#CareerAdvice : #SalaryNegoiations – A Step-by-Step Guide to #NegotiatingYourSalary …Negotiating your #Salary Doesn’t Have to Be Scary.
Bottom line, nothing should hold you back from negotiating for the salary you deserve. Instead of backing down at the next negotiation opportunity, follow these steps to navigate the dreaded salary discussion.
HOW TO NEGOTIATE SALARY AFTER A JOB OFFER
Step One: Do Your Research On Salary Standards
Before your first phone interview, do some research. Scour the web for company review websites (think Glassdoor.com) and look at comparable titles within the company. Then, look at the cross-market salaries of people similarly situated in the industry. Use salary research tools like The Salary Project™ to look at salary data across industries, job titles, and years of experience.
Keep in mind that location is often a major factor in salary. Big city roles can usually command higher salaries because the applicant pool and cost of living are generally much higher. Also note how unique the role is—is this a common position where many people do the same work? If so, there’s probably less salary wiggle room than, say, a specialized position.
Next, evaluate how far you moved the needle at your current job. Make a bulleted list of the things you’ve accomplished and compare those to your original job description. Have you exceeded expectations? If your results are tied to actual company revenue, have those hard numbers handy as well. This is where you’ll humbly explain how talented you are and how your track record proves it.
Not that experienced yet? Be sure you’re fairly assessing the work you’ve actually done instead of what you think you’re capable of doing someday. We know how tough a low salary can be, but keep in mind, you have the rest of your working life to hit your salary goal! Right now focus on hard work and learning.
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Step Two: State Your Salary Number
Stay cool. This is where men and women tend to differ. Men often give a distinct number based off of market research and self-evaluation. Women tend to give a wishy-washy version of what they’d settle for. If you’ve done your market research and you’ve taken the time to validate what you bring to the table, state your requirements in a concrete fashion, then explain why you feel this number is appropriate.
When the interviewer asks if this number is flexible, simply state you’d be able to reassess once you’ve seen the entire packaged offer. Keep in mind, your “package” could include anything from company equity, vacation days, and growth opportunities, to travel, bonuses, and even awesome office perks—free food anyone?
The younger you are in your career, the more I’d encourage you to consider career growth opportunities over money. Early on, choosing the place that is going to teach you the most will give you the opportunity to learn valuable skills, making you worth more in the future.
Step Three: Counter After the Job Offer
Feel free to counter for more money if they’ve come in lower than your original salary requirement. If they have no flexibility in cash resources, appeal for more vacation days, a signing bonus, more equity, or even a greater annual bonus.
Stay within reason—keep your counter proportionate to the initial offer. Remember back to when the recruiter asked where you wanted to be salary-wise? Your counter offer should fall within the ballpark range of their offer, so no one wastes the other’s time. Chances are you’ll land somewhere in the middle.
According to Linda Babcock, author of Women Don’t Ask, only 7 percent of women negotiate their salary while a staggering 57 men of men do. Those who did ask saw a 7 percent increase in compensation. So ask for more, ladies!
Once you reach an agreement, be sure to thoroughly review your offer letter, sign, and return it within 24 hours. And that’s it! You’ve successfully navigated through negotiating your compensation. Stand proud and let the real work begin.
HOW TO NEGOTIATE A RAISE (BEFORE OR AFTER A PROMOTION)
Step One: Be Proactive and Transparent About the Money
Be reasonable when negotiating salary by suggesting a number, then backing it up. In addition to recapping your latest and greatest projects, be sure to present research on what others in the industry are making and why you feel your work stacks up.
Once you’ve unearthed what a reasonable raise would look like, ask your boss what she’d like to see performance-wise to help you reach that mark. Let her know you’re willing to work for it.
Your salary is never a reflection of your need for more money. Rent, loans, and other bills are not the concern of your manager. Don’t assume you deserve a raise simply because you have bills to pay. Steer clear of making it personal.
Step Two: Work Hard First, Negotiate Salary Later
Don’t shy away. Take on more assignments and regularly ask your manager if there’s more you can be doing. Aim to make her life easier; resurrect important tasks that have fallen off her radar, and be proactive about getting her information she needs ahead of time.
Step Three: Network at Work
Follow these three steps and you’re on your way to receiving the raise you deserve come review time. The only thing left to do is persevere. Big salaries and lofty titles are the makings of serious staying power.