies out there that will treat you fairly.
3 Things You Didn’t Know You Could Negotiate
(And Why You Should)
One of the biggest problems faced most in salary negotiation out there is that they focus too much on salary. The truth is, salary negotiation is about much more than just your base pay. In fact, if you just focus on salary during a negotiation, you might be doing yourself more harm than good. If you think outside the box, or in this case, your paycheck, you can impact your long-term earning potential pretty significantly. Before you walk into your next salary negotiation, make sure to think about things like “paid time off, educational opportunities, and your review schedule.”
- PAID TIME OFF
The time you spend away from work can be just as valuable as the time you spend in the office. Time off lets you recharge your strength to be able to give more, grow in thinking (helps in developing new developments), and take care of your life outside of work (never allow your personal issue affect your work). It’s also a prime area for negotiation – even when payroll budgets are tight, many employers can still be flexible with paid time off.
Official rules on paid time over (PTO) should be included in all formal written job offers, and you should never accept a job until you receive these details in writing.
- EDUCATIONAL OPPORTUNITIES
The fastest way to increase your market worth is to learn new skills. So education, whether it’s in the form of a degree, a certification course, specialized training on a crucial skill, or even training on a soft skill, like leadership or people management, not only saves you the cost of tuition, but will give you more bargaining power at your next review. So when negotiating the salary make sure “Educational Opportunities” are included in your agreement for self development.
- REVIEW SCHEDULES
Many people are surprised to find out that you can negotiate your review schedule, but this often-overlooked benefit can put your career progression, and your corresponding earning potential, on hyper speed. At most companies, employees are formally eligible for promotions and salary increases once a year, usually during the annual review period. Before you accept a job offer, always make sure to find out when that happens and ask how the company handles off-cycle reviews. If you are thinking of accepting a job for which you are overqualified, or if the hiring manager has communicated that they are completely maxed out on the monetary terms of your compensation package, ask for a review after three or six months where you can revisit compensation based on performance.
Learning how to negotiate salary for a new job can be eye-opening, but the actual experience can vary. Learn all you can from what you have experienced yourself, and use those lessons on your next salary negotiation.
