Game-Changing Salary Negotiation Tips
Negotiating pay is sometimes intimidating, but you can optimize your success if you pre-plan and implement a strategic approach.
Whether you are an industry pioneer, or a newcomer to the workforce, before you kick-start salary negotiations with a potential employer, consider these tips.
Know Your value
The very first item on your to-do list is to find the “blue book value” of the position.
Knowing the salary and going rate for your industry in a specific geographic area is crucial. To find salary information, you can check online earnings calculators, check out industry wage guides, or talk to recruiters to glean the facts you need.
Consider these Variables
- Never base your worth on experience in the field alone. Think out of the box. Research the company you are interviewing with and brainstorm to find examples of how you can help with their various pain points. Have a clear understanding of your value in direct correlation to their needs.
- Demographics is a variable to consider. For example, a position in New York City will garner a higher salary than the same job down south, or in the Midwest.
- Consider the type of company. Corporate settings typically have more salary wiggle room than a nonprofit.
Now that you’ve done your homework, it’s time to prepare a game-changing plan.
Prepare Your Script
Devise a script, or cheat sheet using your research materials, the job requirements, company information, and your skills and strengths.
Pick a Number, not Just any Number
A study in The Journal of Experimental Social Psychology suggests when you give a salary number, use a precise number, in lieu of a round number. According to their report, “Precise numerical expressions imply a greater level of knowledge than round numbers and, therefore, are assumed by recipients to be more informative of the true value of the goods being negotiated.”
Determine your minimum acceptable salary (within the salary range for the position you found) and then begin your negotiation above it. Be confident and specific – don’t give a range.
Know When to Walk
Sometimes you need to turn down the offer, particularly if your skills demand more or the offer isn’t consistent with the market.
Alternatively, you can ask for other benefits such as flex time, when the employer will not budge on salary.
Consciously release fear or anxiety before your meeting. Take a brief walk, drink a glass of cold water, take a few deep breaths, and think positive affirmations. This will help you to walk into your negotiation with an air of confidence.
Fun Fact: Timing really might be everything – According to Psychology Today, planning your meeting on a Thursday or Friday will increase your chances of getting the salary you want; most companies want to wrap up the week by Thursday or Friday
Keep in mind this is just a small selection of general tips that can help you negotiate a fair pay with a new employer, and you will find exceptions depending on the type of work, your level of expertise, education, and other factors.
Variables such as company type, its culture, the position you seek, and more can alter your approach. Customize these tips to fit more closely with your circumstances.
Be proactive and devise a plan ahead, and you will increase your chances of getting the job you want and the money you deserve.
Connecting with Springborn Staffing will give you a distinct advantage. We know Maine employers – really well – what kind of people they hire, what it’s like to work there. Often we know about jobs before they are even posted. We’ve been helping people like you build a pathway to success for more than 30 years. Contact us today.