How To Negotiate Your Salary, The Ultimate Guide




Salary Negotiation 101:

1. Prepare: Know your numbers. Research what the salary ranges (e.g. Glassdoor.com) are at the company you’re applying for and what the salary ranges are for comparable positions. But remember, when dealing with the company, focus on the value you bring to the company, not what comparable salaries are.

 

2. The person with the greatest need always has the disadvantage when negotiating anything.

 

3. Don't stop selling yourself, even after an offer: Explain why you’re worth a certain amount, List the benefits you can bring to the employer. Remind them about what you’ve done for past employers.

 

4. Please just don't say you 'need' the money.

 

5. Leave the salary discussions as late as possible.

 

6. Seeing a job posting, applying, going through the selection process- all this puts you in a weak position when negotiating a good salary.

 

7. Personal referrals help you better at negotiating a salary.

 

8. When someone approaches you with a job- this gives you the best leverage to negotiate a better salary.

 

9. First listen to the offer and then suggest your price preference. Don't go in first.

Go in first only when you know the employer is known for giving a low offer in all negotiations, which means you must name a figure, setting up an 'anchor' number.

Even when they ask you name a number, without giving any indication, say 'NO'.

 

10. Enter “negotiable' whenever you are asked by the recruiter, or if there is an empty field on the application form.

 

11. Things to say if asked for a figure beforehand:

 

“I’d rather learn more about your company and understand more about the job I’d be doing before naming an exact number or estimate, but it sounds like you’re trying to figure out if we’re in the right range so we don’t both waste our time—is that correct?

 

“You must have a range that you’ve budgeted for this particular position, right?

 

12. If they still refuse to give a number, try giving a high number and saying it is all contingent upon the final compensation package, and you have only suggested a range.

 

13. If they ask you about your current salary: Try not to give a correct number (however, many recruiters will ask for pay slips for proof)

Work around this: Say you won't give a number in case it is higher that what they might offer but you would likle to work for them anyway, even at a lower salary, or if they have a higher number, you won't want to lose out.

 

Point is: Keep thinking of ways to avoid/delay giving a number.

 

14. Ideal counter offer when you receive an offer: Pick a higher number (in case they pull back their offer, explain that you made a mistake and after considering everything you think theirs was a fair offer.

 

15. Playing them: If you are lucky enough to get offers from several employers, tell them about the situation without coming off as arrogant. Just say you are considering before you arrive at the best decision.

 

16. To figure out if a salary offer is negotiable: Jack Chapman suggests doing the 'flinch'. When you hear the offer, repeat the number, and then stop talking. After a while, ask them things like 'Where did the number come from?', or ' What did you count as my years of experience?'. Don't say 'Is that negotiable?' directly.

 

17. Advice for the desperates: Don't make excuses to yourself, saying demeaning things like 'The economy is awful', or 'I'm lucky to have this offer'. It is okay to rejected. Don’t be afraid to walk away.

 

18. Consider the compensation package, not just the salary: Some employers have fixed-scale salaries, leaving little room for negotiation (if they want, they might want to talk inside their company, but often they don't want to deal with the bureaucracy). Sometimes, you may find that the total package of pay and benefits raises the value of the salary to an acceptable level. 

 

Thank you for reading.
This guide is from The Success Manual, which contains 200+ guides to succeeding in business, career and personal life.  Get the pdf ebook for $12 only.

 



In: Career success