How to negotiate salary ? To give us the opportunity to get or get as close to what we want as possible. Let’s find the answer with 37 ways to negotiate salary that you should know in this article.
For salaried people like us who earn a daily living, in addition to the so-called Passion that drives us to develop ourselves every day, “salary” or “compensation” is another very important thing and is almost the main reason why we work.
“Only 37% of people always negotiate salary .”
Whether you are starting a new job or getting a promotion, you should have salary negotiation skills to protect your rights and increase the compensation you deserve. According to an international survey by Salary.com, only 37% of employees dare to negotiate their salary every time they start a new job or get promoted. Meanwhile, only 18% of employees never negotiate their salary. Worse still, 44% never mention asking for a raise during a performance review.
“Negotiating salary can be scary, but it’s even scarier not to do it.”
A study by Margaret A. Neale, a Stanford professor of negotiation, showed that if you were offered a salary of $100,000 and your coworker, who joined at the same time as you, negotiated his salary to $107,000, that would mean that if that salary were fixed over a 10-year period, your future wealth levels would be vastly different.
So whether you’re a newbie, starting your first job or your fifth, getting a promotion or a move, it’s time to learn how to negotiate for the money you’re likely to earn. Here are 37 ways to negotiate your salary that you should consider.
Preparation [Verses 1-11]
1. Know Your Value – If you have been offered a certain number by HR, it is important to know what the base salary for this position or other companies with a similar scope of work to yours is. And once this number is a starting point, how much can you ask for if you were to walk into a salary negotiation?
2. Talk to recruiters – A recruiter here means someone who contacted you when you applied or is interested in hiring you for their company because they saw your profile (head hunters, recruiters, etc.). Take the call from these recruiters – they know the value of someone with your experience and expertise. Use your contacts to your advantage, engage in conversations about both the responsibilities and salary of the position you are interested in.
3. Organize Your Thoughts – To organize your thoughts and research the jobs, positions, levels of companies, and the money that can be asked for in each job or position, try studying the free resources at She Negotiates.
4. Choose the top of the range – As you’re doing your research, you may come across a salary range in your chosen profession. Although our culture teaches us to be humble, and that may be why you choose the middle number out of modesty, you should ask for the top number instead. You are entitled to the highest salary, and you should know that even if you choose the top number, you will be negotiating with your employer. Therefore, you need to have some room to make sure that you are happy with the salary.
5. Know the (exact) number – You should ask for a very specific number, like $37,550, not $37,000. When employees use a more precise number in their initial negotiations, they are more likely to get an offer closer to what they were hoping for, because the employer will assume that you have done your research.
6. Be willing to walk away – Once you have a number in mind, you should have a “walk away point” – a final offer that is too low for you to accept and you must decline. This could be based on financial need, market value, or simply what you need to feel good about the salary you are being paid. Walking away is never easy, but you need to know when to do it.
7. Make sure you are ready – Before you ask for a raise, you need to ask yourself a few questions. First, do you have a year or more of work experience? Second, do you have anything that exceeds their expectations or goals? What makes you better or better than other candidates?
8. Plan the right time – Timing is everything. Most people wait until performance review time to ask for a raise, but by then your boss will have already made decisions about which teams or departments to give a raise to. Instead of waiting until the salary announcement, start talking to your boss about a raise 3-4 months in advance. That’s when employers have time to make budget decisions.
9. Prepare a sheet – Prepare a summary that demonstrates what a great employee you are. List all your achievements, awards and compliments from clients or colleagues on a piece of A4 paper. You can present it orally or use it as part of a portfolio that you submit to your workplace.
10. Remember that practice makes perfect – Practice, practice, practice is the most important thing. Write down what you want to say and practice it in front of a mirror, record a video, or practice with a friend until you feel comfortable having a conversation.
11. Schedule a Thursday meeting – Studies have shown that you are more likely to get a raise if you negotiate on a Thursday. Employees tend to start the week feeling dissatisfied and stubborn. As time goes by, we become more flexible and tolerant. Thursdays and Fridays are the days when we are most open to negotiation and compromise.
Initiating Negotiations [Sections 12-20]
12. Power Up – Before you start a negotiation, try Amy Cuddy’s power pose, also known as the bathroom stunt. Stand tall, put your hands on your hips, and hold your chin and chest up proudly. This increases testosterone, which affects confidence, and decreases the stress hormone cortisol.
13. Drink coffee – A study by the European Journal of Social Psychology found that caffeine makes us more resistant to persuasion, meaning you’ll be able to hold your ground in a negotiation more easily.
14. Walk in with confidence – How you walk into a negotiation room determines how the rest of the interaction will be after the negotiation. Have you ever seen someone face down at the door with a sullen face before entering a negotiation? They seem unmotivated, and their anxiety is high. You should hold your head up high and smile when you walk into a negotiation room. Start things off on a positive note, no matter how small.
15. Start with questions – Your negotiation should start with questions to understand the other person’s true needs, desires, fears, preferences, and priorities. Getting answers to diagnostic questions about the other person’s needs will give you answers that will help your negotiation go well and in the direction you want. For example, “What is your most important thing right now?” This question will help you understand why your other person is here and offer solutions that will help him/her.
16. Show what you can do – Before you start talking about the numbers you want, start by talking about what you have already done, followed by what you can or can do for the company going forward. Remember those one-page A4 bragging rights plans? Use that list to promote yourself. Highlight the key roles you have played, then talk about any future ideas you are excited about, or plans to move your organization forward.
17. Focus on the future, not the past – When it comes to salary negotiations for a new job, it’s not uncommon for companies to ask about your current salary. While this can be a tricky situation, especially when you’re underpaid at your current job or need more money, there’s no point in lying about it. Start by giving a figure of your current salary, but make sure it includes benefits and bonuses. Then quickly build on the numbers you want to hear. Explain your new skills and responsibilities, your market value, and your growth potential.
