Negotiations for a higher salary, ough! Makes anyone nervous. Sitting across from a hiring manager, heart racing, palms sweaty, trying to ask for a better pay without sounding greedy or entitled
Through years of experience, I discovered negotiating your salary is not primarily getting more money. It’s about getting a fair and equal compensation for the work you are going to do at the company. Truth is employers only care about you getting the job done, therefore no sentiments should be involved when it comes to you getting your worth
Why You Should Feel The Need To Negotiate a Higher Salary
Let me share something with you that made me go wild when I first learned it: Over $500,000 can be lost on your lifetime earnings if you fail to negotiate, to add salt to injury, when you accept a starting salary on the low side, every percentage-based raise and bonus afterward is based on that low salary. Compound interest would not side you on that.
It’s very easy for you to just be grateful to get a job and didn’t want to seem “difficult.”, especially when you are starting out your carry, but it’s you just leaving money on the table. HRs actually expect negotiation – it’s part of the process! They rarely offer their best number to you.
Preparation: Your Secret Weapon
You know what I’ve learned? The negotiation doesn’t start when you’re sitting in that chair – it starts way before. Here’s what I always do before any salary discussion:
Research, Research, Research
Think of this as your homework before the big test. I always tell my friends to:
- Check salary comparison websites like Glassdoor, Salary.com, and PayScale
- Talk to people in your industry (LinkedIn can be great for this)
- Look up the company’s salary ranges if they’re public
- Consider the cost of living in your area
- Factor in your experience level and unique skills
I recently helped a friend prepare for her negotiation, and we found out she was being offered 20% below market rate for her role. That knowledge gave her the confidence to negotiate – and guess what? She got a $15K increase from the initial offer!
The Right Time to Talk Numbers
Here’s a mistake I made early in my career: discussing salary too early in the process. Now I know better. The best time to talk discuss salary is when you have concluded they are very satisfied with you as a candidate, and wish to proceed.
If in the beginning of the process, you were asked about salary, Say something like: “I’d love to learn more about the role and responsibilities first, so I can better understand how my experience aligns with your needs. Would that be okay?” This shows you are not in a rush, and you care more about the job than the pay.
Negotiating: A Step-by-Step Approach
You did you due diligence, and the company is very satisfied with you, and now it’s time for the actual negotiation. Here is how you do it:
1. Receive the Offer With Enthusiasm
You might not always be happy with was give at first, but always show appreciation. It makes everyone comfortable and sets a positive tone for the rest of the negotiation, giving you a better play at negotiating an higher salary
2. Take Your Time
Never accept an offer on the spot, for any type of contract, because a job offer in all technicality is still a contract. Instead, take your time, think clearly and prepare your strategy for negotiation.
3. Come Back with a Well-Structured Request
After this, construct, a polite and interesting message on a counter offer.
Beyond the Base Salary: The Full Package
Salary isn’t everything! There’s so much more you can negotiate aside a higher salary. I always look at:
- Performance bonuses
- Stock options or equity
- Extra vacation days
- Flexible working hours
- Professional development budget
- Health benefits
- Remote work options
- Signing bonus
Sometimes, when a company can’t budge on salary, they’re more flexible with these other benefits. I once negotiated an extra week of vacation and a professional development budget when the base salary was fixed.
What If They Say No?
Let me tell you about a time I heard “no” – it wasn’t the end of the world! If they can’t meet your salary requirements, you have options:
- Ask about a performance review in 6 months instead of a year
- Get the rejection in writing and ask what would be needed to reach your target salary
- Negotiate other benefits to make up the difference
- Consider if the role offers other valuable opportunities for growth
Common Mistakes People Make
These are important, make sure you keep in mind
- Apologizing for asking for more money i.e better salary
- Practice your conversation before hand
- Focus on the value you bring to the company, not just your own needs
- Don’t accept an offer without negotiation
- Get the final agreement in writing
Final Thoughts: You’ve Got This!
Salary negotiation, really isn’t about the money – it’s about setting yourself up for long-term success. After going through this process multiple times it get’s easier, and each time it gets a little easier. Be prepared, professional, and confident in your self value.
Also, no matter how the negotiation goes, maintain your professionalism. There are situations I saw where a negotiation/interview did not go as expected, but the level of professionalism exhibited was made for further recommendations where they were later employed.
Keep in mind when negotiating salary, you’re negotiating for your career. So take a deep breath, do your research, and go get better salary, you are worth it. Bet Smart, Bet Smart.