You have more bargaining power than you think when negotiating a higher starting salary. The key is understanding and taking advantage of the employer’s negotiation salary range. Use the following salary negotiation tips to hammer out the best pay package for you.
- Understand that negotiation involves three key elements.
The more you understand what is involved in a negotiation, the better equipped you can be to be successful as you exhibit strong salary negotiation skills. Negotiation involves three elements. (1) Information: Employers appear to be in a place of strength because they have more information about what a position is worth and how much they are willing to pay. (2) Time: In most cases, employers are not constrained by time; they can take as much time as they need in the hiring process whereas many employees need a job now. (3) Power: Employers seem to be the ones with the power. While they do ultimately make the decision on whether or not to hire you, you don’t need to give them additional power in the negotiation process. Learn how you can put yourself in a position of strength when negotiating for a salary by implementing the proven negotiation strategies in “Get Paid What You’re Worth.”
- Do realize that your salary is negotiable?
Did you know that about 90% of all human resources professionals expect you to negotiate? Knowing that the employer expects you to negotiate will help you be less intimidated, more open and willing to negotiate.
- Focus on the value you provide.
As you contemplate how to get a higher salary through negotiations, focus on the value you provide, the benefits that will be gained, the outstanding results and overall impact for the company. Don’t dwell on what the employer is providing in return or you will become sympathetic to them and it will lessen your desire to make a case for yourself.
- Create stories that show the problem, action and result.
An important salary negotiation skill is sharing stories during the negotiation that illustrate the value and impact of your accomplishments. Each story takes a specific problem or situation and shows the action you took and the results that were achieved. Through stories, the person on the other side of the negotiation will understand how valuable you will be to the company.
- Realize the first figure out of the employer’s mouth is the lowest.
Companies almost always start at the bottom, expecting you to counter with something much higher. They expect to meet on a middle ground. By understanding the salary negotiation tips in the “Get Paid What You’re Worth” program, you’ll learn how to get a higher salary during a contract salary negotiation.
- Discuss salary only after your potential employer knows your value to the company.
Another salary negotiation tip is to delay the salary discussion until you feel you’ve done an effective job communicating your value to the organization. If you discuss salary before they know the value, they won’t be willing to give you as much as you deserve. The “Get Paid What You’re Worth” program will give you the necessary salary negotiation skills so that you know how to get a higher salary during contract salary negotiations.
- Do ask for 15%-20% more than you what you want.
The key to the negotiation is making sure your high number is higher than you want. This will give you room to negotiate and actually get the number you truly desire. You have nothing to lose in contact salary negotiations by starting with a high number. The worst case scenario is that you have to go back to the original amount discussed.
If you would like to gain the salary negotiation skills you need to get paid what you’re worth, sign up for Joel’s proven 10-step program today! Throughout this program, Joel will provide you with insider information on salary negotiation strategies that will help you get a higher salary!
Want a little more personalized advice? Wish you could dig a little deeper into understanding salary negotiation on your own time? As one of the country’s leading career coaches, Joel Garfinkle provides one-on-one coaching to people interested in learning how to negotiate a higher starting salary. His book, Get Paid What You’re Worth, offers additional insights into getting the money you deserve for your performance. Sign up for career coaching today to learn how you can get personalized career coaching or to order your copy of Get Paid What You’re Worth!