How To Negotiate Salary?
How To Negotiate Salary: Best Tips
You miss one hundred percent of the shots you don’t take, and much like hockey, negotiating for a better salary requires the same mindset. The career landscape for millions has changed inside one hectic, pandemic-ridden year.
Many have had to pivot or completely change their career path due to massive layoffs and constantly extending furloughs. If you are among this number, you may find yourself in that all-to-familiar scenario yet again.
It can be quite difficult for people to put what they think into words, let alone quantify it. But if you want to come out ahead in this year of drastic change, you have to be frank with potential employers; frank and creative. In this article, I am going to go through some steps on how to negotiate salary, so you can increase your yearly salary significantly during negotiations.
1. Make Game Plan
The first step on how to negotiate salary is to make a game plan. Improvisation only belongs in sketch comedy and jazz. IT HAS NO PLACE IN NEGOTIATIONS! Do your research. Find out the median salary for your position (within your geographic region). Look up the most sought after degrees or certifications within your field. You must be prepared to rebut any language hiring managers may use to hint at lower pay.
2. Do Some Research On The Company
The second step on how to negotiate salary is to look into the company itself. Glassdoor and LinkedIn will be invaluable during this process, as there you can find reviews from current and former employees. What gripes did they have? What perks did they enjoy? What are the hours like? What is the median salary for a part-time worker versus a full-time worker?
Once you have an idea of what you would be walking into, you will have a better idea of what the ceiling and floor of your negotiations may be.
3. Consider The Time
Next, consider the time we are in. COVID-19 has changed the way millions of people are completing their work. Remote, remote/on-site hybrid, daily Zoom meetings, weekly Slack correspondence; different companies are adapting in different ways to ever-changing social distancing rules and sanitation guidelines.
Can your tasks be completed from home? How much independence can you expect if you would be working remotely? Are these logistical changes permanent?
4. Put It All Together
And, the final step on how to negotiate salary is that you put it all together. I mentioned earlier that negotiation is no place to improvise. However, carefully planned creative contingencies may be the difference between retiring at 55 or working until you croak.
First, you want to lay out all the degrees or certifications you will bring to the position (the ones you painstakingly researched ahead of time). And make clear all the qualities you bring to the table that your resume did not (or could not) cover.
All the side tasks and seminars you sat through at your last job prove you are a utility player. And those employee reviews you read about online? Address them indirectly. “I don’t mind long hours…” or “My last position had a lot of turnovers, but I always make my value clear to my bosses…” or “I’m used to adapting to different roles…”.
Perspective is also crucial to successful negotiations. Potential employers may have a number in their head pertaining to how much they are willing to pay you, but lines begin to blur when you consider things like health insurance, a company car, or paid time off.
If you’re having trouble picturing what these perks add up to annually, there are calculators available online that can break it down for you. Once you’ve pushed for every dollar they are willing to part with, consider how much of your own time you have left. If you can work from home, consider that a rebate on time you would have otherwise
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