Negotiating your salary can feel daunting, but it’s a crucial step in ensuring you’re compensated fairly for your skills and contributions. Whether you’re starting a new position or looking for a raise at your current one, it’s worth knowing a few effective negotiation strategies before you throw yourself into the deep end. We’re covering six tips to help make the process a little easier on you.
Do Your Research First
Knowledge is power—and what you want in any negotiation is knowledge. Research salary ranges for your position. Don’t just look at your industry, either; see if there’s any correlation between what your position is typically paid for based on your location. This all provides valuable insight into what you can expect in terms of conversation or even potential pushback during your discussion.
Know Your Worth (Literally)
The monetary number is nice, but you should also ask yourself what unique skills, experiences, and accomplishments you bring to the table. Prepare a list of your contributions, such as successful projects or improvements you’ve made, to bolster your case during negotiations. The last thing you need in a salary negotiation is a lack of evidence as to why you should see an increase.
Practice the Pitch
Write out your pitch and practice it. Practice it in the mirror, to friends and loved ones, your cat—practice on whoever will listen to acclimate yourself to what you’ll say so you don’t get tongue-tied during negotiations. Focus on clear communication and maintaining a positive tone. And that extra boost of confidence can go a long way in terms of getting what you want.
Be Prepared To Make Compromises
Knowing what you want is great, and you shouldn’t take less than what you’re worth. But go into it knowing what compromises you’re willing to make and make them if it means you’ll get the rare win-win. Consider how additional benefits might play into the conversation; maybe your salary doesn’t go up as high as you’d like, but you’re willing to accept the trade of them giving you more paid time off. Ask yourself what you’re willing to budge on while holding fast to what you won’t.
Remember Timing Is Everything
Choose the right moment to initiate the conversation. Ideally, this should be after you’ve demonstrated your value or during performance reviews. Avoid negotiating during stressful times for your company. It’s not that there’s ever a bad time to talk about you getting what you deserve—it’s just that if you want the best chance at success, you’ll want to play your cards at the right time.
Follow Up To Confirm the Details
So you’ve finally done it—the hard part’s over. But you’re not quite done. Once you’ve reached an agreement, follow up with an email summarizing the discussion and confirming the details. This not only shows professionalism but also ensures that both parties are still on the same page. It’s also an excellent way to get any clarity or offer clarification is anything felt like it was lost in translation during or after the discussion.
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