To at least some extent. we all work for money. Even if you’re incredibly enthusiastic about your job, you still have bills to pay and a financial future to secure. Yet when it comes time to negotiate a salary, many of us go quiet.
Negotiating a Better Salary can make it or break it. Applying for a new job or during your annual review, it is essential to walk happily out of a conversation and make sure you get paid for the value you bring into your job.
Special now after the COVID-19 pandemic has flattened and many companies are rehiring again it is important to play a wise game.
Just 39 percent of workers negotiated a salary increase during their last job offer. But 85 percent of those who did negotiate their salaries ended up with better offers.
5 Tips on how to increase your salary
To increase the chances that your salary negotiations will lead to more desirable outcomes, keep these five tips in mind before you sit down at the table.
#1 Establish Value Before Putting a Price Tag on Yourself
FACT : Every candidate that applies to a position will have unique skills and personality traits.
You need the person across the table to feel like you’ll bring more value to the organization than the folks you’re competing against. You can get the other side to share the reasons why you are a valuable asset and worth paying by using a combination of a quick accusation audit and a why proof-of-life question like:
“I’d imagine it took a lot of careful consideration to get to this point. Why me?”
As always, with any proof-of-life question, your tone of voice will be critical.
#2 Talk About the Future of the Company and Your Place in It
The average U.S. worker holds 12jobs over the course of their career. The average U.S. worker also stays in one place for Less than five years.
A new hire costs about $4,000 in recruiting costs for a mid-range position. No company wants to hire someone only to have to find their replacement in the near future. Ditch the self-centered approach and opt for an “us-centered” approach instead:
How can I be guaranteed the opportunity to be involved in projects that are critical to the company’s future?
The hiring manager will know that you’re in it for the long haul, which may make it easier for them to make a bigger financial commitment.
#3 Go Fishing for as Many ‘That’s Rights’ as You Can Get
There are two keywords that every negotiator should aim to get the other side to say every time they step to the table: ‘That’s right‘.
When you hear a ‘that’s right‘ it’s a sign that a mutual understanding has been reached and both parties can move forward. At that point. you can increase your salary ask and have a higher likelihood of getting what you want. In fact, one of our clients used this tactic and got a 41 percent higher salary offer!
#4 Be Delightfully Persistent on Non-Salary Terms
“In any deal, price is only one term, and a good price doesn’t always make a good deal.” – The Black Swan Group
Remember that you don’t necessarily have to focus on money alone. For example: Securing an additional week of vacation may be what you really want.
#5 Don’t be a Jerk
People are six times more likely to give you what you want if they like you. If they don’t like you. do you really think they’re going to agree to pay you more-or even extend you an offer in the first place? The bottom line: Be pleasant and friendly throughout the entire process.
In the below infographic “5 Tips Negotiating a Better Salary” from Black Swan Group, you can also find an offer to a live event that can help you to improve your skills when it comes to negotiating a better salary.