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Finding out what you are worth requires research, self-reflection and networking. The salary negotiation is a tricky step for most job seekers. You don’t want to undercut yourself, but you also need to determine how far you can push without offending hiring managers.
Do your research – Know what you’re worth.
Go to PayScale or Vault and get as much data as you can on the current salary range.
Know your bottom line.
What is the minimum salary you would accept? Before investing too much time and energy on landing the job, figure out if your needs won’t be met by the salary offered.
Keep silent until the interview process is over.
The more the interviewer talks, the more you learn. You want them to do the talking, and you want them to make the first offer.
Don’t hold back.
Ask away. As in any negotiation, if you don’t ask for something, you won’t get it. Come prepared to make plenty of proposals that involve more than pay, like extra vacation time.
Do ask for 15%-20% more than what you want.
The key to the negotiation is making sure your high number is higher than you want. his will give you room to negotiate and actually get the number you truly desire. Nothing to lose!
Brush up on your negotiating skills with a friend.
Make a list of all of the possible scenarios for a negotiation to help you prepare proper responses.
Mock interviews, practice answers, and whatever other preparation you can do is critical because you will be better equipped to adapt during the interview.
The key is to adopt whatever strategy comes naturally to you.
Keep it professional, not personal
Whether it’s right or wrong, for a lot of people, money is knitted to self-worth. If that’s the case for you, be professional and unemotional during negotiations. This is often easier said than done.
Go For A Win-Win Negotiating Style.
Salary negotiations should be based on a win-win formula.
As an interviewee, you should know that companies usually start the salary negotiation from a little lower than half the amount of the salary assigned to the prospective employee’s position. Many companies follow this trend to determine salaries for positions, especially in the higher level or for positions that are not advertised.
Get Another Offer.
If you want a higher salary, then there isn’t a better way to get another offer than with higher pay at another job.
vLet the company bring up the salary negotiation issue.
Avoid being the first to propose a salary figure. Tell them you’re interested in a mutually rewarding career with the company and you’re sure you can agree on an acceptable compensation package. If you’re backed into a corner, introduce your salary range, but make it clear that it is “up for discussion.”
Ask for more than you want.
Negotiation typically involves a back-and forth discussion. Leave yourself enough wiggle room between what you ask for and what you want so that you can make some concessions and still achieve your target.
Have a valid reason for asking for more.
While your true reasons for wanting more pay are personal, the company isn’t going to see its way to give you a bump in the salary unless you can show them why it’s in their best interest.
Get every commitment in writing.
Request an accepted offer in writing. Companies refusing to do so are unprofessional. Consider preparing a written counteroffer since your requests will be listed.
Be calm and confident.
Negotiations can be confronting so the way in which you communicate with your future employer at this time is paramount. Remain calm, professional and in control and don’t let the pressure get to you.
Be Prepared for a No.
If salary is not negotiable, try to work in perks or better benefits.Things that seem small to a company, like vacation days, profit sharing and tuition reimbursement, are a big deal to the employee.
Ultimately, there is no way you can guarantee success. If you do fail to get your pay increase, the worst thing you can do is fly off the handle. Brace yourself for the possibility of a “no,” accept your defeat, and decide what your next steps will be.
Don’t threaten to walk away unless you mean it. Negotiation does not have to include an ultimatum. If you really can’t come to agreement you might need to let the role go.
Precise numbers are just one way to communicate to people, ‘don’t mess with me – Malia Mason
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What are your negotiation battle stories?