Whether starting a new job or asking for a promotion, talking about your salary and trying to negotiate can be quite scary. Using these quick tips can ease your fears and help you feel quite prepared the next time you need to do it.
Below are tips to help better negotiate a salary:
Do Research: It is important to do your research on industry salary trends. The national and local market information is your best asset when negotiating a salary. With this information you will also want to consider skills and experience level. As this may be the market average salary, they may not have additional skills, education and experience that you have.
Talk with Recruiters: This is a great resource to use when you are doing your research. Recruiters are well versed in knowing the market and they know what people are worth with their experience and expertise.
Give a Range: As you are doing research, you most likely will confirm a range in salary. Many times, people will assume they should go with the middle number. That isn’t the case here. You will want to start at the top as your employer will most likely negotiate down and you will want to have some wiggle room when that does happen.
Benefits: When you are looking at your range in salary, don’t forget some employee benefits such as flexible hours, work-from home days, profit sharing, etc. You will want to consider what is valuable to you and if you are willing to go lower in salary to gain those benefits.
Timing: It will be important that you time this correctly. Sometimes, bringing it up during a performance evaluation isn’t always the best call as budgets are pre-approved before your performance and they have already budgeted your salary. However, sometimes it can be a good opportunity to talk about career paths and where you want to be. You will just need to feel it out. Plus, it depends on the company.
Practice, Practice, and More Practice: Like they always say, “Practice makes perfect!” This will be crucial for you to build confidence when its time. Write down what you want to say and record yourself and look at your facial expressions. What are your hands doing? Do you sound confident? This will help you be more comfortable when actually engaged in the conversation.
Get it Written Down: Once you and your manager have agreed on a salary don’t forget to get it in writing and have it signed by you and them. This will ensure everything is agreed upon and formally committed.
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