Paul Watson
The salary negotiation process is not for the faint of heart. It’s often nerve-wracking, but it is a necessary step to secure the salary and compensation package you deserve.
The first step in the negotiation process is to know your own value. This means researching the salary data for your job title and location. Having this information will give you the confidence to assertively ask for what you want in the negotiation and provide the supporting evidence needed to make a strong case. You may also benefit from speaking to other professionals in your field or browsing similar jobs online for guidance.
Once you have a solid understanding of your value, it’s time to set your target number. This should be an amount that you feel is a fair reflection of your skills and experience. You should also consider perks, such as a flexible schedule or additional vacation days. According to the Robert Half blog, if the salary offered is well below your BATNA (Best Alternative To a Negotiated Agreement), it may not be worth negotiating.
A good strategy for determining your target salary is to start with the average salary for the role, and then build a case for why you deserve more. Be sure to include your accomplishments and how you’ve impacted the company’s bottom line. It’s also important to communicate the benefits of a higher salary, such as a reduced commute or more financial freedom.
It is not uncommon to encounter resistance from the hiring manager when asking for a raise, especially in larger organizations with structured salary structures. If this is the case, it’s helpful to approach your boss with a proposal rather than a demand. It’s also a great idea to practice your negotiation with a friend or co-worker before going into the actual meeting. Studies show that mock negotiations can improve your confidence, negotiation tactics, and conflict management strategies.
During the conversation, it’s important to remain calm and confident throughout the process. If at any point you feel uncomfortable, it’s okay to take a break and revisit the issue later. Ultimately, the most important thing is to remain focused on your goals and stick to your target.
After presenting your number, the interviewer will likely negotiate down from there. It’s a common negotiation tactic, but you should not be afraid to defend your position. If you find yourself being pushed off your target by the interviewer, be sure to ask why they are rejecting your offer. It could be a sign that they are not serious about the position or are unwilling to invest in you.
Finally, be prepared for the worst-case scenario when negotiating your salary. The interviewer may tell you they can’t afford to meet your target, or may offer a counteroffer that is still below the range you were hoping for. In this situation, it is important to have a walk away point that you are willing to accept, such as a salary that meets your financial needs or market value.