18. Think about the other person – When preparing for a negotiation, consciously think about the situation from the other person’s perspective. Research by Columbian psychologist Adam Galinsky shows that when we consider the other person’s thoughts and interests, we tend to find solutions that work well for both parties.
19. Think about others – Research from Columbia Business School shows that people, especially women, tend to do better at negotiation. So when preparing for a negotiation, think about how what you’re asking for will positively affect those around you, whether it’s you, your family, your coworkers, or even your boss. If you’re happier with your position and compensation, you’re more likely to work hard and succeed.
20. Stay Positive and Take It Easy – Negotiating your ideas can be scary, but you should always keep the conversation positive. Talking about how much you enjoyed the work and challenges of the projects you worked on last year, and how much you can expand your work in the coming year, will make the discussion more likely to be about considering compensation.
Begin by asking [questions 21-31]
21. Mention your number first – It is very important to start with the first number in the negotiation because if you start with a number that is too low, the final offer you get may be lower than you want. You should always be the first to mention the number to control the negotiation.
22. Ask for more than you want – You should negotiate for a figure that is more than you actually want. Psychologically, this will make your opponent feel like he or she is getting a better deal when they make a final offer because it seems like the negotiation is going their way, but in reality, the negotiation is going your way. The deal is reached at a figure that is less than the initial figure you asked for.
23. Don’t Use a Range – You should never use the word “between” when negotiating . For example, you should not say “I would like a salary between $50,000 and $60,000.” If you use a range like this, you are willing to accept the lowest number you have offered, which will cause the other party to negotiate to a lower number immediately.
24. Be Kind But Firm – If this is your first job negotiation, here’s a good script to try. This one, by Rebecca Thorman of U.S. News & World Report, says, “I’m very excited to be working here. I know I can bring a lot of value here. I appreciate the $58,000 offer, but I’m actually expecting something in the $65,000 range based on my experience, performance, and performance. Can we look at $65,000 for this position?”
25. Focus on Market Value – Instead of discussing the amount of salary you hope for, focus the conversation on what the market pays for your position. Reframe the compensation figure your negotiating partner uses, such as the percentage difference between what the market pays for your position and what the company pays you.
26. Prioritize your requests – This is part of your conversation. Put everything you’re looking for down there and prioritize it. In a negotiation, you might say that salary is the most important thing to you, followed by your job title, vacation time, bonus, and signing a contract. Research by Professor Adam Grant shows that prioritizing your negotiations is an effective way to help your counterpart understand your interests without over-explaining them. Then, you can ask them to share their priorities, looking for opportunities for mutual benefit.
27. But don’t talk about personal needs – Don’t focus on personal needs, like the fact that your rent is going up or that your kids are starting school. Chances are, everyone else is in the same situation as you, and that means making the same comparison that if your pay increases, then your total pay should go up, and if it doesn’t, then it shouldn’t go up. You should make a better case to your boss that you’re more valuable when you focus on your performance and accomplishments.
28. Ask for recommendations – After you’ve sold yourself on your credentials, talk about your value. Start with, “I trust you and I highly value your advice. What advice would you give me?” This indirectly flatters your negotiating partner. You’re giving him a chance to see your point of view and persuade him to back up your request.
29. Use Email When Appropriate – Most negotiations take place in person or over the phone, but if your communication or hiring takes place over email, make sure you stick to a good script. Try to inject empathy, have pleasant conversations, and add as much generosity into your messages as possible.
30. Don’t forget to listen – Listening to the other person during a negotiation is just as important as asking questions or arguing. Paying attention to what the other person is saying will help you understand their needs and find a solution that both of you will be happy with.
31. Don’t be afraid of the word “no” – You may be afraid of rejection, but the negotiation doesn’t really start until someone says “no.” Negotiation isn’t really about asking for what the other person wants, it’s about having a conversation with the goal of reaching an agreement that the other person doesn’t share your interests with. So understand that “no” is just part of the process, not a statement of what the outcome of your negotiation will be.
Response to the Answer [Questions 32-37]
32. Use delay to your advantage – When you hear the other person’s first offer, don’t say “okay,” say “hmm.” Give yourself a split second of silence. The other person is likely to sway you to their point, so delay to consider the benefits and goals you have set.
33. Ask questions – If your negotiation partner flinches or reacts negatively to a number you’ve pinpointed, don’t let that deter you. Instead, ask open-ended questions to keep the conversation going and show that you’re willing to work with him, such as, “You sound surprised. Can you explain that to me more?” “What’s the compensation budget for this position based on?” or “How can I help you move in my direction more?”
34. Don’t be afraid to respond – If you negotiate a higher salary and the employer rejects it, it doesn’t mean the negotiation is over. Instead, say something like, “I understand where you’re at, but I just wanted to reiterate my enthusiasm for the position and working with you and the team. I think my skills are a great fit for the position and are worth $65,000.”
35. Don’t threaten – Reiterate that you want to work here or continue working for this organization with this person. So it’s important to keep the conversation positive. No matter which way the conversation goes, never threaten to leave if you don’t get a raise.
36. Consider alternatives – If your boss isn’t willing to move or respond in the direction you really want, try negotiating for flexible time. This could be more vacation time, a better position, or additional projects and assignments.
37. Keep negotiating – Negotiation is a very complex process. There are many books on techniques and strategies to make your negotiations successful. The more you do it, the easier it will be to negotiate.
Conclusion
“It’s time to step out and start your negotiations.”
Salary negotiations are no longer something to worry about. Try applying these 37 methods to make your next negotiation a success that meets your needs.
Reference:
How to Negotiate Salary: 37 Tips You Need to Know
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