5 TIPS FOR NEGOTIATING YOUR SALARY
ASKING FOR A RAISE IS NEVER AN EASY TASK, BUT THERE ARE STEPS YOU CAN TAKE TO MAKE IT MORE LIKELY YOU’LL BE SUCCESSFUL
1 Know your value
Arm yourself with data on the average salary for your kind of work. The more research you do, the better, both from salary surveys and word of mouth. Don’t be squeamish: hit up friends, colleagues and other contacts, and get them to dish the dirt on what they, and others they know, are paid.
2 Demonstrate your worth
Think carefully about the skills, knowledge and experiences that could make you a valuable employee. Write these down so you can reel them off at a moment’s notice. You may not actually need them, but just having them there will give you the sense of confidence you need for salary negotiation.
3 Decide what you want
Before the negotiation, decide on your bottom line – the figure below which you’ll turn down the job. Again, write down the reasons why you can’t accept any less. Rehearse making this case, and walking away with confidence, with a friend or colleague in advance. This will make you less likely to lose your bottle when it comes to the big day.
4 Show empathy
Salary negotiations aren’t really about you want, but what will benefit the company. So every time you make an argument for being paid more – a special skillset, relevant experience – cast it in terms of how this will benefit your employer and, in the long run, their own bottom line.
5 Consider the whole package
Remember that it’s not just about the final figure but the whole package. So if you think it’ll help you cut a deal, ask about preferential share schemes, health benefits, possibilities for overtime, opportunities to swiftly ascend the ranks, or other perks that might help persuade you to accept a lower salary offer than you were intending.