How To Negotiate The Salary You Want!

Negotiate The Salary You WantDid you know it is fairly easy to negotiate the salary you want? That is once you understand your value!  When it comes to our jobs/careers we often get mad when we find out someone else who does the same work that we do, makes more. A lot of times we attribute it to racism, sexism or some other ‘ism’. While this may be true in some cases… there may be times when we simply did not ask for the money we really wanted. Here are my tips to help you negotiate the salary you want.

Ask!

Yep, you heard me. You should negotiate the salary you want firmly, confidently, and without flinching. There are many reasons why you may not want to negotiate, like:

  • You may have heard rumors about the salary range and wanted to play it safe
  • You didn’t do any research at all and just accepted what they offered ( I’ve done this once)
  • Maybe you wanted the job so bad, you were scared you wouldn’t get the job if you didn’t take their offer.

Whatever the reason, it was most likely unfounded. Recruiters expect you to negotiate, so they are surprised when you don’t.

Do Your Research

I remember my first ‘official’ job after I received my degree. I didn’t negotiate at all because the salary they offered was more than the number I had in mind, and I was so excited! Afterwards, I realized I should have asked for more – even though the initial amount exceeded what I expected.

It’s key to do your research. Check what the position you are applying for pays in your area and in other areas with similar demographics. Ask a colleague or someone you know who is at a higher level what they believe you should ask for and why. This will help your confidence when you are negotiating the salary you want.

Practice

It’s important to practice your interview, no matter how great you think you are. You want to prepare for an internal interview the same as you would if you were going to an outside company. Many make a big mistake here, because they get too casual and familiar if they know and have worked with the people interviewing them. Also, dress professionally, and make sure to send thank you’s!

When you are practicing your mock questions, also rehearse negotiating the salary you want.

It may sound something like this:
Recruiter: What salary were you expecting?
You: What is the salary range for this position?
Recruiter: Well, we really just want to know what you would like?
You: I would expect that this position would pay in the range of $x to $x for someone with my experience.

BOOM, that’s it! Don’t flinch, don’t worry about their budget, or who else they are hiring. State the salary you expect and be quiet, listen, and let them talk. Don’t be arrogant, but show your confidence.

Wrap Up Negotiations

If the company says they are not able to meet your range, that’s when the negotiation begins. You should always have a minimum amount that you want to earn to make taking the position worthwhile. Remember, when you leave one company for another you can generally increase your salary by 20%. Within a company, it would be upwards of 10% unless you are jumping a couple levels.

Always remember to consider the cost of benefits in your package, especially now that companies aren’t covering as much for healthcare as they used to.

Have you negotiated your salary or wished you did? Tell us how it went in the comments below!

Alright, now go on out there and GET THAT MONEY!
Cheers,

Dorethia

 

Dorethia Kelly, MBA is the president of Conner Financial Coaching, LLC, providing results-oriented personal finance and business coaching services. She is also the founder of the popular #MoneyChat personal finance blog, themoneychat.com and online Twitter chat hence the inspiration for… #MoneyChat THE BOOK! How to Get Out of Debt, Manage Your Money and Create Financial Security! Get your copy on Amazon today!

Tags: , , , ,

Web Statistics