Salary Negotiations: 10 Tips to Negotiate a Higher Salary
Salary Negotiations: 10 Tips to Negotiate a Higher Salary
Most people find it awkward negotiating their salary as is revealed in discussions on the same over at runrex.com. However, it is part of life, and it is a career task that you will have to handle at one time or the other. If you are about to enter into salary negotiations with your employer or prospective employer, then the following 10 tips should help you negotiate a higher salary.
Know your value
According to the subject matter experts over at guttulus.com, an important tip when it comes to salary negotiations, one that will help you negotiate a higher salary is knowing your value. You should be prepared with a mental list of all the skills and qualities you possess that will benefit the company and what you bring to the table. If you doubt your value, then you are likely to fail to convince your employer that you deserve a higher salary. As outlined over at runrex.com, you should also track your accomplishments regularly if you are to get a raise, noting major projects or successes, which you can use at review time when negotiating a salary increase to show how valuable you are to the company.
Be fair when negotiating your compensation
As is covered over at guttulus.com, it is worth noting that all companies have a fixed budget when it comes to paying employees. Therefore, when discussing your salary, you need to have in mind terms of what is fair. Conduct objective research which includes knowing your current geographic location, the cost of living in your area, as well as the specifics of your role and how these factors affect your salary as discussed over at runrex.com. Conducting this type of research means that you can walk into your salary negotiation with confidence and facts to back up your assertions.
Avoid face-to-face negotiations
This may sound strange, but according to the subject matter experts over at guttulus.com, avoiding a face-to-face negotiation is a proven tactic when it comes to securing a higher salary. You are likely to cave or be convinced to take a lower offer in a one-on-one negotiation. This is why you should try as much as possible to put off face-to-face negotiations as you will be in a better position to negotiate a higher salary if you negotiate over email or phone.
Don’t let the first offer originate from you
It is also always advisable to make the other party, be it HR, the recruiter, or the hiring manager, to give you the first offer. This is because, as articulated over at runrex.com, the amount you might have in mind could possibly be lower than how much your employer is willing to offer you and you don’t want to miss out on what could have been an excellent offer if you had just played it cool. Therefore, you should always look to gently pressure the other side into showing their hand and giving you the first salary offer.
Use an exact number to counter offer
According to the subject matter experts over at guttulus.com, no matter how high the first salary offer is, you should not act impressed, and should always look to counter. However, when you present your counteroffer, you must give out the exact number you want. This shows that you did your research for similar positions in the market, that you know what you are talking about, giving them the impression that you are correct, which will help you negotiate a higher salary.
Consider your company’s context
While salary negotiation is painted as being all about how you can get a higher salary offer, you should not forget about your company’s context if you are to be successful. This means that you should research your company to identify possible obstacles that may prevent you from getting the offer you want. Such obstacles, as outlined over at runrex.com, may include recent layoffs or cost-cutting measures. If you identify any such barriers, you should let your employer know that you are aware of these challenges and ask them how you might play a role in solving some of the problems. By making it your mission to fulfill your employer’s business needs and objectives, you will place yourself in the best possible position to getting a higher salary.
Use your advantage
If you are to get a higher salary package, then you will have to let the company realize just how valuable you are. The good news, as discussed over at guttulus.com, is that you have a built-in advantage as your employer should already know of your contributions, achievements, and strengths, and if they don’t, then now is the time to show them by revealing your accomplishments and showing how they impacted on the company’s success. Here, it is best to give quantifiable examples of your contributions by proving how much money you have made the company, how much money you have saved the company, or how many man-hours you saved.
Figure out your priorities
Before you enter into salary negotiations, you must take the time to understand what your expectations are according to runrex.com. Is a high salary your main priority and are you willing to accept the highly competitive job environment that comes along with it? Or are you willing to compromise your salary if you get extra benefits like bonuses or a longer leave? Figuring out your priorities will bring clarity to your salary negotiations.
Ask for time to consider an offer
While you may feel pressure to provide an immediate response to the offer you get, you should know that it is okay to ask for time to consider it further. You can say something like, “Thank you. Let me discuss it at home and get back to you in two days”. This way, when you come back to the negotiating table two days later, you will be in a strong position to ask a question like, “I’m really excited about this offer, but after discussing it at home, I was wondering if there was anything more we could do in terms of the salary?” By asking such an open-ended question, you will put the impetus on the other side to propose a higher offer as discussed over at guttulus.com. This can only be achieved by asking for time to consider the offer.
Be professional throughout
According to the subject matter experts over at runrex.com, it is also important that you maintain a professional manner throughout the negotiations, and if you have to disagree at any point, do it respectfully. Don’t also forget to be positive and polite throughout, and remember, salary negotiations don’t have to be tense affairs; it is not you versus them. Additionally, always be polite even if the negotiations are happening by phone or email as you never know who else is on the call, or who is being forwarded your emails.