For most people, discussing salary is difficult. For others, it comes very naturally; sometimes, there's, even, a cockiness displayed when explaining why they deserve the compensation requested. Regardless of which group you fall into, there are certain aspects of the process to be aware of as well as how much leeway your current or potential employer will have when it comes to the negotiating process…
First of all, the leeway for salary negotiation, for a given employer, usually depends on one or more of the following employment issues:
- company-specific factors that may affect salary such as comparable employment, your desired work culture, your pay philosophy, and your promotion expectations
- existing economic conditions
- your experience and career progress
- fair market value of the job the career level of the job relative to your organization
- the salary range for the job relative to your current organization
- the salary report data relative to your location and industry
- the scarcity of experience and skills required for the job
Following are six powerful salary negotiation tips:
1. Research the overall picture
Contacting a professional organization for this or doing some due diligence online is usually recommended in order to find out what the national average salary range is for the particular position.
2. Determine your skill level
Available job market skill levels will vary based on the current economic conditions and specific industry conditions. Once you determine your skill level, you'll have a pretty good idea of how your company values your position.
3. Weigh the overall compensation package
Take into consideration elements i.e. the economic, geographic, and industry factors of the offer. In order to ensure that you get the best salary offer possible, weigh the company benefits package (allowed time off; compensation and promotion possibilities; company health and medical insurance; and retirement compensation and benefits.
4. Go in with a positive attitude
Negotiating is not a competition. However, it does need to finish as a win-win situation for both you and the company.
5. Let the employer know why you're worth every penny
No sales job you have ever had will equal how well you need to close this deal. Never tell the employer (directly) that what you're worth is more than what they are offering. A good HR person will know whether or not you deserve more than they are putting on the table and will make adjustments to the offer if they have the leverage to do so.
6. Know when to shut up
Once the offer is sealed, pushing any further will only result in your employer questioning if they made the right decision.
by Aaron Thomas