5 Tips for Negotiating Your Salary
As a candidate, it’s critical you’re prepared for negotiating your salary before it comes up. It can be intimidating to discuss the specifics of what you think you’re worth. You don’t want to aim so high that you lose an opportunity, but you also don’t want to leave money on the table. To find a happy medium, here are a few things you can do to help with your discussions.
Negotiating Your Salary Tip #1: Know How Much You Want to Earn
First, evaluate how much you want to earn in your new position. This can range for everybody and comes down to numerous variables such as your experience and the location of the position. Second, research similar positions in your area to ensure that what you want aligns with what the industry pays for that position. Remember to evaluate non-monetary perks associated with the position that may be valuable to you.
Negotiating Your Salary Tip #2: Know Your Minimum
Everybody has a “walk-away” point, and you should define yours. Make sure you evaluate that number before committing to it. If a job isn’t offering your minimum salary, it’s okay to say that role simply isn’t for you. You can also bring up the reasons for your minimum salary and discuss those points thoroughly during the salary negotiation.
Negotiating Your Salary Tip #3: Know the Company
Make sure you have a clear understanding of what it’s like to work with a particular company. This could be useful information during a salary negotiation. You’ll want to know how employees are reviewed for raises, promotions, and any rewards the company may offer. It can also be helpful to read third-party review sites like Glassdoor to see what employees say about pay.
Negotiating Your Salary Tip #4: Know How You Stand Out
You should have a clear understanding of what makes you a solid candidate for a position. For example, your education and experience may put you ahead of the other candidates. Discuss your unique skills and don’t be afraid to leverage that for a starting salary.
Understanding your worth and preparing a bit beforehand can go a long way in helping you feel more comfortable with negotiations and getting the salary that you deserve.
Negotiating Your Salary Tip #5: Highlight Your Contributions to the Bottom Line
Discuss your value through contributions you’ve made in your current and past roles. Emphasize the results you’ve achieved that drove revenue, savings, efficiency, and productivity, with concrete examples and evidence.
Negotiating your salary is important, but you need to get to the interview first – and Addison Group is your partner! With more than 20 years of experience, our priority is connecting you to roles that align with your long-term career goals. Connect with us today!