Mastering the art of salary negotiation is a crucial skill in today's competitive job market. With 37 insightful tips, you'll be equipped to navigate these discussions with confidence, ensuring your financial compensation matches your professional worth.
Plan the Right Timing
Most people wait until performance review season to ask for a salary adjustment, but by that time, your boss has probably already decided what raises will be doled out to the team.
But Don’t Mention Personal Needs
You make a much better case to your boss that you’re worth more when you focus on your performance and achievements
Prioritize Your Requests
Lay everything you’re looking for out on the table in rank order
- Ask them to share their priorities, and look for opportunities for mutually beneficial tradeoffs
- In a job offer negotiation, you might say that salary is most important, followed by location, then vacation time and signing bonus.
Show What You Can Do
Talk about what you’ve done and-more importantly-what you can do
- Include highlights of times when you’ve gone above and beyond in your role to build the case for a raise or promotion
- Think of something you’re excited to take on going forward
Use Email Where Appropriate
It ensures you stick to the script and can be a whole lot less scary.
Don’t Use a Range
Never use the word “between” when negotiating.
Think About the Other Person
Consider the other person’s thoughts and interests.
Stay Positive, Not Pushy
Negotiation may be scary, but you should always keep the conversation on a positive note
Don’t Be Afraid to Counter
If you ask for a higher salary and the employer says no, try this instead: “I understand where you’re coming from, and just want to reiterate my enthusiasm for the position and working with you and the team. I think my skills are perfectly suited for this position.”
Power Up
Before you go into the negotiation, try Amy Cuddy’s tip of doing a “power pose”—in other words, going into the bathroom and standing tall with your hands on your hips, your chin and chest raised proud, and your feet firm on the ground. Doing so raises testosterone, which influences confidence and reduces the stress hormone cortisol.
Be Kind But Firm
Negotiating for a new job? Here’s a great script to try: “I’m really excited to work here, and I know that I will bring a lot of value. I appreciate the offer at $58,000, but was really expecting to be in the $65,000 range based on my experience.”
Ask for More Than What You Want
Always ask for more than you actually want.
Walk in With Confidence
The way you enter a room can dictate how the rest of an interaction will be.
Talk to Recruiters
They know what people with your experience and expertise are worth. Use it to your advantage!
- The next time one reaches out to you, engage in a conversation about the position’s responsibilities and pay. You may not get a specific number, but a range is helpful.
Make Sure You’re Ready
Ask yourself a few questions before asking for a raise: have you been at your job for a year, have you taken on new responsibilities since you’ve been hired?
Try Thinking About Someone Else
People tend to do better when they negotiate for someone else
- Think about how what you’re asking for will impact those around you
- If you are happier with your position and compensation, you are more likely to work hard and be successful
Be Willing to Walk Away
Come up with a “walk away point” – a final offer that you have to turn it down
Keep Negotiating
Negotiation is a complicated process with lots of books on techniques, tactics, and scripts. The more you do it, the easier it becomes.
- The more money you’ll bring home, the more you’ll be able to spend on other things.
Put Your Number Out First
The anchor is the first number put on the table and is the basis of the rest of the conversation.
Prepare a One-Sheet
a.k.a. a “brag sheet”
- that shows how awesome you are as an employee and includes accomplishments, awards, and customer or co-worker testimonials
- This will demonstrate your value to your boss.
Focus on the future, not the past
Give your current number (including benefits, bonuses) and then quickly move the conversation along to explain the number you are looking for, focusing on explaining your new skills or responsibilities, your market value, and how you’re looking to grow.
Focus on Market Value
Instead of discussing a raise or new salary based on what you make now, keep the conversation focused on what the market is paying for people like you (your “market value”).
But Don’t Make Threats
You ideally want to work (or keep working) with this person, so it’s important to keep the conversation positive
- Whatever you do, don’t threaten to leave if you don’t get the raise
- Also, you shouldn’t threaten your boss with other job offers, interviews, or recruiter conversations
Know the (Exact) Number
You should ask for a very specific number-say, $64,750 rather than $65,000.
- When employees use a more precise number in their initial negotiation request, they are more likely to get a final offer closer to what they were hoping for.
Ask for Advice
After selling your benefits, talk about your value, and make your ask, Grant recommends asking, “I trust you, and I’d very much value your recommendations. What would you suggest?”
Ask Questions
Ask open-ended questions to keep the conversation moving and show you’re willing to work together
Know Your Value
If you’re going to get the pay you deserve, know the going rate for your position in your specific industry and in your geographic area.
- You can do this by doing an online search on sites such as Payscale or Glassdoor, or by asking others in your field
Salary negotiation can be scary
Only 37% of people always negotiate their salaries while an astonishing 18% never do
- 44% of respondents never bring up the subject of a raise during performance reviews
- The biggest reason for not asking for more? Fear
- A famous study done by Linda Babcock for her book Women Don’t Ask revealed that only about 7% of women attempted to negotiate their first salary while 57% of men did
- Of those people who negotiated, they were able to increase their salary by over 7%.
Set the Meeting for Thursday
Thursdays and Fridays find us most open to negotiation and compromise because we want to finish our work before the week is out
Don’t Fear the “No”
Negotiation is a conversation whose goal is to reach an agreement with someone whose interests are not perfectly aligned with yours.
Start With Questions
Ask diagnostic questions to understand more about the other party’s true needs, desires, fears, preferences, and priorities
- 93% of all negotiators fail to ask these questions
- “What are your biggest priorities right now?” can help you understand where your negotiation partner is coming from and offer up solutions that will help
Don’t Forget to Listen
Listen to the other party
Pick the Top of the Range
It can be tempting to ask for a salary in the middle of the range, but instead you should ask for something toward the top.
- Your employer will almost certainly negotiate down, so you need wiggle room to still end up with a salary you’re pleased with.
