The following is a guest post by Cara Barone.
Image Credit: Salary.com
Every new job is a new opportunity. It’s an opportunity to face new challenges and meet new people, but it’s also an opportunity to negotiate a higher salary, new benefits, and other bonuses. However, salary negotiation can be a tricky business, and it can lead to hard feelings or even a lost job opportunity if not handled correctly.
Here are a few ways to ensure you approach your next salary negotiation in the proper manner:
Know Your Market Rate
Before you start asking for a raise or higher salary, you need to know what others in your field or in similar positions are making. Check out sites like Glassdoor or Salary.com to compare pay scales based on location, industry, and experience. It can be an important tactic to be able to compare your work with that of others in your field, but it’s important to know you may already be earning at the upper end of your pay range.
Resist the “Classic” Negotiation
Try to avoid the classic back-and-forth negotiation with proposals and counter offers. Go into your negotiation with a bottom-line salary you’d like to achieve and wait for an offer. By setting your acceptance conditions before negotiations start, you can act in good faith and not worry about being indecisive during your negotiations.
Know Your BATNA
As far as acronyms go, this is an important one. Before you start your negotiation for a better offer or raise, you should know your Best Alternative to a Negotiated Agreement (BATNA) — meaning you should figure out if you have a better alternative than an offered job at an offered salary. If you have another potential job with an equal interest, you may have more negotiating leverage if you negotiate carefully. Using a second job offer as a bargaining tool can be effective, but it comes with risks. Rather than using it just as leverage, frame it as a measure of your value on the open market.
Be Careful Not to Push Too Far
If an employer has offered you the job, you clearly have some strength to negotiate (and you can only negotiate your salary up until the point you accept the job), but be aware that the company will also have a BATNA, as well as a pool of other job finalists to get in touch with. That said, don’t be afraid to walk away from a job offer if it doesn’t meet your needs. It can be daunting to turn down a job, but only take a job that is right for you.
Remove Emotion From the Equation
Remember, any salary increase is essentially a business decision for an employer, and the bottom line is emotionless. Don’t be emotional or confrontational as you negotiate for your salary, as it can put both you and your employer in a tough situation. If you’re able to show your value in practical terms, emotion should not enter into the equation.
Rehearse Your Negotiation
You probably practiced your answers to interview questions, so your salary requests should be no different. We don’t talk about our work achievements often, so it’s important to choose your words carefully and to predict objections or questions. Role play the interview with your significant other or a close friend to make sure you can handle the conversation professionally and in a positive manner.
It’s Not Just About Salary
Even if a salary is said to be non-negotiable, many employers can be flexible with additional benefits or bonuses. Don’t be afraid to ask for additional paid time off, dress allowance, or other employee benefits. Additionally, paid time off can be a powerful bargaining chip, since your employer will still expect you to finish all of your work, but you can appreciate increased time to relax. Make sure to get any other perks or benefits in writing, and ask about future salary increases. Even if you don’t make what you’re looking for now, you can build an environment to achieve that goal once you’ve proven yourself to your employer.
Create Win-Win Situations
While you can certainly feel satisfied by a successful salary negotiation, your new employer should feel the same way. Try to avoid situations where your employer feels like they’ve lost, and don’t go into a negotiation expecting to walk away with everything you want. Set your expectations at a level at which both you and your new boss can walk away winners.
What other advice do you have for people looking to negotiate their salary or a pay raise? Share below!
About the Author:
Cara Barone is the manager of social media marketing at Kforce Staffing & Solutions where she manages Knowledge Employed, a career resources blog for first-time job hunters, seasoned employees and recruiters alike. Follow her on Twitter at @CaraBarone.
