When it comes to negotiating your salary, the biggest mistake you can make is to not negotiate at all. Many people avoid negotiation for fear of coming across as high maintenance or greedy, but it actually shows the opposite. Negotiation is an opportunity to display some of the most valuable characteristics employers look for in employees. If you were an employer, would you be more impressed with a candidate who accepts an offer right away? Or would you want to hire a confident candidate that goes the extra mile to ask for something better than what’s currently at hand?
Here are five steps to help you with your next salary negotiation:
- Mindset: Negotiation is not a competition to see who can “win.” It’s a conversation to find a compromise for both parties. Therefore, it’s important to not only be sensitive to your own wishes and limitations, but to those of the company and/or hiring manager as well.
- Decide on your number: Glassdoor is a great resource to help you figure out a reasonable target salary. Our database of salaries will allow you to see what the going rate is for your position in your industry. This information is an excellent way to provide credibility to how you arrived at your desired salary. And don’t forget to factor in the worth of your experience and skills!
- Know your BATNA: This is your “Best Alternative to a Negotiated Agreement”, or how you’ll measure the success of your negotiation, and know when to walk away if necessary. If you know your BATNA, you’ll be able to distinguish between an offer that is in your best interest, and an offer that is not in your best interest.
- Practice: “Winging it” is not an advisable strategy for negotiation. Outline all the points you want to propose in your negotiation and practice getting comfortable speaking about them. The more comfortable you feel, the more natural the conversation will flow. As you’re practicing, try to imagine what questions the person across the table may ask you so you can proactively incorporate the answers into your request.
- Starting the conversation: Before you begin negotiating, express your appreciation and gratitude for the offer. It’s a best practice to be thankful for what’s currently at hand before asking for more. An easy way to start your negotiation is to ask—a simple and direct manner is all you need. For example:
“Is the salary negotiable?”
“Is now a good time to discuss the details of my compensation package?”
“I’m interested in discussing the details of my compensation package. Who is the best person for me to have this conversation with?”
Now’s the time to turn your preparation into action and negotiate your salary with confidence! Start researching the salary range for your position on Glassdoor.