Mastering the Art of Salary Negotiation: 10 Proven Tips

The Ultimate Guide to Salary Negotiation

Negotiating your salary is both an art and a science. If you want to achieve your financial goals, climb the corporate ladder, and remain satisfied in your work, you need to master this art. If your salary isn’t where you want it to be, follow these tips on salary negotiation.

1. Do Your Research

Before you ever even step foot in a negotiation, you need to have information. You need to know industry standards and the money that other companies are offering for similar positions so you can make an informed argument. Use GlassDoor or Payscale and network on websites like LinkedIn.

2. Focus on Your Accomplishments

The value of an employee often comes down to how much money they can earn or save the company. In your salary negotiations, focus on statistics and the profits you have brought in or tasks you have accomplished. A raise for someone who has not proven to the company they’re worthy of one is very unlikely.

3. Prepare Two Numbers

As much as everyone wishes they ended up getting the number they proposed, reality isn’t always so kind. When going into salary negotiations, prepare two numbers, an acceptable salary slightly higher than your current salary and an ending number (what you would love). Prepare yourself on negotiation techniques and keep them in mind during the discussions.

4. Timing is Important

Timing is everything. Carefully plan when it makes sense to discuss a rise in pay after achieving strong financial outcomes. End-of-year review times can be good, as bosses are usually planning budgets for the coming year.

5. Use Objective Criteria

Your salary should realistically reflect your accomplishments and what you’re worth to the company — that’s what matters most almost always. Instead of making the discussion personal, a reliable way of discussing salary could be measured by metrics that are objective standards such as raises co-workers who hold your same position got.

6. Come Prepared

Successful negotiation is much less about talent than it is about being well prepared. During an interview, take along data directly from Glassdoor. Mentally prepare your best case on your explanation of your accomplishments that showcase why you’re the perfect candidate for earning the economic compensation you want.

7. Never Lie

Never exaggerate while discussing salaries. You do not want a foundation to start with subsisting on deception. If hired on this note, lying can come back to expose misstep increases. Being transparent can give you a long-term pay-high response from your employers.

8. Sell Yourself as Investment – Not an Expense

Rather than position salary proposals as an “expense” on your company’s part, emphasize how your skills income gives the organization conversion value but beyond that, emphasizes the growth and future earnings that come as a package deal with quality high-performing outcomes.

9. Identify a Number that Satisfies Both Parties

There are factors that employers prioritize in relation to valuing what potential performance plays out in their productivity. Sometimes, despite much celebrating from a successful interview, the question of future income can seem like a non-starter, particularly if each person fails to come at a definite number satisfactory by both toward the end.

10. Be Ready to Walk Away

In every negotiation, it’s important to understand what you’re holding onto — and when it is time to fold. If an employer wants to negotiate a response that doesn’t speak to your expertise or worth –or even your dignity — you’re never required to remain there. It is often an idea in demand fields or markets to consider the possibilities that come with the possibility of walking away.

Salary Negotiation Mastery Takeaway

Knowing how to negotiate and sometimes being successful when bargaining are vital abilities everyone wants. When handled correctly, negotiations give parties value and opportunities they wouldn’t previously have considered as likely. Whether you’re negotiating a raise yearly or at a new job, consider these tips to earn more!