You’ve received an offer you’ll like, but the salary is lower than you expected or you deserved. As you know, it may not be easy to request a salary increase from your potential employer.
However, if you do your research and approach the negotiation process confidently, you may be able to successfully negotiate a higher salary. Below are some tips that may help you.
Table of Contents
- 1. Keep in Mind Your Value to the Company is the Most Important Thing
- 2. Help Your Potential Employer Understand Why You Deserve a Higher Salary
- 3. Be Prepared for Tough Questions
- 4. List Questions You’ll Confront
- 5. Practice The Negotiation with Your Friend First
- 6. Be Confident
- 7. Be Prepared to Walk Away
- 8. Stay Positive
- 9. Be Prepared to Compromise
- Final Thought
1. Keep in Mind Your Value to the Company is the Most Important Thing
The reason a company hires you is that the value you will create is larger than the salary they’ll give you. When you’re negotiating your salary, keep this in mind. If you’re able to show the potential employer how you will benefit their company, then you’ll be in a good position to successfully negotiate a higher salary.
Meanwhile, during the interview process, ask HR the exact position you’ll be in. Most probably you can learn if the employer really wants to recruit you by the position they offer. If they really need a person like you, you have more room to negotiate.
2. Help Your Potential Employer Understand Why You Deserve a Higher Salary
In order to successfully negotiate a higher salary, you need to be able to explain why you deserve the amount you’re requesting. This means having a solid argument (using the FAB strategy) as to why you’re worth more than what they’re offering.
Some factors that you can use to back up your argument include:
Your Skills and Experience
You need to present your skills and experience in the best possible light. And these skills and experience would be an advantage to the department you’ll involve in. Further, what value you will bring to the company based on your skills and experience.
The Current Market Value
Before approaching your potential employer about a salary increase, it’s important that you do your research and know what the average salary is for the position you’re applying for to back up your argument. If the market rate is higher than what the company is offering, this provides more ammunition for your case.
3. Be Prepared for Tough Questions
Preparation can increase your chance win the negotiation. Many job candidates fear being asked certain questions, but you should be prepared for them just in case. For example:
What are Your Current/Past Salaries?
This is a common question that potential employers may ask during the negotiation process. While it can be difficult to answer, it’s important to remain calm and honest. You can approach this question to be upfront about your current salary and explain that you’re looking for a salary that’s commensurate with the position you’re applying for.
What Are Your Salary Expectations?
When answering this question, you can give a range that’s acceptable to you. This way, you may have some wiggle room to negotiate.
4. List Questions You’ll Confront
List as many questions as possible you’ll confront when negotiating the salary, and prepare your answers carefully. That way makes you well-prepared for the negotiation. Save all the important information and use them as your reference in the future.
5. Practice The Negotiation with Your Friend First
Ask your friend to act as the interviewer and let him ask tough questions, so that you can practice how to answer them. This will help boost your confidence when you’re actually in the negotiation process.
6. Be Confident
When you’re negotiating your salary, it’s important that you come across as confident. Remember, you’re asking for a raise because you believe that you deserve it. Therefore, don’t be afraid to stand your ground and confidently state your case.
7. Be Prepared to Walk Away
If the employer isn’t willing to meet your salary demands, then be prepared to walk away from the negotiation. This doesn’t mean that you should immediately reject their offer. Instead, you can let them know that you’re not comfortable with the salary they’re offering and that you’d like to continue negotiations.
If they’re still unwilling to meet your demands, then you can walk away from the negotiation altogether.
8. Stay Positive
Even if you don’t get the result that you want, stay positive. There’s always a next time for you to try again. Most hire managers don’t like employees to negotiate salaries as they need clarity with the boss. It will take their time. But they do love the person who tries their best to get what they deserved.
9. Be Prepared to Compromise
In some cases, your potential employer may not be able to give you the exact salary increase that you want. Therefore, it’s important to be prepared to compromise if you really like the job opportunity. If you’re willing to negotiate, you may be able to come to an agreement that works for both parties.
Negotiating a higher salary can be a daunting task, but don’t be afraid to ask for what you’re deserved. If you don’t ask, then you won’t get it.
If the company you’re negotiating with is unwilling to meet your salary demands, then don’t be afraid to walk away from the deal.
Keep in mind your value to the employer is the most important factor that impacts your salary. And do let your employer know what benefits you can bring.