The Do’s And Don’ts Of Salary Negotiation

Negotiating your salary is a huge career step. Rather you are just starting a job or aiming for a salary increase, negotiating your salary not only determines how much money you make but also the impression you make on your boss. It is a delicate situation that requires you to do some research and know what you are talking about. Here are some do’s and don’ts for salary negotiation.

Do’s

The first thing you should do is research your field to find the average salary people are making. Consider your job title, geographic area, and other factors. There are plenty of books and career websites that will tell you the average salary for your position. This is a good number to set as a baseline when negotiating your salary. Companies may be stringent in the current economic climate, but you should get paid what you deserve.

You should also consider how much experience you have. Someone with more experience is probably going to be able to command a higher salary. Often times, companies want to hire younger people because they are more affordable. If you are a person with minimal experience, you have to be prepared to make less than someone who has been doing the job for a long period of time.

Another do is to provide a supporting case. Discuss your ideas and tasks you have performed or plan to perform. If you are able to demonstrate the value you bring, a company may be inclined to offer you more money. If you are able to, read over a job description beforehand. Think of some things that go beyond that that will help justify you receiving a higher salary. You need to sell the company on the fact that you deserve the salary you want. They are not just going to give it to you.

Another thing to remember is that it is a negotiation. Set a minimum salary that is acceptable for you, but let the company make the initial offer. Do not be afraid to ask for more after that, but also be prepared to settle for less than the higher amount you wanted. Also, consider the overall compensation package, such as if bonuses are included as well as health benefits.

Don’ts

The biggest don’t is to lie about your salary history. Do not tell a prospective employer that you earned more money than you actually did. Along with this, do not lie about job functions you performed or skills you have. Whatever you tell a company you are able to do, you have to be prepared to back it up.

Another don’t is to go in to the negotiation with a high ego. Remember that several other people are interviewing for the job you want. If you come off as rude to the company, they are likely to not offer you the job at all. You want to be firm in the money you feel you deserve, but you also want to be respectful. Remember, you want to work for these people.

Don’t make a salary negotiation personal. That means that you should not tell your boss or the company that you need money to afford bills or to buy a house. That will not work on them. You should also stick to the professional reasons for why you deserve a better salary.

Lastly, don’t feel overeager or pressured. If you are offered a higher salary than expected, don’t be afraid to up the ante a little bit. At the same time, don’t let a company pressure you in to accepting a salary that is less than you deserve. Companies always have wiggle room, so don’t be afraid to make counter offers. Just remember to keep them reasonable.