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13 Tips On How To Negotiate Your Salary

13 Tips On How To Negotiate Your Salary
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Negotiating your salary is something that should be happening at different stages of your career.

This could be at the start of a new job or when you are looking for promotion opportunities in your current job.

According to a survey by Sakary.com, only about 37% of workers negotiate their salaries. On the other hand, about 18% never do so.

Even more interesting in the finding that about 44% of workers say they have never discussed getting a salary increase during their performance reviews because they are afraid to bring up the topic.

This is understandable because discussing the issue of salary increase can be scary.

According to a study done by Linda Babcock, only about 7% of women try to negotiate their first salary. On the other hand, 57% of men did the same. Those who were successful got a salary raise of about 7%.

No matter your gender and no matter if this is your first or third job, it is important to know how to negotiate your salary.

According to a survey by Sakary.com, only about 37% of workers negotiate their salaries. On the other hand, about 18% never do so.

 

Here are some useful tips that will help you to prepare for this process. 

1. Know Your Value

This has to do with knowing the market rate salary for positions like yours in your specific industry as well as your geographical location.

If you go into a salary negotiation without any idea of the figures, you are left at the mercy of your employer and they control the outcome.

You can conduct a search online to find out the relevant numbers. Some useful websites are Payscale or Glassdoor. You can also speak to people in your industry to get an idea of this detail.

2. Talk To Recruiters

You can also speak with recruiters. They often deal with the issue of salary when recruiting so their knowledge in this area would be useful for you.

Even if you don’t get a specific figure, finding out an estimate puts you on the right track.

3. Organise Your Thoughts

Get all the information you have found through the research organised in one place. This will help you organise your thoughts and to have a proper negotiation. 

4. Pick The Top of the Range

When conducting your research, you might be presented with a salary range representing your market value. Though you might want to go to the middle range, it’s better to ask for a figure close to the top of the range.

This puts you in a better position especially if your employer decides to negotiate the figure down. So you need to give yourself enough room to negotiate to get a figure that you will be happy with.

5. As For A Specific Number

Use figures such as $65,859 rather than $66,000. This is because when you ask for a specific number, you are more likely to be offered something close to that figure. 

This tells the employer that you have done your homework and you have extensively researched the industry to get to that specific number.

6. Be Willing To Say No

Before attending a salary negotiation meeting, have a minimum figure in mind that you will not go below and be ready to turn down any offer below that amount. 

You might need to consider factors such as your financial obligations, the market value or it simply does not sit right with you to settle for less. 

Refusing such an offer is not an easy thing to do but understand that there is power in being able to say no. 

7. Make Sure You Are Ready

Before you ask for a salary increase, you need to be able to confirm that you qualify for it.

You should ask questions such as how long you’ve been at the job? If you have taken on additional responsibilities since you started the job? Have you gone over above by exceeding expectations not just meeting them?

You should be able to answer YES to all these questions.

“Before you ask for a salary increase, you need to be able to confirm that you qualify for it.”

8. Ask At The Right Time

  1. Timing is important, that is, asking at the right time.

  2. You might think that asking during your performance review is the best time to ask but at that point, your employer has probably already decided on your salary.

    It’s a good idea to begin raising this issue with your employer about three to four months before your performance review or around the time when they make budget decisions.

9. Schedule The Meeting For Thursday

  1. Research has shown that there is a high likelihood of getting a salary increase if you ask for it on a Thursday.

    This is because there is a tendency to become more flexible and agreeable as the work week rounds up.

    As a result, people are more open to compromise during a negotiation on Thursdays and Fridays because we want to wrap up work before the end of the week.

10. Walk In With Confidence

  1. The way to present yourself sets the tone for how the conversation will develop. Pay attention to things such as your body language and the look on your face. 

    Walking into the meeting in a slouched position or wearing a frown on your face is definitely a NO!

    Keeping your head up and having a smile on your face is a good way to starting off the meeting on a positive note.

11. Start By Asking Questions

  1. You should start the conversation by asking strategic discovery questions in order to learn more about the other parties position and expectations.

    Most negotiation meetings fail because people fail to ask these type of questions.

12. Show What You Can Do

  1. It is important to first talk about the results you have achieved and how else you can add value before you start talking about numbers.

    A good tip is to already have these written down somewhere and go over it during the meeting. You could even have one printed out for the other party to look at during the meeting. 

    It is a good idea to lay emphasis on those instances where you have exceeded expectations in your role. This will lay a foundation for why you deserve a salary increase.

    Then you can talk about what you are excited to do in the future for the benefit of the business. 

13. Stay Positive, Not Forceful

  1. The process of negotiation could be a scary one but it is important to maintain a positive note during the conversation.

    Start the conversation by talking about things such as why you love working in the company. You could say something like:

    “I really enjoy working here and find my projects very challenging. In the last year, I’ve been feeling that the scope of my work has expanded quite a bit. I believe my roles and responsibilities, and my contributions have risen. I’d like to discuss with you the possibilities of reviewing my compensation.”

The process of negotiation could be a scary one but it is important to maintain a positive note during the conversation.

YouEnrol provides a full-service student concierge and consultancy experience we are also able to help and advise you further on steps you can take to achieve your study and career goals as an international student in Australia.

Do not hesitate to book an appointment with us for a free no obligation discussion where we help you to get started on your journey to studying in Australia the right way.

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