Salary negotiations are not for the faint of heart. You won’t be able to live with it afterwards if you undercut yourself, but at the same time, the last thing you want to do is offend your new employer.
How do you strike that balance and emerge from negotiations with everyone satisfied and ready to go to work?
Go In Prepared
Before negotiating a salary, gather information – both on your potential employer and on your own skill-set.
- Know what the company has been paying for the position, and what competitors are paying for it.
- Honestly evaluate whether your particular skill-set is in hot demand, or dying down.
Analyze and see what you’re worth in the market before your start volleying back and forth for a final figure.
Fake It Till You Make It
As you discuss salary with your new employer, the person with the greatest negotiation power is the one who appears to have the ability to walk away from the deal.
If you feel like your confidence has abandoned you, fake it till you make it. Practice ahead of time. Eventually, you’ll grow into your own power without sacrificing what you want to get out of the process.
- Don’t let your voice rise so you sound uncertain. Make sure your responses are definitive statements, with no hint of being on the fence about what you’re being offered. This destroys any possibility of projecting authority on your part.
Timing is Everything
When discussing salary, the timing of your response is critical. Once a proposal has been laid out, you need to give it careful consideration and then put your best negotiating foot forward.
- Don’t apologize. Negotiate as a winner. Stay away from verbiage such as “I’m sorry, but I feel I deserve more.” You’ll never get your dream compensation package if you negotiate with less than a first-place finish attitude. Not cocky by any means, but confident.
Silence is Golden
One single word can throw away thousands of dollars in wages and benefits – and that word is “okay.” Blurting it out to the first offer you receive can leave significant money on the table. Instead, consider using a different four-letter word, which although it may buy only 30 seconds of silence, can amp up the pressure on an employer to raise their offer.
That word is “hmmm.”
All you need to is shut up. It may be a little bit difficult, but it’s doable. And it works in situations ranging from buying a new SUV to bargaining at the local flea market – to salary negotiations.
- Don’t agree to the first offer. Your prospective employer expects you to negotiate. And, they have more authority than the initial offer made.
Make It a Win-Win
Your new company doesn’t want to waste money by overpaying you, and you never want to work anywhere where you’re being underpaid. There is a happy medium – and you can get there.
- Don’t mention a figure. Even if the interviewer is persistent, simply pause, buy some time and if necessary, answer in the affirmative; for instance, “I will accept your best offer,” versus naming an amount. This drives the employer to offer their best package – and you get an edge to deal according to your individual needs.
Working with a professional career coach can be a valuable asset in all areas of your career path process, including salary negotiations. To learn more, contact the expert team at Alternative Staffing today.