10 Tips For Negotiating The Salary You Want
Let’s be real… The deciding factor of whether to take a job or not is definitely not the friendliness of your new boss or the size of the office you’ll be working in, but how much money you’ll be taking home at the end of the month…
Your salary determines the quality of your lifestyle, so when it comes to negotiating one, it is wise to come prepared.
Here are a few great tips to help you prepare for negotiating the salary you want and deserve, without making it awkward or selling yourself short:
1. Sell yourself
Don’t be shy to tell the interviewer of your previous experience and “expertise” and how that makes you the right person for the job.
2. Show off your past success
Don’t just brag about your past job titles or years of education, but tell the interviewer what you actually accomplished. For example, at your previous job you increased your department’s sales by 30% or developed and implemented a new management program that contributed to the company’s “bottom-line”. If you are fresh out of varsity and applying for your first job, tell the interviewer of your tertiary and sporting accomplishments or what you achieved in certain leadership roles.
3. Don’t be the first to mention “salary”
It’s very important to let the potential employer first mention the “salary”… Most employers will only start talking money once they are convinced you are suitable for the job. Wait for this moment, as it will then be much easier to negotiate a salary and the one you require at that.
4. Have a positive attitude
Make them want to employ you because of your infectious good attitude! It is a fact that people with great attitudes are better employees, contribute more and are an asset to any company. They will want to pay a bit more to keep you…
5. Don’t play on their emotions
The salary you will be offered will be based on the company’s budget and what you can contribute. Don’t bring your personal life into the negotiations, for example, your dog needs special medical care or you have just bought a new house that needs to be paid off…
6. Do your research about the position and know your worth
Before going to the interview, find out all you can about the role – what it will entail, what skills will be required, and what a market-related salary for this particular job is. Now match this up with your previous jobs, skills and salaries. This will give you a better bargaining position as you won’t overestimate your value or be “taken for a ride”…
7. Know the minimum salary you expect
Decide what the minimum amount would be that you are willing to work for. Also decide whether you would accept any benefits packages, i.e. medical, car allowance etc. should the company not be able to match your minimum requirement. Don’t be shy to “walk away” if what they are offering you is not acceptable. This might just convince them that it’s not worth losing you, and to reconsider their offer…
8. Handle negotiations calmly
Show your potential boss that you are able to handle uncomfortable situations with confidence and control and won’t throw a fit if things don’t go your way. Remember this job and salary are not forced on you and you will impress them more and negotiate a better salary if you just keep your cool.
9. Don’t necessarily turn down the first offer
A company may have a salary “cap” and that is why they can only offer you a certain salary. However, inquire whether there is room for growth or promotion opportunities or other benefits that may make the offer a lot more appealing and worth considering.
10. Expect the unexpected
Be prepared to answer those scary and unexpected questions relating to salary, for example “why are you asking so much, if you are not sufficiently qualified or experienced?” or “what makes you deserving of such a salary?” etc.
So hope these tips are useful! It is vital to take preparation for salary negotiations seriously, as it might just be the difference between driving a second hand Toyota Tazz and a shiny new BMW…