How To Negotiate Salary – Step-By-Step Guide
Being under-paid can be harmful in many ways: You lack motivation to perform well, you lose interest in the job and most importantly, you become lifeless.
As a result, you run the high risk of losing your job.
To prevent all these occurrences, it’s crucial to stand your ground and fetch the salary you truly deserve.
Halt my dear warriors!
Before you march into the office of your boss, or to pick up your phone to talk to the HR as part of the interview process, read the tips given below.
It is important to prep before the showdown, right?
Without further ado, here we present How to negotiate salary like a pro!
Note: These 10 tips would help you if you are looking for a salary hike as part of your present job as well as if you are negotiating the salary as part of the interview process for a new job.
1.Do your research
Use Payscale and Glassdoor to educate yourself on the range of salaries people in the same post as you earn in different organizations. This will give you an accurate idea about the upper and lower limit of your market value.
Please note that the salaries vary depending on the country/ region you are located at.
Don’t wait till the performance review. Plan 3-4 months in advance.
By the time performance review comes, your employer is likely to have already planned the term ahead including the hikes or cut-backs in salaries.
And make it a habit of noting down all the great work you have done, the positive impact you have made for the business, the customers and all the kudos you got as and when those events occur. Don’t wait till the last moment, try to recall and end up forgetting all those points which might fetch you some bonuses and a good place in the management’s book.
And if you are preparing to negotiate as part of an interview for a new job, all these points remain same except the fact that you may need t tweak it slightly and try to showcase why you deserve a salary which you are asking for. You can focus on the changes, positive impacts which you can bring in if you were hired.
3. Ask 2 questions:
- Why do you need the hike
- Why do they need you?
For a strong argument, ask yourself if in the hired period you have shown commendable improvement, taken new responsibilities and made significant contribution to the organization’s growth. Include the results in your negotiation talk as well. This will help the employer understand why the negotiation you are proposing is absolutely reasonable.
4. Reflections and forecasts
Indicate what you’ve accomplished so far and what you can contribute in the future. This exercise will give your employer an overview of your role in the growth of the organization and also why they need you there.
5. Avoid personal necessities
Never ever cite your personal needs and difficulties as a reason for your negotiation. Revolve you negotiation talk solely around the salary not meeting your capabilities and potential.
6. Middle ground is a fail
When you negotiate, don’t choose the mid-range in the projected salaries you find. Pick the highest so as to persuade your employer to negotiate you down from the highest point to the expected number.
Let’s assume the salary you want is 32,000. The range which is displayed in one of the salary comparison websites is between 25,000 and 35,000. When you propose the expected salary don’t choose the mid-range which is 30,000. Go for 35,000 instead. Subsequently, if your employer finds it unsuitable, he/she will eventually try bringing it down to a number around your own expectations.
7. Avoid the ‘between’
While negotiating, don’t give the opposite party an “in-between” range, as in, “between 30,00 and 35,000. This method is a big blow as the employer will obviously go for the lower limit. Rather, present an exact number.
8. Ooze confidence
Sit up straight. Walk briskly. Always Smile. Don’t cross your arms across your chest as it sends signals that you’re vulnerable and under-confident. Be your usual confident-self.
9. Don’t sound pushy
Be professional and positive in your tone; sounding pushy will leave a bitter impression of you in your superiors. Adopting a medial tone will keep up your reputation even if the negotiation doesn’t return what you expect.
Prepare an agenda before you initiate the negotiation. Write down how you’ll i) begin ii) smoothly slip in the salary and iii) positively wrap up.
Here is an overview of a fictional negotiation.
- What have I done so far: Sir/Ma’am, for the past one year in this organization, I have immensely gained from a professional standpoint. This platform has enabled me to demonstrate my critical thinking skills and relationship-building skills which were evident in […..] and […..] respectively.
- What will I do: In future, I seek to bring potential growth to the organization through assiduous efforts in […..]
- What salary do I need: Having made these contributions and also possessing the potency to continue in the same streak, I believe a salary numbered at 35,500 would be more just.
- How am I going to wrap up: Understanding that maintaining a sound employee satisfaction is of utmost paramountcy to you, I put forth this proposal of hike in my salary.
You won’t regret doing this
The only thing that separates you from your dream salary is fear.
Don’t be scared.
Whether you win or lose, you are proving your employer that you have good negotiating skills which is a quality in demand in any organization.
You have got an efficient and reliable toolbox to negotiate! So, confidently go for it!
So did you like our How To Negotiate Salary tips?
What tips do you apply? Please share in the comments below
Looking for inspiration 🚀🚀 ? Check out 11 best inspirational books you should read now. You would love it!