You’ve spent hours filling out job applications and sharpening your interview skills. After multiple rounds of interviews, you finally receive a call or email with a promising job offer. Reviewing the details, you wonder, “How can I negotiate salary?”
If the thought of negotiating your salary fills you with dread, you’re not alone. Even the most experienced business people can feel nervous or awkward about asking for higher pay. However, salary negotiation is an expected part of the hiring process.
According to the Pew Research Center, 66% of professionals who negotiate successfully secure a salary increase.1 This article covers seven essential salary negotiation tips after getting a job offer to help you get the compensation you deserve.
1. Prepare Before Your Salary Negotiation
As a job candidate, you may ask, “How do salary negotiations work?” Doing your market research beforehand will help you present the strongest case for your desired salary to your potential employer.
Investigate industry standards for salaries specific to your role and geographic area. Platforms like Glassdoor and ZipRecruiter gather salary data from employees and job postings. These websites can help you benchmark the employer's offer against industry averages and prepare a solid counteroffer.
Say, for instance, the hiring manager at a bank offers you an entry-level financial analyst job for $80,000, but Glassdoor shows that the pay range for similar positions in your area is typically between $95,000 and $110,000. You can use this data to negotiate a more competitive salary.
Of course, it’s also important to assess your value in the job market. Have you earned an online Master of Business Administration or relevant certifications? Have you gained in-demand skills like data analysis, machine learning, and project management? These qualifications can strengthen your negotiation position and help you justify a higher salary.
Finally, consider the entire compensation package. Some employers won’t budge on base salaries but may offer a signing bonus, help with moving expenses, or more flexible benefits. For example, you could negotiate to work remotely or request additional vacation days. These perks can improve your overall quality of life, even if they don’t directly affect your paycheck.
2. Choose the Right Time and Setting to Negotiate Salary
You may feel tempted to start negotiating when you receive a job offer but resist the urge. Instead, you must express enthusiasm for the role and tell the employer you’ll respond to their offer in a day or two. This approach allows you to process the offer and develop your negotiation strategy.
Once you’re ready to negotiate, consider the best medium. Some professionals prefer to negotiate over the phone, allowing for a more authentic and personal conversation.
Email is another popular avenue for salary negotiating. This approach lets you carefully create your message and provide supporting evidence without worrying about an immediate response. It also gives the employer time to consider your request thoughtfully.
3. Communicate Effectively
Communication is key during the negotiation process. Expressing your request carefully and respectfully will increase your chances of success.
Practice your pitch before you approach your potential employer. Ask a trusted mentor or friend to read your negotiation email or listen to your request over the phone. They can provide feedback about your language, tone, and other aspects of your pitch.
You can also rehearse how you’ll respond to potential questions or objections. For example, your roleplay partner could pretend to reject your request for a potential salary. In this scenario, you could practice delivering a convincing argument that reiterates your unique skills or pivot to negotiating for other perks, such as a hybrid work arrangement. This preparation helps you think on your feet and allows you to deliver your request confidently.
Always keep the conversation positive and remain composed, no matter how the employer responds. A respectful attitude will help build rapport and leave a favorable impression, even if you don’t achieve your ideal outcome. Handling negotiations gracefully can also open the door for future opportunities if the employer remembers your professionalism.
4. Present Your Case for a Higher Salary Convincingly
Just saying, “I need more money, please,” probably won’t get you very far with an employer. After all, they would have already offered you a higher salary if they were willing to go that route. Instead, you must back up your request with compelling evidence and reasons.
Highlight relevant accomplishments and unique professional skills that distinguish you from other applicants. For example, you may have successfully managed complex projects or received an award for setting a new sales record. These achievements demonstrate your achievements and show how you can make an impact in your new role.
Use specific examples and data to back up these highlights. “I increased sales by 20% in three months” will sound much more convincing than simply stating, “I make a lot of sales.”
5. Use Proven Strategies in Salary Negotiations
Research and apply effective strategies for negotiating salary, such as:2
- Be confident, not aggressive or timid
- Don’t get emotional
- Never give ultimatums
- Have a minimum salary in mind
You can also use silence strategically by allowing the employer to fill the gaps after you present your requests.
6. Deal With Counteroffers Confidently
Some employers may immediately grant your request, but others make counteroffers. Weigh their response carefully and consider asking for additional benefits to increase the value of your compensation package if they offer a lower base salary.
Be prepared to walk away gracefully if the employer can’t meet your target salary. Remember: It’s often better to wait for the next job than to give in to self-doubt and accept a position that will make you feel unhappy or undervalued.
7. Finalize the Deal
Ideally, you and the employer will conclude the salary negotiation with a mutually beneficial agreement. Get all offers in writing before you accept the job to ensure everyone is on the same page. Finally, end the salary conversation positively by reiterating your enthusiasm and gratitude for the role.
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- Retrieved on October 8, 2024, from pewresearch.org/short-reads/2023/04/05/when-negotiating-starting-salaries-most-us-women-and-men-dont-ask-for-higher-pay/
- Retrieved on October 8, 2024, from dol.ny.gov/salary-negotiation-guide