Negotiating Salary - When and How To Do It
Negotiating a salary is not a comfortable concept for everyone. Author Jennifer Barret describes the importance of salary negotiations in her book Think Like a Breadwinner, citing the moment it hit her that colleagues were making double what she was at one point in her career because they had negotiated their salary, and she had not. If negotiating salary is a new concept to you, here are a few quick tips to get you started.
Understand Your Value
In order to know if you are being offered a fair salary, you must understand your own value. This will take some research on your part. You need to know the fair price for your services. You must also factor in any additional skills and training you may have which bring added value. In addition to this, you will also want to bring to the table with you the quantified information of how you have brought value to the company or to other companies you have worked for. This means you need to gather the numbers of how your skills, your time, and your knowledge produced real change in profit or numbers.
Start At The Top
After you have done your research you will have a range of salary for your particular position and skills. When you go to the table to negotiate, start at the top of that range. It is very tempting to start in the middle, but the thing is if you start in the middle there is very little chance that you will be offered something over that. That isn't how negotiating works. You have a good chance of landing where you start the negotiations.
Establish a Walk Away Point
This is a number you will have in mind which is your absolute walk-out number. This means that if the employer wants to go that low, you simply say no thank you. If you truly want to negotiate you must have this number in mind, and you must commit to walking away. It will be difficult, but it will be worth it in the long run.