Keys to Salary Negotiation

You will probably agree with me that once you find a job that you find interesting, you want to make sure the price is right.  The salary is probably in your top two decision making factors, the other being working in a career you want and know how to do.

Use the following keys to help you negotiate the salary you want.

Negotiation Key #1 – Research before hand

Find out what the high, medium, and low salaries are for your job.  Find out the salary average for your city and state.  Research your field of expertise as it relates to your experience and time you have in the field.  Look at the salaries for those at the company you are looking to work for.  Also research the benefits that will come with the job you are applying for.  Do all this and you’ll have items and knowledge to negotiate with.

Negotiation Key #2 – Wait for the offer

Do not jump the gun on talking about salary.  Wait until they make an offer.  When they make the offer they want you, not all the other candidates.  Do not make the mistake of cancelling yourself out before you are even offered the job.  Once the offer is made, give thanks and ask for time to consider it.  The first number is not the end, but the beginning, so come back, after you have prepared yourself for negotiating and offer a number to your liking.

Negotiation Key #3 – Counteroffer a little higher

Once you have an offer on the table counteroffer a salary a little higher than you want.  If you get that higher amount, great!  The purpose of this higher counteroffer is to prepare for a counteroffer from the company.  If that happens they will probably offer something close to what you want.  You make sure that once you start working you prove your worth.

Negotiation Key #4 – Specific numbers

When negotiating a salary, provide specific numbers, not whole or rounded numbers.  It is all about the appearance.  You will be seen as someone educated and has done research.  You will catch their attention and find favor in you.  Instead of $51,000 offer $51,200.  Research has found that specific numbers is more effective – round numbers add nothing.  Once you offer a specific number be ready to give your reasoning.  That is why we do research.

Negotiation Key #5 – No Fear

Do not let fear stop you from getting what you want, especially when it comes to pay.  It never hurts to ask.  It really does not.  Remember, negotiation should start after you have been offered the job.  This should give you confidence to know they want you and that they are willing to hear you.  If fear is a big problem for you, do yourself a favor and force yourself to spit it out – that is to ask for a higher pay or whatever you want.

Negotiation Key #6 – Kind threats

Research has suggested that little delicate threats could help you in negotiations.  Be poised and considerate of the favor the company has just offered you – the job.  The purpose of this key is not for you to get in an argument with the company or offer a threat that is careless and insulting.  The purpose is to emotionally connect with the company so that they offer a favorable salary in your eyes.  Do not say, “If you don’t offer me this, I’m walking.”  Say something subtle like, “That salary seems okay, but I am looking for something higher.  I may need to think about the offer a bit longer and go over my options.”  **Please note:  Do not try to get companies to outbid each other.  You will find that that is ineffective and insulting and you may find you have no job offer anymore.  

Negotiation Key #7 – Negotiation has boundaries

Do not think you are the All Power OZ and deserve a certain salary.  You do not want to be perceived as arrogant and non-compliant.  If they can’t meet your high request, they shouldn't have to say no many times.  Push for what you want, but do not upset a manager.  Understand the concept of a win/win situation – there is always a little give and not room for fixed mindsets.  Be prepared to stop negotiations if things are not going good.

Negotiation Key #8 – Silence is good

Once you have been offered a salary, sit there quietly.  Have an uneasy look on your face.  The one who offered you the salary will see that uneasiness and ask what you think about the offer.  They will probably feel an obligation to meet your requests and needs because of the uneasiness you caused with your quietness.  This is when the negotiation begins -when you pull out all of these negotiation keys to help you negotiate the salary you want.

Negotiation Key #9 – No negotiating the salary

Frequently you will not be able to negotiate the salary.  In these situations try to negotiate other areas.  There are bonuses (signing or performance), vacation and sick days, or other benefits.  There could be a list of areas that you can look into for negotiating the conditions of your job offer.  Ask about paying for gym membership.  See if they will contribute a certain percent amount to a retirement account. Ask about these other alternatives and see if they will accommodate your wishes.

Negotiation Key #10 – Good environment

 A way you will be able to negotiate is making sure there is a good environment, a good feel, a trusting relationship.  This should be on your mind when you first talk to someone at the company you wish to work for.  Keep conversations good and fun.  Avoid negative or demeaning conversations that might make someone uncomfortable.   If you build relationships of trust you will be negotiating with a “friend” who will do their best to meet your requests.