5 Expert Salary Negotiation Tips
Now that everyone is back from their summer excursions, job hunting season is in full swing. Whether you’re considering a new career, or just trying to get a salary bump in your current position, now’s the time to earn more and finally get your true value.
Although it might seem a little scary at first, we have some painless salary negotiation tips that can transform it into an exciting opportunity:
Your paycheck isn’t the only benefit on the table
One of the most overlooked salary negotiation tips is that your paycheck isn’t the only benefit an employer can offer. Everything from extra vacation days to a company gym membership are also extra perks that you can stretch for. And who couldn’t use more time at the beach or a better workout?
The best part: most of these perks are a lot more flexible and negotiable – according to The Muse Career Coach Melony Wilding, “It’s much more attractive for an employer to ‘throw in’ extra PTO days or a work-from-home option rather than boosting the salary offered.” If your potential employer is a little hesitant to tack on all the money you wanted, this is a great way to close the gap towards your true net worth.
Cold hard facts are hard to dispute. That’s why Glamour recommends getting scientific with your negotiations. There’s a vast sea of information online regarding what similar people are getting paid by industry, location, job title, and skills. So do your homework – be ready to drop figures left and right while justifying your raise or new salary.
Using this as one of the salary negotiation tips is a surefire way to gain power and confidence when asking for more.
Use very specific numbers
For starters, if you act wishy-washy about your desired salary, it will appear that you haven’t done your homework or that you aren’t exactly confident.
To take this a step further, science suggests a surprising solution: avoid round numbers. According to extensive studies by Columbia University, asking for very precise numbers (i.e. $45,500 versus $45,000) greatly increases your negotiating power and chances of getting a raise. If you can tie a specific number to a fact (like the average salary in your area), it will make you appear much more confident, and let the interviewer know that you really did your homework.
Wait for it…
Just like in poker, you don’t want to be the one to show your proverbial cards first when negotiating salary. As U.S. News put it, “Think about it this way, if the employer wants you to work at their company then you are in a much better position of power to negotiate.”
By staying mum about your requirements for as long as possible, you can wait for your employer to reveal how much they’re willing to offer (instead of being lowballed). For instance, rather than revealing your previous salary right off the bat, shift the conversation towards why your skills didn’t match your previous pay.
Don’t be afraid to get what your truly deserve
Most importantly, don’t make the mistake of settling for an offer that’s below your true self-worth. Although you don’t want to burn bridges, it’s perfectly acceptable to politely turn down any salary that’s not up to snuff, or to start looking elsewhere if you didn’t get a raise.
We’re often brighter and more valuable than we realize – and there’s plenty of other employer fish in the sea who will recognize your fantastic abilities.
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